North America bio fertilizer market expected to grow 14.4%
The bio-fertilizers market is an emerging market in North America, and is projected to grow at a compound annual growth rate (CAGR) of 14.4% during the period of 2013 to 2018. In order to maintain the soil fertility as well as the yield of the crop, the farmers are expressing preference toward organic manures and bio-fertilizers. The U.S. is a major market, observed to have acquired the highest share of the total market revenue in 2012. It is expected to grow at the rate of 14.9% between 2013 and 2018. The Mexican market is an emerging market in the North American industry. Nitrogen fixing bio-fertilizers have been used in the U.S. for decades. These fertilizers have wide applications in the turf and organic farming in this region, the most important being the usage in the farming of legume crops. They are also applied in cereals and oilseeds.
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Europe Bio Fertilizer Market:
The bio-fertilizers market in Europe is the most developed and widespread among all the other regions. It is anticipated to grow at a CAGR of 12.3% from 2013 to 2018. The distribution network of bio-fertilizers is well-established in many European countries. The increasing demand for organic food is triggering the utilization of bio-fertilizers along with organic manures. The governments in most countries, as well as the regional bodies, designed various policies in support of organic farming and against the sporadic utilization of chemical fertilizers. Countries such as France, Denmark, and Spain have already reduced the overall agricultural chemical usage by more than 30%, thus giving rise to the wide usage of organic manures and bio-fertilizers as a supplement or substitute to chemical fertilizers. The nitrogen fixing bio-fertilizers segment covers more than 50% share of European market.
Asia Bio Fertilizer Market:
The Asia-Pacific region is the most populated region in the world, and accounts for almost 30% of the total land on earth. The use of bio-fertilizers is becoming a common practice in countries such as India, China, and other less developed countries such as Taiwan and Thailand. The gradually increasing interest of the population in organically grown food products is also fueling the application of bio-fertilizers in varied areas such as pulses, cereals, and various types of plantations. The governments in member countries such as India and Taiwan are promoting the use of bio-fertilizers to protect the environment. The Asia-pacific market for bio-fertilizers is projected to grow at a CAGR of 14.8% from 2013 to 2018. China covers more than 30% share of the Asia-pacific market. Most of the bio-fertilizers are used for the production of cereals. Nitrogen fixing bio-fertilizers are the most preferred bio-fertilizers in the region.
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