Market Size of Europe Biofertilizers Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 1.04 Billion |
Market Size (2029) | USD 1.63 Billion |
CAGR (2024 - 2029) | 9.30 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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.
Microorganism | |
Rhizobium | |
Azospirillum | |
Azotobacter | |
Phosphate Solubilizing Bacteria | |
Mycorrhiza | |
Other Biofertilizers |
Crop Type | |
Cash Crops | |
Horticultural Crops | |
Row Crops |
Geography | |
Germany | |
United Kingdom | |
France | |
Spain | |
Italy | |
Russia | |
Rest of Europe |
Europe Biofertilizers Market Size Summary
The European biofertilizer market is poised for significant growth, driven by the European Union's strong emphasis on sustainable agricultural practices and the adoption of eco-friendly alternatives to chemical fertilizers. The EU's Common Agricultural Policy and the European Green Deal are pivotal in promoting bio-based products and organic farming, offering financial incentives to farmers for maintaining sustainable practices. These initiatives, coupled with the challenges of soil nutrient deficiency and environmental concerns, are fostering the adoption of biofertilizers as a viable solution to enhance soil health and crop yield. The market is further bolstered by innovations such as Symborg's Qlimax, which underscores the increasing integration of modern agricultural techniques and corporate initiatives aimed at promoting sustainable farming.
The growing demand for organic food and the expansion of organic farming areas across Europe are key factors propelling the biofertilizer market. The European Commission's Farm to Fork Strategy and the Organic Action Plan are instrumental in boosting organic demand and supply, encouraging farmers to adopt organic practices. Mycorrhiza, a leading biofertilizer in Europe, plays a crucial role in enhancing nutrient uptake and crop yields, while also addressing food safety concerns by reducing arsenic intake in plants. The market is characterized by a consolidation of major players who are actively engaging in product launches, partnerships, and research and development to expand their market share. Notable companies such as ASB Greenworld, Agrinos AS, and Symborg Corporate SL are at the forefront of these efforts, contributing to the anticipated growth of the biofertilizer market in the region.
Europe Biofertilizers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Microorganism
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2.1.1 Rhizobium
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2.1.2 Azospirillum
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2.1.3 Azotobacter
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2.1.4 Phosphate Solubilizing Bacteria
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2.1.5 Mycorrhiza
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2.1.6 Other Biofertilizers
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2.2 Crop Type
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2.2.1 Cash Crops
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2.2.2 Horticultural Crops
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2.2.3 Row Crops
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2.3 Geography
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2.3.1 Germany
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2.3.2 United Kingdom
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2.3.3 France
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2.3.4 Spain
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2.3.5 Italy
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2.3.6 Russia
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2.3.7 Rest of Europe
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Europe Biofertilizers Market Size FAQs
How big is the Europe Biofertilizers Market?
The Europe Biofertilizers Market size is expected to reach USD 1.04 billion in 2024 and grow at a CAGR of 9.30% to reach USD 1.63 billion by 2029.
What is the current Europe Biofertilizers Market size?
In 2024, the Europe Biofertilizers Market size is expected to reach USD 1.04 billion.