Malaysia Biofertilizers Market Outlook

malaysia is one of the leading producers of biofertilizers in asia. according to orbital insights, the malaysia biofertilizers market size has grown exponentially over the past four years reaching a market worth of usd 42.36 million in 2018. biofertilizers are defined as sustainable agricultural inputs that are used to enhance soil fertility, productivity, and environmental quality. when applied to land, these inputs decompose organic matter and release essential nutrients which are necessary for nutritious soil and healthy crop growth. these fertilizers tend to require lower capital and operational costs compared to conventional fertilizers and have a much lower risk of environmental pollution. currently, the market for biofertilizers in malaysia is primarily driven by mandates from the malaysian government requiring farmers to embrace green practices in the production of all agricultural goods. policies like this are seen to provide a positive outlook on the market for biofertilizers in the coming years. furthermore, exponential population growth, combined with dwindling amounts of land suitable for traditional farming operations, is also expected to act as a significant growth driver for biofertilizers in the country. innovations in the fertilizer market have sparked new demands for customized and efficient delivery systems. this rise in demand has driven the entrance of gateway companies into the market, buoyed by advances in online platforms and mobile applications. these companies provide digital marketplaces, enabling buyers to purchase resources and communicate in real-time with suppliers. this provides an efficient and cost effective way to purchase and distribute fertilizers and is one of the key growth drivers in the market. in terms of what the future holds for the malaysia biofertilizers market, it is expected to grow at a cagr of 10.9% over the forecast period from 2019 to 2032. this is mainly due to the promising potential of the market alongside the positive governmental policies in the country. furthermore, many investors have recognized the importance and potential of biofertilizers and have started investing heavily in new technologies. as a result, it is expected that in the coming years, this technology will become even more efficient and even more affordable.