According to the latest report by IMARC Group, titled, “Europe Biofertilizer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The Europe biofertilizer market is expected to exhibit a CAGR of 13.69% during 2022-2027.
Biofertilizer, also known as a microbial inoculant, is a substance comprising living microbes like bacteria, fungi, and cyanobacteria that aid in decomposing organic matter and breaking down complex minerals. It is made using biological wastes for improving the overall soil fertility and providing nutrients to the soil by converting ambient nitrogen fixes and phosphorus soluble. It is applied to seeds, plant surfaces, soil, and the interior of different plants. It is utilized in organic and conventional crop production systems for growing fruits, vegetables, tree nuts, and field crops. As it is cost-effective and eco-friendly and reduces the risk of soil and water contamination, biofertilizer is widely utilized in the agriculture industry to promote plant growth across Europe. At present, several organizations and institutions in the region are offering various webinars, training programs, academic courses, and educational programs, raising interest and encouraging farmers and other enthusiasts to adopt biofertilizers.
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Europe Biofertilizer Market Trends and Drivers:
Biofertilizer is utilized in commercial farming to increase the levels of phosphorous, nitrogen, and other nutrients in plants and restoring the normal fertility of the soil. This, in confluence with the increasing adoption of organic farming that involve the chemical-free production of crops and seeds, represents one of the major factors positively influencing the demand for biofertilizers in Europe. It can also be attributed to the growing awareness about the benefits of using biofertilizers as compared to their synthetic counterparts. Moreover, declining arable land, rising food security concerns, and the growing awareness about the harmful effects of chemical-based fertilizers are increasing the need for eco-friendly solutions to improve crop yield. This, in confluence with the shifting consumer preferences for organic food products, is bolstering the market growth. In addition, due to increasing environmental concerns, several initiatives are being undertaken by the European Union (EU) to promote sustainable agriculture practices, which is contributing to the market growth. Furthermore, the rising need for self-gardening on account of improving lifestyles and the driving need for maintaining the aesthetics of outdoor spaces is propelling the market growth. Apart from this, the launch of advanced technologies, such as bacterial biofilm carriers, nanotechnology-based microbial inoculants, and artificial selection of plant growth-promoting rhizobacteria (PGPR), is providing a thrust to the market growth. Besides this, extensive investment in research and development (R&D) activities to study the microbial persistence of biofertilizers in soil under different conditions is projected to create a positive outlook for the market in the coming years across the region.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Europe Biofertilizer Market 2022-2027 Competitive Analysis and Segmentation:
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on type, crop, microorganism and mode of application.
Breakup by Type:
- Nitrogen-Fixing Biofertilizers
- Phosphate-Fixing Biofertilizers
Breakup by Crop:
- Cereals and Grains
- Pulses and Oilseeds
- Fruits and Vegetables
Breakup by Microorganism:
- Phosphate Solubilizing Bacteria
Breakup by Mode of Application:
- Seed Treatment
- Soil Treatment
Breakup by Country:
- United Kingdom
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