North America Biofertilizers Market Share, Growth Drivers, Emerging Trends, CAGR Status, Competitive Analysis and Forecast Till 2023-2033: SPER Market Research
Biofertilizer refers to an organic material containing living microorganisms that support the growth and resilience of plants. It can be applied to seeds, plant surfaces, soil, or the plant’s interior, providing essential primary nutrients. Biofertilizers aid in nitrogen fixation, promote plant growth, facilitate phosphorus solubilization, and improve soil fertility. As an environmentally friendly substance, biofertilizer reduces the reliance on chemical fertilizers and pesticides.
According to SPER market research, ‘North America Biofertilizers Market Size- By Microorganism, By Technology Type, By Application, By Crop Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the North America Biofertilizers Market is estimated to reach USD 3.34 billion by 2033 with a CAGR of 13.63%.
The world’s largest market for biofertilizer is found in North America. The region’s growing need for organic food has increased demand for biofertilizers. The market for biofertilizer has benefited from new inventions, easy accessibility to the product, growing land area for organic farming, and appropriate cost. In the next years, the market will be driven by growing awareness of the various health and environmental advantages of biofertilizers. Global farmers are increasingly adopting biofertilizers due to heightened government initiatives, particularly in low-input agriculture promoting sustainable practices. Modern agriculture’s increasing need for sustainability is met by biofertilizers, contributing to reduced greenhouse gas emissions, energy and water conservation, and lower drought risks. Biofertilizers enhance soil health, crop productivity, and provide plants with growth-promoting phytohormones. Notably, biofertilizers, unlike chemical counterparts, have no lasting environmental impacts, making them a cost-effective and sustainable source of plant nutrition and supporting integrated nutrition management in agriculture.
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The North American biofertilizer sector faces challenges because of unfavourable pricing conditions and insufficient government support for organic farming. To capitalise on the growing preference for organic production, the biofertilizer sector must overcome obstacles such limited government backing and cost concerns. Furthermore, there are drawbacks to biofertilizer products, such as their short shelf life and vulnerability to contamination. High temperatures render the microorganisms in biofertilizers nonviable, requiring storage in a cold, dry place. Microorganism survival during storage poses a challenge to agricultural inoculation technology, which is controlled by various parameters such as the culture medium, harvesting conditions, dehydration process, drying pace, temperature control, and water activity.
Furthermore, due to the highest number of verified COVID-19 cases in the region, the biofertilizer market’s production, R&D, and development are negatively impacted by the United States. The pandemic’s effects on food supply chains have led to disruptions in production and raw material sourcing, which have had a detrimental effect on the biofertilizer sector. Consumer lives have changed as a result of the epidemic, raising interest in organic farming and creating a demand for healthier food products. Because of the pandemic, consumers are becoming more conscious of the need for organic food, which is encouraging the use of organic farming methods and, in turn, increasing the need for biofertilizers in the North American market.
The United States accounted for major percentage of the market revenue, making it the primary market. In the biofertilizer business in North America, Mexico is also the developing market. Additionally, some of the market key players are Agriculture Solutions, Inc., California Organic Fertilizers, Inc., Fertilizers USA LLC, Fertoz, Kiwa Bio-Tech Products Group Corporation, Rizobacter Argentina SA, Others.
North America Biofertilizers Market Segmentation:
By Microorganism: Based on the Microorganism, North America Biofertilizers Market is segmented as; Azospirillum, Azotobacter, Blue-green Algae, Mycorrhiza, Phosphate Solubilizing Bacteria, Rhizobium, Other Microorganisms.
By Technology Type: Based on the Technology Type, North America Biofertilizers Market is segmented as; Carrier Enriched Biofertilizers, Liquid Biofertilizers, Other Technology Types.
By Application: Based on the Application, North America Biofertilizers Market is segmented as; Seed Treatment, Soil Treatment.
By Crop Type: Based on the Crop Type, North America Biofertilizers Market is segmented as; Commercial Crops, Fruits and Vegetables, Grains and Cereals, Pulses and Oilseeds, Other Crop Types.
By Region: This research also includes data for Canada, Mexico, United States, Rest of North America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
North America Biofertilizers Market Outlook
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