The European bio-organic fertilizer market was valued at USD 0.88 billion in 2023 and is anticipated to reach USD 0.99 billion in 2024 from1.97 billion by 2032, growing at a CAGR 9.36% from 2024 to 2032.
Bioorganic fertilizer is a substance that consists of living microorganisms, which help in the growth of the plant by increasing the supply of nutrients to it. Increase in the use of bio-fertilizers is expected to reduce the demand for chemical fertilizers and pesticides as they hamper the health of the soil.
Factors such as rising environmental awareness, enhancing soil fertility, and increasing demand for organic food are key driving factors for the market. Factors restraining the growth of the bio-fertilizer market are a lack of awareness and a lower adoption rate by farmers. The shortage of fertilizers in regions like Latin America and Africa, the formulation of favorable government policies, and countries with agriculture-dominant economies would provide growth opportunities for this market.
Some of the key players dominating the market are Gujarat State Fertilizers & Chemicals (GSFC), Lallemand, Novozymes, Symborg, Biomax, Agri Life, Ajay Bio-Tech Ltd and Antibiotice S.A.
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