The North America biological organic fertilizers market size was valued at 952.7 million in 2019 and is anticipated to expand at a significant CAGR during the forecast period 2020–2028. Growth of the market is attributed to rapid development in food industry, increasing demand for high yield crops, growing concern about environment, and increasing environmental regulations.
Organic fertilizers are compost that are organically formed and have carbon. The biological fertilizers are substances that can be supplied to plants and soil, in sequence to provide better sustain growth and nutrition’s. Generally biofertilizers contain all animal waste such as mineral sources, manure, meat processing, slurry, guano, and plant based composts like biosolids and manures. The biological organic fertilizers are bio-chemical mixtures, that assist in adapting physiological developments of crops. These fertilizers severely affect the differentiation and growth of organs, plant cells, and tissues. With the rapid development in agriculture sector, the requirement of biological organic fertilizers was also increasing.
The covid-19 pandemic affected the demand and supply of the North America biological organic fertilizers market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increased demand for biological organic fertilizers is projected to boost the market.
- Increasing research funding for agriculture sector is the major factor fueling the market.
- Low adaptation rate and high cost of organic fertilizers is projected to restrict the market expansion during the forecast period.
- Lack of awareness about organic fertilizers among farmers is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in biological organic fertilizers market is projected to offer lucrative opportunities for the market players.
Scope of North America Biological Organic Fertilizers Market Report
The report on the North America biological organic fertilizers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Biological Organic Fertilizers Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2019
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Historic Data
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2017-2018
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Forecast Period
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2020-2028
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Segmentation
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Types [Organic Residues and Microorganism], Application [Fruits and Vegetables, Legumes, Plantations, Cereals, and Others]
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Regional Scope
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North America [Canada, Mexico, United States, and Rest of North America]
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Ajay Bio-Tech Ltd., Symbong SL, Biomax Pharma Services, T Stanes & Company Limited, Novozymes A/S, Corteva Agriscience, Labiofam SA, Bio Nature Technology PTE Ltd., Krishak Bharati Cooperative Limited, and Antibiotice S.A.
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North America Biological Organic Fertilizers Market Segment Insights
Based on types, the North America biological organic fertilizers market is bifurcated into organic residues and microorganism. The organic residues segment accounts for a key share of the market. Growth of the market is attributed to increasing adaptation of organic farming methods, increasing population, and rising crop production. However, the microorganism segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid expansion of organic food industry, increasing demand for bio fertilizers, and rising consumption of organic food.
On the basis of applications, the North America biological organic fertilizers market is segmented into fruits and vegetables, legumes, plantations, cereals, and others. The fruit and vegetables segment accounts for a key share of the market. Growth of the market attributed to increasing supply of quality products and rising cost of chemical fertilizers. The cereals segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing customer preferences towards organic methods of cultivation and increasing availability of arable land.
On the basis of regions, the North America biological organic fertilizers market is categorized as Canada, Mexico, United States, and Rest of North America. The market of Canada is estimated to expand at a high CAGR during the forecast period due to rapid economic growth in region and encouragement from government organizations. The market of United States is estimated to hold a key market share due to increasing population and increasing demand for premium quality crops.
Segments
The North America biological organic fertilizers market has been segmented on the basis of
Types
- Organic Residues
- Microorganism
Applications Types
- Fruits and Vegetables
- Legumes
- Plantations
- Cereals
- Others
Region
Key Players
Competitive Landscape
Key players competing in the North America biological organic fertilizers market include Ajay Bio-Tech Ltd., Symbong SL, Biomax Pharma Services, T Stanes & Company Limited, Novozymes A/S, Corteva Agriscience, Labiofam SA, Bio Nature Technology PTE Ltd., Krishak Bharati Cooperative Limited, and Antibiotice S.A.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.
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