糖心vlog传媒

Europe Biofertilizers Market Analysis

The Europe Biofertilizers Market size is estimated at USD 1.04 billion in 2024, and is expected to reach USD 1.63 billion by 2029, growing at a CAGR of 9.30% during the forecast period (2024-2029).

• The European Union is continuously encouraging biofertilizers since they are cost-effective, advising the farmers to optimize the application of chemical fertilizers or replace them wholly or partly with eco-friendly ones to result in better economic returns. The EU Common Agricultural Policy promotes adopting and using bio-based products and organic farming. It provides up to 30% of the budget as direct green payments to farmers to maintain sustainable agricultural practices. Existing challenges, such as low nutrient and moisture presence in the soils and growing environmental concerns, are paving the way for biofertilizers in the region. They are emerging as a potential solution to synchronize nutrient release as per the requirement of plants.
• The European Commission unveiled the European Green Deal, a roadmap for Europe to become a climate-neutral continent by 2050. These plans lead to sustainable practices, such as precision agriculture, organic farming, agroecology, agroforestry, and stricter animal welfare standards, which are expected to influence the market positively. The accomplishment of the objectives of rural development, which contribute to Europe's 2020 strategy for smart, sustainable, and inclusive growth by improving soil management, preserving biodiversity, fostering knowledge transfer and innovation, and promoting resource efficiency, is also contributing to developing a favorable environment for biofertilizers.
• Furthermore, several players in the market are launching new products that are further fueling the growth of biofertilizers in the region. For instance, Symborg launched a new biofertilizer product called Qlimax, an innovative soil energizer that performs as a prebiotic. Therefore, with the increasing adoption of modern agricultural techniques and the increase in government and company initiatives in the region toward the adoption of sustainable agricultural practices, and considering the aforementioned factors, the European biofertilizers market is expected to grow during the forecast period.

Europe Biofertilizers Industry Overview

Biofertilizers are substances comprising living microbes, which, when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients.

The European biofertilizers market is segmented by microorganism (rhizobium, azospirillum, azotobacter, phosphate solubilizing bacteria, mycorrhiza, and other biofertilizers), crop type (cash crops, horticultural crops, and row crops), and geography (Germany, United Kingdom, France, Spain, Italy, Russia, and Rest of Europe). The report offers market size and forecasts in terms of value in USD million for the above-mentioned segments.