Rhizobium segment to dominate the Europe Biofertilizers Market during 2020–2028

According to a new market research study on “Europe Biofertilizers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product type, Microorganism, Crop type, and Application” is expected to reach US$ 1,153.11 million by 2028 from US$ 469.34 million in 2021. The market is estimated to grow at a CAGR of 12.1% from 2021 to 2028. The report provides trends prevailing in the Europe biofertilizers market along with the drivers and restraints pertaining to the market growth. Raising Growth of Organic Farming, Boosting Innovations related to biofertilizers, and Fostering Initiatives by government agencies and increase in awareness pertaining to the need for sustainability in modern agriculture are the major factor driving the growth of the Europe biofertilizers market. However, smaller shelf life of biofertilizer hinders the growth of Europe biofertilizers market.

In Europe, currently, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. Initially, other member states had implemented drastic measures and travel restrictions, including partially closing their borders that impacted the trade industry in the region. The shutdown of manufacturing units, difficulty in the procurement of raw materials has had a negative impact on the biofertilizer market. According to a survey conducted by The Syngenta Group, 46 percent of large European Union (EU) farmers stated that their farming businesses have been impacted by the COVID-19 pandemic. During the pandemic, the European consumers consumed more organic products which is increasing the adoption of organic farming practices. In Germany, the consumers consumed 22% more organic products in 2020. As the sales of organic farming is increasing in Germany, more and more farms are seizing the opportunity to go organic. According to US Department of Agriculture, one of eight farmers in Germany is becoming organic and the numbers are only increasing. Thus, an increase in organic farming during the pandemic is having a positive impact on the demand of biofertilizers across the region during the COVID pandemic.

The Europe biofertilizers market is segmented on the basis of product type, microorganism, crop type, application, and country. Based on product type, the market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. In 2020, nitrogen fixing segment held the largest share in the market, phosphorus solubilizing is expected to be the fastest growing segment during the forecast period. Based on microorganism, the market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. In 2020, rhizobium segment held the largest share in the market, and phosphate solubilizing bacteria is expected to be the fastest growing segment during the forecast period. Based on crop type, the market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. In 2020, cereals and grains companies segment held the largest share in the market, and fruits and vegetables is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into seed treatment, soil treatment, and others. In 2020, seed treatment segment held the largest share in the market, and soil treatment is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. In 2020, Rest of Europe held the largest share in the market, and Italy is expected to be the fastest growing country during the forecast period.

Mapleton Agri Biotec Pt Ltd.; Mapleton Agri Biotec Pt Ltd.; Novozymes; RIZOBACTER; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA are among the leading companies in the Europe biofertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Rizobacter begins to develop Azospirillum-based inoculants which is free-living bacteria that associate with plants, promoting plant development.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com