Microalgae Fertilizers Market Size, Share, and Trends 2024 to 2033

Microalgae Fertilizers Market Size and Growth 2024 to 2033

The global microalgae fertilizers market size was valued at USD 12.40 billion in 2023 and is anticipated to reach around USD 32.25 billion by 2033, expanding at a CAGR of 10.30% from 2024 to 2033. The microalgae fertilizers market is driven by the expanding knowledge of how conventional chemical fertilizers affect the environment.

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Microalgae Fertilizers Market Key Takeaways

• Asia Pacific dominated the microalgae fertilizers market in 2023.
• Europe is another significantly growing region in the market during the forecast period.
• By species, the spirulina segment has held the largest market share of 31% in 2023.
• By application, the biofertilizers segment has contributed more than 36% of the market share in 2023.

Microalgae Fertilizers Market Overview

Organic fertilizers made from different kinds of microalgae are known as microalgae fertilizers. The microalgae fertilizers market offers solutions in the form of products that are abundant in micronutrients like iron, zinc, and manganese, as well as essential nutrients like potassium, phosphorus, and nitrogen. They are made by growing and processing biomass from microalgae, which is subsequently combined to create liquid or solid fertilizer solutions.

Microalgae abundantly contain micronutrients critical for plant growth and development, as well as important macronutrients. These fertilizers give plants a natural, balanced supply of nutrients, fostering strong development and increasing production. They also help improve the fertility and structure of the soil. Over time, they improve soil health and productivity by increasing the amount of organic matter in the soil, encouraging beneficial microbial activity, and aiding in moisture retention.

Microalgae Fertilizers Market Growth Factors

• Growing demand for organic alternatives, such as microalgae fertilizers, is being driven by growing awareness of the detrimental consequences that synthetic fertilizers have on the environment and human health.
• There is growing pressure to increase agricultural output due to the growing global population. Because microalgae fertilizers include vital nutrients that increase agricultural output and soil fertility, they provide a sustainable alternative.
• The microalgae fertilizers industry is seeing innovation because of increased investments in research and development. This is resulting in the creation of novel formulations with improved nutritional content and efficacy, which is propelling market expansion.
• In addition to being advantageous for conventional agriculture, microalgae fertilizers are also used in horticulture, aquaculture, and turf maintenance. The demand for goods based on microalgae is increasing due to their adaptability.
• The availability and affordability of microalgae-based fertilizers have increased due to the development of effective methods for microalgae production and the extraction of vital nutrients made possible by ongoing biotechnology breakthroughs.

Microalgae Fertilizers Market Scope

Microalgae Fertilizers Market Dynamics

Drivers

Increasing awareness about environmental degradation

The need to use sustainable agriculture techniques is becoming more pressing as people become more aware of how climate change affects the world's food security. Farmers face growing pressure to improve agricultural resilience and adaptability to changing environmental conditions as irregular weather patterns, soil degradation, and water constraint become more common. In addition to giving plants the nutrients they need, microalgae fertilizers increase the plants' ability to withstand stress, stabilize yields, and lessen the negative effects of environmental stressors. This makes them a versatile option.

Food security concerns

Micronutrients, phosphorus, potassium, and nitrogen are among the many important elements found in abundance in microalgae. These nutrients are essential to the development and growth of plants. Microalgae fertilizers provide a sustainable substitute for traditional fertilizers, which gradually erode soil quality by replacing vital nutrients and increasing soil fertility. Droughts brought on by climate change and salinity of the soil are major obstacles to agricultural productivity. Certain species of microalgae have demonstrated resistance to salinity and drought, demonstrating their resilience to these stresses.

Restraint

Limited awareness and understanding of microalgae-based fertilizers

Although there is a lot of research being done on microalgae-based fertilizers, it could be difficult to find thorough papers and materials that describe the benefits, application techniques, and effectiveness of these fertilizers. In the absence of easily accessible information, prospective consumers could be reluctant to embrace novel products or technologies. Because microalgae-based fertilizers are new and there may not be enough proof to support their claims, some people may be skeptical or have doubts about their efficacy. This mistrust might impede knowledge and comprehension even further, as prospective consumers could be hesitant to investigate or finance novel agricultural methods.

Opportunity

Potential for value-added product

It is possible to create value-added microalgae fertilizers to address some agricultural issues, such as environmental stresses, soil degradation, and nutrient deficits. For instance, some microalgae species have a high concentration of nitrogen-fixing enzymes, which can improve soil fertility and lessen the demand for synthetic nitrogen fertilizers, reducing environmental pollution and enhancing sustainability.

Value-added microalgae fertilizers have ecological benefits in addition to agronomic ones. Wastewater and non-arable soil can be used for microalgae farming, which lessens competition with food crops and uses less freshwater. Additionally, during photosynthesis, microalgae can sequester carbon dioxide, aiding in moderating greenhouse gas emissions and adapting to climate change.

Species Insights

The spirulina segment dominated the market in 2023 and is expected to grow at a notable rate in the microalgae fertilizers market during the forecast period. Acclaimed for its remarkable nutritional composition, spirulina boasts elevated concentrations of protein, vitamins, minerals, and vital fatty acids. Spirulina is a powerful fertilizer that provides a balanced mix of minerals to support healthy plant growth and development. Because of its nutrient-rich makeup, it is very sought-after for use in agricultural applications, drawing in conventional and organic farmers looking for efficient and sustainable fertilization methods.

Beyond conventional farming methods, horticulture, aquaculture, and turf management are just a few industries that use spirulina-based fertilizers. Because of its adaptability, spirulina can provide a wide range of nutrient needs in a variety of crops and farming practices, which increases its market share and growth potential.

The chlorella segment is observed to be the fastest growing in the microalgae fertilizers market during the forecast period. Fertilizers based on chlorella have been shown to increase crop output and quality dramatically. Chlorella's unique combination of nutrients encourages strong plant development, boosts disease and insect resistance, and improves the nutritional value of harvested crops. These fertilizers are popular among farmers because they can produce healthier, more plentiful crops without heavily depending on artificial chemicals. Indirectly, the increased demand for fertilizers containing chlorella is driven by the growing knowledge of the health benefits of chlorella ingestion. Consumers are increasingly gravitating toward foods produced using organic, nutrient-rich natural fertilizers, which aligns with their tastes for clean, organic goods.

Application Insights

The biofertilizers segment dominated the microalgae fertilizers market in 2023. Nitrogen, phosphorous, potassium, and micronutrients are abundant nutrients in biofertilizers made from microalgae. Plant development and growth depend on these nutrients. Furthermore, growth-promoting chemicals like auxins, cytokinins, and gibberellins are frequently included in microalgae biofertilizers, which promote plant yield and development even more.

Biofertilizers based on microalgae are adaptable and work well with various crops and cropping configurations. They can be applied using techniques such as fertigation, foliar spraying, soil application, and seed treatment. Because of this adaptability, farmers can include biofertilizers in their current farming methods without significant changes.

The soil microalgae segment is the fastest growing in the microalgae fertilizers market during the forecast period.

Fertilizers based on microalgae have been demonstrated to dramatically increase soil fertility. They improve the soil's structure, ability to hold onto moisture, and ability to hold nutrients by adding organic matter. Furthermore, the release of chemicals by microalgae stimulates microbial activity in the soil, producing a more dynamic and fruitful environment that is favorable for plant growth. The growth-promoting and bioactive chemicals found in microalgae serve as organic plant biostimulants. These substances support overall plant vigor and resistance against environmental stresses like drought, pests, and diseases.

They also encourage root formation and improve the efficiency of nutrient uptake. The bio-stimulant characteristics of microalgae fertilizers are becoming more attractive to farmers looking for alternatives to chemical-based growth enhancers.

The soil conditioner segment shows a notable growth in the microalgae fertilizers market during the forecast period. Soil conditioners derived from microalgae facilitate the proliferation and motility of advantageous soil microbes, including bacteria, fungus, and protozoa. These microbes are essential for the cycling of nutrients, the decomposition of organic matter, and the prevention of disease. Microalgae fertilizers support the growth of a robust soil ecosystem, which is essential for sustainable agriculture, by increasing microbial variety and activity. The long-term advantages of integrating soil conditioners including microalgae extracts into farming techniques are becoming more and more apparent to farmers.

Regional Insights

Asia Pacific held a significant share in 2023 in the microalgae fertilizers market throughout the predicted timeframe. The region's need for food is rising due to rapid population growth and increased urbanization. Farmers are looking for strategies to increase agricultural output while reducing environmental degradation to meet this demand in a sustainable manner. By strengthening plant nutrient uptake, boosting soil health, and raising agricultural yields, microalgae fertilizers provide an answer. Because of this, farmers in the area are using fertilizers based on microalgae more and more to increase the productivity and sustainability of their farming methods.

Europe is significantly growing in the microalgae fertilizers market during the forecast period. Increased awareness among European farmers and consumers about the detrimental effects of synthetic chemicals on soil health, biodiversity, and human health has led to a greater acceptance of organic fertilizers. Rich in vital nutrients and advantageous microbes, microalgae fertilizers provide a green way to increase agricultural productivity and soil fertility without endangering the environment. The effectiveness and performance of microalgae fertilizers in boosting agricultural output, lowering environmental impact, and improving soil health have been shown in field tests and studies carried out throughout Europe. Early adopters' encouraging comments and endorsements have fueled the products' acceptance in the market by helping farmers, agronomists, and other agricultural stakeholders develop a sense of trust and confidence in them.

North America shows a notable growth rate in the microalgae fertilizers market during the forecast period. The promotion of bio-based goods and government backing for sustainable farming methods are other factors propelling the North American market for microalgae fertilizers. Policies promoting ecologically friendly and organic fertilizers encourage farmers to use microalgae-based solutions, which accelerates market growth. Farmers now have more access to microalgae fertilizers thanks to the region's growing distribution networks. To access a larger consumer base and support market expansion, businesses are investing in marketing plans and joint ventures with retailers, internet platforms, and agricultural cooperatives.

Microalgae Fertilizers Market Recent Developments

• In July 2023, with an annual revenue of over $100 billion, NTT Corporation, a global technology corporation, has partnered with the Regional Fish Institute to develop a three-step plan for producing fish and shellfish in RAS facilities that have been fed on algae cultivated in-house.
• In July 2022, the creator of the "world's first" Kelp Burger, AKUA, introduced Krab Cakes, their newest new product. One of the most nutrient-dense and sustainable food sources on the earth, kelp is harvested locally and farmed in the ocean by AKUA, which started off in 2019 with the creation of plant-based cuisine based on kelp jerky.
• In June 2022, Three US restaurants announced to carry Umaro Foods' seaweed-based bacon, giving customers the opportunity to sample the brand's novel protein for the first time.

Microalgae Fertilizers Market Companies

• Algaenergy
• Algatec
• Algtechnologies Ltd
• Allmicroalgae
• Cellana LLC
• Cyanotech Corporation
• Heliae Development, LLC
• Viggi Agro Products
• AlgEternal Technologies, LLC
• Tianjin Norland Biotech Co., Ltd

Segments Covered in the Report

By Species

• Spirulina
• Chlorella
• Euglena & Nanochloropsis
• Nostoc
• Special Type

By Application

• Biofertilizers
• Biocontrole
• Soil Microalgae
• Biostimulants
• Soil Conditioner

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa