Microalgae Fertilizers Market Size

Microalgae Fertilizers Market size was over USD 12.2 Billion in 2023 and is likely to cross USD 43.5 Billion by the end of 2036, growing at more than 10.23% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of microalgae fertilizers is estimated at USD 13.4 Billion.

The microalgae fertilizers market is growing due to the shift from traditional farming to sustainable farming methods. According to the World Bank, by encouraging the greening of agricultural and rural development in the central Chinese provinces of Hubei and Hunan, a new USD 345 million loan for the China Green Agricultural and Rural Revitalization Program for Results would assist China's global public goods program. Additionally, the expanding human population and anthropological activities have made it imperative to employ cost-effective and sustainable technology to meet the demand for agricultural goods now and in the future.