North America Biological Organic Fertilizers Market - By Microorganism, Organic Residue, Application and Geography-Market Shares, Forecasts and Trends (2017 - 2022)
The North America Biological Organic Fertilizer Market is slated to grow at a CAGR of 14.1% during 20152-2020; the regional market accounts for more than one-third of the global market share. Organic fertilizers are derived from many animal plant based residues, mineral ores and also developed from beneficial microorganisms.
Organic fertilizer is applied in bulk or in concentrate depending on the nutrient level content in the particular concentration of product ingredients. These are low cost renewable sources of plant nutrients which supplement chemical fertilizers. The selected strains of beneficial soil microorganisms used either for seed treatment or soil application are particularly gaining momentum among farming community.
Growth in organic food industry is driving the organic fertilizers market. Increased concern about environment has paved way for use of bio based organic fertilizers. Growth in rate of adoption of sustainable farming and increasing cost of chemical fertilizers are another demand driving factors of the market. Push from Governments in many developing countries for sustainable farming is expected to maintain steady growth in the market. Less awareness among the farmers especially in developing countries is restraining the growth of the market. The developing countries of Asia-Pacific would provide substantial growth opportunity for the market.
The organic fertilizers market in North America is divided into two major segments namely organic residue based fertilizers and microorganism (biofertilizers) depending on the source of nutrients and raw materials. More than half of the market share is covered by microorganism based organic fertilizers due to its diversified product application.
By means of microorganisms, nitrogen fixing bacteria such as rhizobium, azotobacter are widely applied and account for major market share. Organic residue based fertilizers are classified into farm yard manure (FYM), crop residues and green manure etc. depending on the source of raw material. By application in crops, the market is segmented into crop based and non-crop based applications. Application of these fertilizers is more in cereal crops and the segment accounts for around 40% of the market share. Fruits and vegetables are the second largest and fastest growing segment.
North America is one of the regions with high product penetration given to the stringent environmental regulations and government support for organic agriculture. The consumption of organic fertilizers in the region is led by United States with the increasing cultivated lands under organic agriculture. The market in United States is forecasted to grow at a moderate CAGR while countries like Canada would show a higher growth rate. Investment in research and development of organic fertilizers is expected to expand market in North America and maintain a moderate growth rate.
Investment in research and development to introduce effective strains is the most sought after strategy of major players. The key players in the market are also focused on new product launch to cater to wider consumer base and expand market share in local market. All the major players have presence in North America and the regional market place is divided among the big players along with some regional players. The major players in the market are Biofertilizer A.G., Novozymes A.S., and Labiofam S.A. etc. Mergers and acquisitions and joint ventures are the preferred strategies adopted by major players to increase their respective market shares in the North America.
In this report we offer,
Market analysis for the North America Biological Organic Fertilizers Market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the North America Biological Organic Fertilizers Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped