China Biofertilizers Market Outlook

china’s growing population, coupled with their rising incomes, is creating an ever increasing demand for agricultural products. to meet this demand, chinese farmers are turning to biofertilizers as a way of supplementing their traditional farming practices. biofertilizers are organic matter that have been produced via fermentation or composting, and which are applied to soil to improve fertility. one of the driving forces behind the growth of biofertilizer use in china is the chinese government’s commitment to growing more sustainable agriculture and food production systems. in 2016 the government launched a 15-year plan on developing ecologically sustainable agriculture that included a focus on biofertilizers and the development of an environment friendly and efficient fertilizer industry. the government has also supported the growing biofertilizers market by providing funding for research and development of biofertilizer production. since 2017, the ministry of agriculture has provided over 1 billion cny (150 million usd) in research funding for projects related to the development and promotion of biofertilizer utilization. this research funding has encouraged chinese biofertilizer producers to innovate and develop new production technologies. the increased availability of biofertilizer products has in turn led to the growth of the chinese biofertilizers market. it is estimated that the market size of biofertilizers in china is about 10 billion cny in 2020 (1.5 billion usd). it is expected to continue to grow at a cagr of 15-20% over the next 10 years, reaching 30 billion cny (4.5 billion usd) by 2032. the growth of the chinese biofertilizers market is driven by the increasing demand for more sustainable agricultural inputs, the government’s efforts to support the sector, and the development of new production technologies. this is likely to be sustained over the coming years, as the country’s population and demand for agricultural products continues to grow.