Europe Biofertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Nitrogen Fixing, Phosphorus Solubilizing, Potassium Mobilizing, and Others), Microorganism (Rhizobium, Azotobacter, Phosphate Solubilizing Bacteria, and

Europe Biofertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Nitrogen Fixing, Phosphorus Solubilizing, Potassium Mobilizing, and Others), Microorganism (Rhizobium, Azotobacter, Phosphate Solubilizing Bacteria, and Others), Crop Type (Cereals and Grains, Oil seeds and Pulses, Fruits and Vegetables, and Others), and Application (Seed Treatment, Soil Treatment, and Others)

The biofertilizers market in Europe is expected to grow from US$ 469.34 million in 2021 to US$ 1,153.11 million by 2028; it is estimated to grow at a CAGR of 12.1% from 2021 to 2028. The increase in government initiatives in various countries has encouraged farmers to use biofertilizers in farming practices. For instance, the “Common Agricultural Policy” in the European Union (EU) is promoting the use of bio-based products, along with organic farming, across the region and provides up to 30.0% of the budget as direct green payment to farmers complying with sustainable agricultural practices. Also, there has been an increased need for sustainability in modern agriculture as sustainable farming methods are the cornerstone of low-input agriculture. Sustainable agriculture conserves energy and water, decreases the vulnerability to drought, and reduces greenhouse gas emissions. Biofertilizers help in improving crop yield and soil health, along with providing various growth-promoting hormones and phytohormones to the plants. Moreover, biofertilizers do not leave any residual effects, unlike chemical fertilizers, and thus, are ideal for sustainable agriculture. Biofertilizer is also one of the essential components of integrated nutrient management as they are a cost-effective and renewable source of proteins required for plant growth.

In Europe, currently, the UK and Russia are the hardest-hit countries by the COVID-19 pandemic, followed by France, Spain, Italy, and Germany. Initially, other member states implemented drastic containment measures and travel (domestic and international) restrictions that impacted the trade sector in the region. The shutdown of manufacturing units and difficulties faced in the procurement of raw materials had a negative impact on the biofertilizer market in this region in 2020. According to a survey conducted by The Syngenta Group, 46% of large farmers in the European Union (EU) stated that their farming businesses were impacted by the COVID-19 pandemic. However, European consumers consumed more organic products during the pandemic. As the sales of organic farming are increasing in Germany, more and more farms are seizing the opportunity to go organic. Thus, an increase in organic farming during the pandemic is likely to have a continued positive impact on the demand of biofertilizers across the region in the coming years.

The Europe biofertilizers market is segmented on the basis of product type, microorganism, crop type, and application. Based on microorganism, the market is segmented into Rhizobium, Azotobacter, phosphate solubilizing bacteria, and others. In 2020, the Rhizobium segment held the largest share in the market. Rhizobium is one of the most effective and widely used biofertilizers. It is applied to legume fields to fix the atmospheric nitrogen. The symbiotic association between rhizobium bacteria and legumes results in the formulation of root nodules. Rhizobia are diazotrophic bacteria, which are used for improving the quality of agricultural soil; this helps in plant growth by nitrogen fixation and potash mobilizing. Plant growth-promoting rhizobacteria help eliminate the unnecessary microbial flora present around plant roots. They also help in retaining the original fertility of the soil.

The Europe biofertilizers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe biofertilizers market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe biofertilizers market. 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 market.

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