Product ID: UCMIR15C2044
Report ID:
UCMIR15C2044 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The biofertilizer market in Canada is anticipated to experience a steady growth with a compound annual growth rate (CAGR) of 10.44% in the foreseeable future. Biofertilizers have become an indispensable resource for Canadian and global farmers in addressing the food supply demands of an expanding population. They have gained substantial traction as a practical solution for enhancing soil quality and crop health since their introduction. Furthermore, the Canadian government is committed to reducing synthetic fertilizer usage as part of its "Canada's Strengthened Climate Plan" unveiled in December 2020, with a focus on decreasing greenhouse gas emissions associated with fertilizers by 40-45% by 2030.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Fertilizers & Agricultural Chemicals by segment aggregation, the contribution of the Fertilizers & Agricultural Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR15C2044