North America Biofertilizers Market Size and Share, Revenue, Growth Drivers, Rising Trends, Challenges, Opportunities and Future Outlook 2033: SPER Market Research
Biofertilizers are materials that include microorganisms that boost soil fertility, which in turn helps plants and trees develop by increasing the availability of vital nutrients in the soil. Microbes such as bacteria, mycorrhizal fungus, and blue-green algae make up biofertilizers. For the purpose of supporting the growth of plants and trees, mycorrhizal fungi primarily remove nutrients from organic materials, whereas cyanobacteria are distinguished by their ability to fix nitrogen. Biofertilizers are widely recognized for their composition, affordability, and environmental friendliness. For a longer period of time, biofertilizers such rhizobium, blue green algae, and azotobacter have been utilized. Biofertilizers are materials that include microorganisms and help plants and trees thrive by supplying more vital nutrients to the soil.
According to SPER market research, ‘North America Biofertilizers Market Size- By Microorganism, By Technology Type, BY Source, By Application, BY Crop Type- Regional Outlook, Competitive strategies and Segment Forecast to 2033’ state that the North America Biofertilizers Market is predicted to reach USD 3.34 billion by 2033 with a CAGR of 13.63%.
The market for biofertilizers is expected to rise as a result of a number of government programs as well as increased awareness of the need for sustainable practices in modern agriculture. Customers are worried about food safety, rising food residue, and environmental difficulties as a result of growing public health concerns. People are eating organic food that is devoid of chemicals as a result of this understanding. Since green manure and biofertilizers are necessary for organic farming, the market for biofertilizers has been driven by consumer demand for these goods. Due to the rising demand for organic cereals in emerging nations due to their superior nutritional value, biofertilizer use in cereals and grains is also rising.
Nonetheless, there are several obstacles in the way of North America’s biofertilizer market expansion. One of the main factors affecting the biofertilizer market is pricing, which is now having a negative effect. The government’s inadequate support for organic farming has hindered the expansion of biofertilizers. A few other obstacles to the commercialization of biofertilization are the delayed reaction of biofertilizers, the market’s availability of low-quality bioinoculants, and the industry’s restricted capacity for industrial production. When exposed to high temperatures, biofertilizers become viable; nevertheless, they are also prone to contamination and have a short half-life. Another factor impeding the growth of the biofertilizer market is the dearth of testing and research facilities.
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The COVID-19 pandemic has caused a worldwide lockdown, which has hampered research and development as well as the industrial process overall. Uncertainties about sourcing and manufacturing have hurt the biofertilizer sector. The food supply chain was also disrupted by the outbreak, which reduced the market for biofertilizers. The epidemic has also changed consumer behaviour, increasing interest in organic farming and creating a need for nutrient-rich food.
North America Biofertilizers Market Key Players:
Because of huge demand of nutrient rich food products and organic farming, North America accounted for the biggest revenue share geographically in Biofertilizers market. The biofertilizers market has benefited from innovative technologies, increasing land area for organic farming, and reasonable pricing. There are some key players in biofertilizers market expansion are Agriculture Solutions, Inc., Agrinos, Agrocare Canada, BioFert Manufacturing Inc., California Organic Fertilizers, Inc., and others.
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North America Biofertilizers Market Outlook
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