North America Mycorrhizae Based Biofertilizers Market to Grow with a CAGR of 7.15% through 2028
Rising
utilization in the natural & organic farming is the major driver of the
North America Mycorrhizae Based Biofertilizers Market.
According to TechSci
Research report, “North America Mycorrhizae Based Biofertilizers Market- By Country,
Competition, Forecast and Opportunities, 2018-2028”, the North America Mycorrhizae
Based Biofertilizers Market stood at USD 155.93 million in 2022 and is
anticipated to grow with a CAGR of 7.15% and is expected to reach USD 233.20 million by 2028.
Mycorrhiza-based biofertilizers incorporate vesicular arbuscular mycorrhizal
fungi, fostering a symbiotic connection with the plant's root system. This
relationship expands the plant's root surface area, thereby elevating its
capacity to absorb nutrients. The mycorrhizal fungi play a pivotal role in the
extraction of nutrients, including phosphorus and micronutrients, from the
soil, subsequently transporting them to the plant roots. This, in turn, results
in elevated nutrient levels within crops, amplifying the nutritional value of
organic produce. Furthermore, mycorrhizae actively promote nutrient cycling and
enhance soil structure, contributing to the long-term health and fertility of
the soil. This sustainable approach concurrently reduces the reliance on
chemical inputs, offering dual benefits for the environment and the economic
well-being of farmers.
Additionally,
the adoption of mycorrhizae-based biofertilizers curtails nutrient leaching
into water bodies, thereby minimizing water pollution. Moreover, these
biofertilizers enhance plant resilience, potentially diminishing the necessity
for pesticides and other chemical treatments. In concert with these advantages,
mycorrhizal fungi have been correlated with heightened carbon sequestration in
soils, making a notable contribution to initiatives aimed at mitigating climate
change.
Furthermore, mycorrhizae-based
biofertilizers adhere to plant rhizoids, facilitating the formation of hyphae.
These hyphae, in turn, promote the proliferation and expansion of fine white
roots within the soil, resulting in a substantial augmentation of the
rhizosphere. The surging demand for Mycorrhizae-based biofertilizers in the
market can be attributed to the fungi's establishment of a distinctive
symbiotic rapport with plant roots, thereby enhancing the growth and resilience
of the plants they colonize. Furthermore, these biofertilizers offer advantages
for use in both organic farming and conventional commercial agriculture., are
expected to propel market expansion.
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Additionally, mycorrhiza-based
biofertilizers represent an environmentally responsible and sustainable
substitute for chemical fertilizers. They achieve this by diminishing the
reliance on chemical fertilizers and fostering soil well-being, resulting in enhanced
crop yields, and heightened agricultural productivity is expected to further
boost the market demand for mycorrhiza-based biofertilizers throughout the
forecast period.
The North
America Mycorrhizae Based Biofertilizers Market is segmented into type, form,
mode of application, application, country distribution, and company.
Based on type,
the market is divided into endomycorrhizae and ectomycorrhizae. Endomycorrhizae
is expected to hold the largest market share in the forecast period with 79.44%
in 2023. Endomycorrhizae, an arbuscular mycorrhiza (AM), is characterized by
fungal hyphae that penetrate the root cells of plants, forming intricate
structures called arbuscules and these structures enable efficient nutrient
exchange between the fungus and the plant. Moreover, endomycorrhizae create intricate structures known
as arbuscules, facilitating effective nutrient interchange between the fungus
and the plant, thus fostering mutually beneficial growth advantages which leads
to the growth of the market during the forecast period.
Based on form,
the market is categorized into liquid and solid. Liquid is expected to hold the
largest market share in the forecast period with 59.38% in 2023. This is due to
increasing focus on the liquid fertilizers as these fertilizers are easily
dissolved in water and absorbed by the pores of soil. Along with this, mycorrhizal
fungi establish a symbiotic relationship with plant roots, extending the root
system's reach and increasing its capacity to absorb essential nutrients,
particularly phosphorus and nitrogen. In liquid form, these biofertilizers are
readily absorbed by plant roots, leading to quicker and more efficient nutrient
uptake.
Based on mode of
application, the market is segmented into soil treatment, seed treatment, and
fertilization treatment. Soil treatment is expected to hold the largest market
share in the forecast period with 41.37% in 2023. This is due to their ease of
application as soil treatment methods are relatively simple and compatible with
existing agricultural practices, making it accessible to a wide range of
farmer. Furthermore, the
application of biofertilizers containing mycorrhizal spores and mycelium to the
soil is executed through diverse methods, including blending it with the soil
at planting, distributing it across the soil surface, or delivering it to the
root zone through irrigation systems, all contributing to enhanced plant growth.
Based on
application, the market is segmented into agricultural and non-agricultural.
Agricultural segment is expected to hold the largest market share in the
forecast period with 85.69% in 2023. This is due to large utilization bio-based
fertilizers in agricultural purposes which increase the crop yield and make
soil healthy by providing proper protection against different harmful effects.
Based on country,
United States took center stage as the leading contender in the North America
Mycorrhizae Based Biofertilizers Market. This is because United States is often
associated with conventional agriculture, and there has been a growing interest
in sustainable and regenerative farming practices. As well as presence of large
number of key players, contributing to the expansion of the North America
Mycorrhizae Based Biofertilizers Market.
Major companies
operating in North America Mycorrhizae Based Biofertilizers Market are:
- Premier Tech Ltd
- Plant HealthCare plc
- Valent BioSciences LLC
- Lallemand Inc.
- Helena Agri Enterprises LLC
- Symborg, Inc. (A Corteva Agriscience
Business)
- Tainio Biologicals, Inc.
- Suståne Natural Fertilizer, Inc.
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“The North
America Mycorrhizae-Based Biofertilizers Market has experienced substantial expansion
in recent times. This growth can be attributed to the growing adoption of
mycorrhizae-based biofertilizers within the agricultural sector. These
biofertilizers have proven effective in enhancing nutrient uptake efficiency,
mitigating plant diseases, and optimizing water utilization for plant growth.
Additionally, the market's progress is further propelled by a significant
volume of research and development endeavors and various government-led
sustainability initiatives. These initiatives encompass the development and
advocacy of mycorrhizae-based biofertilizers, aligning with broader ecological
objectives creates a lucrative opportunity in the market growth,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“North America
Mycorrhizae Based Biofertilizers Market, By Type (Endomycorrhizae,
Ectomycorrhizae), By Form (Liquid, Solid), By Mode of Application (Soil
Treatment, Seed Treatment, and Fertilization Treatment), By Application
(Agriculture, Non-Agriculture), By Country, By Competition, Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of North America Mycorrhizae Based Biofertilizers
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in North America Mycorrhizae
Based Biofertilizers Market.
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