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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