IMARC Group, a leading market research company, has recently releases report titled “Europe Biofertilizer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the Europe biofertilizer market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the Europe biofertilizer market?
The Europe biofertilizer market size reached US$ 521.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,158.9 Million by 2028, exhibiting a growth rate (CAGR) of 14.81% during 2023-2028.
What is a biofertilizer?
Biofertilizers are natural or organic substances that contain living microorganisms, primarily bacteria, fungi, or algae, which enhance soil fertility and promote plant growth. These microorganisms form symbiotic relationships with plants, helping them absorb essential nutrients from the soil. It is an environmentally friendly option to chemical fertilizers, reduces the need for synthetic nutrients, and minimizes soil and water pollution. For instance, nitrogen-fixing bacteria, such as Rhizobium and Azotobacter, convert atmospheric nitrogen into a form that plants can readily use, promote healthy growth, and increase crop yields. Additionally, phosphate-solubilizing bacteria, including Bacillus and Pseudomonas, help plants access phosphorus in the soil, essential for root development and plant health. Additionally, biofertilizers offer several advantages and improve soil structure, increase nutrient availability, and enhance soil's water-holding capacity. It also helps decrease the environmental impact of agriculture by decreasing the reliance on chemical fertilizers that can lead to soil degradation and water contamination.
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What are the growth prospects and trends in the Europe biofertilizer industry?
The biofertilizer market is primarily driven by continuous research and development (R&D) efforts that created more effective and specialized biofertilizer products. These innovations expand the range of crops that can benefit from biofertilization, further influencing market growth. Moreover, the growing awareness among farmers about the benefits of biofertilizers is due to educational programs and initiatives by agricultural institutions and organizations, representing another major growth-inducing factor. Besides this, the governments are actively promoting sustainable agriculture practices with various policies and regulations encouraging biofertilizers, offering subsidies and incentives to farmers who adopt these eco-friendly solutions, accelerating the product adoption rate. Along with this, the rising environmental consciousness about the adverse effects of chemical fertilizers on soil health and water quality is propelling the market growth. Also, biofertilizers offer a sustainable and eco-friendly alternative, as they are derived from natural sources and promote soil fertility without causing harm to the environment. Furthermore, the popularity of the organic farming sector and the rising consumer demand for healthier and more sustainably produced food with organic farming practices, as they are natural and do not contain synthetic chemicals, create a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Nitrogen-Fixing Biofertilizers
Phosphate-Fixing Biofertilizers
Others
Breakup by Crop:
Cereals and Grains
Pulses and Oilseeds
Fruits and Vegetables
Others
Breakup by Microorganism:
Cyanobacter
Rhizobium
Phosphate Solubilizing Bacteria
Azotobacter
Others
Breakup by Mode of Application:
Seed Treatment
Soil Treatment
Others
Breakup by Country:
Germany
France
United Kingdom
Italy
Spain
Others
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