According to the Graphical Research new growth forecast report titled “Bulgaria Biopesticides Market Size, By Product (Bioherbicide, Bioinsecticides, Biofugicides), By Application (Seed treatment, Foliar Spray, Soil Spray), By Crop (Grain & Oil Seeds, Fruits & Vegetables), By Form (Dry, Liquid), By Source (Microbial, Biochemical), Biostimulants Market Size, By Active Ingredients (Acid Based, Extract based) By Application (Foliar Treatment, Seed Treatment, Soil Treatment), By Crop (Row Crops, Turf & Ornaments, Fruit & Vegetables), By Form (Dry, Liquid), and Biofertilizers Market Size, By Product (Nitrogen-Fixing, Phosphate-Solubilizing, Potash-Mobilizing), By Application (Seed Treatment, Soil Treatment), By Crop (Cereals & Grains, Pulses & Oil Seeds, Fruits & Vegetables), By Form (Dry, Liquid), 2018-2024”, estimated to exceed USD 43.5 million by 2024.
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Rising environmental concern by the overuse of synthetic chemicals is the major driving factor for the Bulgaria biofertilizers, biopesticides, and biostimulants market growth. Increasing pressure from the government and non-government organizations and supporting regulations to minimize the usage of synthetic fertilizers will add to the industry landscape.
Growing government initiatives to support the agricultural sector by providing subsidies for organic farming is a key factor driving the industry growth. Consumer preferences for safety and health benefits by consuming organic foods will further support the Bulgaria biofertilizers, biopesticides, and biostimulants penetration over the forecast period. Rising disposable income and evolving local markets for certified organic agriculture in developing countries, particularly through dedicated shops, will proliferate the business expansion.
Upsurge in the output of local products owing to foreign direct investment in Bulgarian agricultural sector will encourage domestic players to be more competitive. New and innovative product launches will foster various growth opportunities for emerging players. Substantial shifts in consumer preferences towards the products free from toxic elements will boost the biofertilizers, biopesticides, and biostimulants penetration in Bulgaria. In addition, increasing organic cultivation in the country over the forecast period will enhance the growth for biofertilizers, biopesticides, and biostimulants industry.
Shifting consumer trends towards organic food products coupled with the increasing social concerns will positively impact the Bulgaria biofertilizers, biopesticides, and biostimulants industry growth. In addition, regulatory compliance and government subsidies on organic agrochemicals will support the product penetration. Moreover, shift in consumer life styles and rising purchasing power parity will further stimulate the overall biofertilizers, biopesticides, and biostimulants market growth.
Rapid changes in the climate conditions owing to global warming affecting crop yield will positively affect the business expansion over the forecast period. Increasing requirement for crop protection over heat, disease and drought that limit the nutrient acceptance from the roots towards plant will promulgate the Bulgaria biofertilizers, biopesticides, and biostimulants industry size.
Growth in governmental allocation of seeds cleaning, calibration, and treatment technologies for crop productivity is expected to aid Bulgaria biofertilizers, biopesticides, and biostimulants market growth. Several public R&D companies are collaborating with countries including Romania and Russia for concluding distribution services agreements.
Bulgaria accounted for a revenue size of over USD 20 million in 2017 owing to the growing technology & innovations related to biofertilizers, biopesticides, and biostimulants and an increase in their applications scope. Surging crop loss owing to the various crop-related diseases & insects and change in farming practices will augment the Bulgaria biofertilizers, biopesticides, and biostimulants market size. In addition, upsurge in the demand for high-quality crop yield owing to the rising organic food demand will enhance the overall product portfolio.
Key players operational in the Bulgaria biofertilizers, biopesticides, and biostimulants market are Agro-Bio Trading, Prima Organic, Agro World 98 Dobrich, AgroBioStim, Agro-Bio Trading, AGRIA, AgroBioStim, Agro World 98, Sembodja, and Dobrich. Prominent industry players are adopting various business maneuvers such as new product launches, mergers, and acquisitions coupled with joint ventures and strategic alliances to gain profits in the market. For instance, on 30th May 2017, AGRIA acquired 55% of the share capital of Silk Gas BG Ltd., Varna, operating in the field of grain crop trade in North Eastern Bulgaria. The acquisition provided the company to expand its production facilities across the country for generating more crop yield.
Segments we cover:
Bulgaria Biofertilizers Market By Product
Bulgaria Biofertilizers Market By Application
- Seed Treatment
- Soil Treatment
Bulgaria Biofertilizers Market By Crop
- Cereals & Grains
- Pulses & Oil Seeds
- Fruits & Vegetables
Bulgaria Biofertilizers Market By Form
Bulgaria Biopesticides Market By Product
Bulgaria Biopesticides Market By Application
- Seed treatment
- Foliar Spray
- Soil Spray
Bulgaria Biopesticides Market By Crop
- Grain & Oil Seeds
- Fruits & Vegetables
Bulgaria Biopesticides Market By Form
Bulgaria Biopesticides Market By Source
Bulgaria Biostimulants Market By Active Ingredients
Bulgaria Biostimulants Market By Application
- Foliar Treatment
- Seed Treatment
- Soil Treatment
Bulgaria Biostimulants Market By Crop
- Row Crops
- Turf & Ornaments
- Fruit & Vegetables
Bulgaria Biostimulants Market By Form
Browse key industry insights from this Report @ https://www.graphicalresearch.com/table-of-content/1185/bulgaria-biofertilizers-biopesticides-and-biostimulants-market
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