The North America Bio fertilizers Market was worth $232.63 million in 2016 and estimated to be growing at a CAGR of 12.87%, to reach $426.14 million by 2021.
The North American bio fertilizer market is led by the U.S., followed by Canada.
Bio fertilizers play a crucial role in improving organic content in soil, which supplies necessary nutrients to plants. They are economical as compared to chemical fertilizers, as bio fertilizers escalates soil fertility in the long run by reinstating the natural nutrient generation cycle of soil.
Bio fertilizers offer several benefits to the fertility and production of soil, by naturally increasing the nutrient uptake that is necessary for the growth and progress of plants.
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The fast progress of bio fertilizer use in agriculture, in addition to the growing demand for organic food and new organic goods in the region has led to high growth of the bio-fertilizer market. The surges in the cost of synthetic fertilizers and alertness towards the necessity of balanced nourishment for plants have also fuelled the bio fertilizer market.
Price is also a significant factor for bio-fertilizer market which is presently posing a negative effect on bio-fertilizer market.
North America market for Bio fertilizers is segmented by type into Nitrogen Fixing, Phosphate Solubilizing and Potash Mobilizing. Based on crop type the market is segregated into Cereals & Grains, Pulses & Oilseeds and Fruits & Vegetables.
On the basis of microorganism segmentation is among Azotobacter, Azospirillium, Rhizobium, Phosphate Solubilizing Bacteria and Cyanobacteria. By mode of application the market is bifurcated into Seed Treatment and Soil Treatment.
By form the market is divided into Pure & Mixed Liquid Fermentations, Dispersible Granules and Pellets. Nitrogen-fixing bio-fertilizer is the leading segment of the market which is fuelled with the increasing acceptance and demand of these fertilizers and expected to expand enormously.
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Geographically the market is segmented into USA and Canada. In the U.S., the bio fertilizer industry is comparatively new, highly segregated, undercapitalized, and increasing rapidly.
The value chain includes producers in the bio fertilizers market and they are Lallemand Inc. (Canada), Rashtriya Chemicals & Fertilizers Ltd.
(India), Camson Bio Technologies Limited (India), T. Stanes & Company Limited (India), Rizobacter Argentina S.A.
(Argentina), Gujarat State Fertilizers & Chemicals Ltd. (India), Novozymes A/S (Denmark), Madras Fertilizers Limited (India), Camson Bio Technologies Limited (India) and Nutramax Laboratories Inc.
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