Nitrogen Fixing segment to dominate the North America Biofertilizers Market during 2020–2028

According to a new market research study on “North America Biofertilizers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product type, Microorganism, Crop type, and Application” is expected to reach US$ 1,181.00 million by 2028 from US$ 487.39 million in 2021. The market is estimated to grow at a CAGR of 11.9% from 2021 to 2028. The report provides trends prevailing in the North America biofertilizers market along with the drivers and restraints pertaining to the market growth. Growing initiatives by government agencies and increase in awareness pertaining to the need for sustainability in modern agriculture, boosting growth of organic farming, and surge in the production and yield of crops are the major factor driving the growth of the North America biofertilizers market. However, lesser shelf life of biofertilizer hinders the growth of North America biofertilizers market.

The US has the highest number of confirmed COVID-19 cases among all key countries in the region. This has negatively impacted the overall manufacturing processes, research, and development activities. The significant disruption in manufacturing facilities, along with raw material sourcing, has had a negative impact on the biofertilizer market. Along with this, the pandemic has had a negative impact on the food supply chains, simultaneously affecting farm production, transport, and logistic. During the pandemic, there have been changes in the consumer lifestyle which has led to an increase in demand for healthy food products which is driving the demand for organic food products. The growing consumer focus on organic food products due to the pandemic is leading to an increase adoption of organic farming practices which is promoting the demand for biofertilizer in the North American market.

The North America biofertilizers market is segmented on the basis of product type, microorganism, crop type, application, and country. Based on product type, the market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. In 2020, nitrogen fixing segment held the largest share in the market, phosphorus solubilizing is expected to be the fastest growing segment during the forecast period. Based on microorganism, the market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. In 2020, rhizobium segment held the largest share in the market, and phosphate solubilizing bacteria is expected to be the fastest growing segment during the forecast period. Based on crop type, the market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. In 2020, cereals and grains companies segment held the largest share in the market, and fruits and vegetables is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into seed treatment, soil treatment, and others. In 2020, seed treatment segment held the largest share in the market, and soil treatment is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest share in the market, and Mexico is expected to be the fastest growing country during the forecast period.

Kiwa Bio-Tech Products Group Corporation; Mapleton Agri Biotec Pt Ltd.; Mapleton Agri Biotec Pt Ltd.; Novozymes; RIZOBACTER; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA are among the leading companies in the North America biofertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Novozymes launched new range of effective bio solutions and industry-leading services launched for the U.S. agricultural market.

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