The global biofertilizers market size valued USD 1416.68 million in 2020 and expected to reach USD 3624.32 million by 2027, growing at a CAGR of 14.08% during the forecast period 2021-2027. Biofertilizers are the substances with microorganisms when applied to the plant surfaces, soil or to the seed will colonize the rhizosphere or interior parts of a plant and promotes growth. Biofertilizers able to add nutrients through the natural process of solubilizing phosphorous, fixing atmosphere nitrogen and stimulate plant growth by synthesizing the substances. Biofertilizers are the class of agrochemicals which are made of organic materials in major quantities. Nowadays farmers are avoiding chemical fertilizers in order to minimize the harmful effects on biodiversity and environment. But synthetic products are still used widely because of the long life and effectiveness of the products. These biofertilizers are potentially used in soil treatment, root dripping and seed treatment. Awareness about the environment and growing demand for fertile soil and organic foods are propelling market revenue. Government initiatives such as European Union’s Common Agricultural Policy is promoting a biobased product and offering approximately 30 % of total budget as direct green payment for the farmers who are adhering to sustainable agricultural practices. Governments of India and China also undertaken many initiatives in order to educate the farmers regarding usage of biofertilizers to enhance the protection of the crop.