Latin America Bio Organic Fertilizer Market

Latin America Bio Organic Fertilizer Market Size (2024 to 2029)

The Latin American bio-organic fertilizer market size is expected to reach USD 0.25 billion in 2024 and reach USD 0.42 billion by 2029, growing at a CAGR of 10.63% from 2024 to 2029.

Bioorganic fertilizer is a substance that consists of living microorganisms, which help in the growth of the plant by increasing the supply of nutrients to it. Increase in the use of bio-fertilizers is expected to reduce the demand for chemical fertilizers and pesticides as they hamper the health of the soil.

Factors such as rising environmental awareness, enhancing soil fertility, and increasing demand for organic food are key driving factors for the market. Factors restraining the growth of the bio-fertilizer market are a lack of awareness and a lower adoption rate by farmers. The Shortage of fertilizers in regions like Latin America and Africa, the formulation of favorable government policies, and countries having agriculture-dominant economies would provide growth opportunities for this market.

This research report on the Latin America bio organic fertilizer market is segmented and sub-segmented into the following categories.

Latin America Bio Organic Fertilizer Market Analysis By Type

• Nitrogen Fixing Bio-Fertilizers
• Phosphate Solubilizing Bio-Fertilizers
• Potash Mobilizing Bio-Fertilizers
• Others

Nitrogen-fixing bio-fertilizer is one of the prominent substitutes for commercial nitrogen fertilizers. The market scope for this bio-fertilizer is vast, as it is majorly used as nitrogen source for rice. Rice is an essential crop in many countries, namely India, China, Indonesia, and Brazil, Japan and others, thus enhancing the market for the nitrogen-fixing fertilizers.

Latin America Bio Organic Fertilizer Market Analysis By Application

• Fruits and Vegetables
• Plantations
• Cereals
• Pulses and Oilseeds
• Others

Among these, fruits and vegetables are the most produced crop as they are majorly consumed as meals. As food is the primary need of human being, production of fruits and vegetables is going to be most prominent, thus enhancing the scope for bio-fertilizers.

COUNTRY ANALYSIS

• Argentina
• Brazil
• Mexico

KEY PLAYERS IN THE LATIN AMERICA BIO ORGANIC FERTILIZER MARKET

Some of the key players dominating the market are Gujarat State Fertilizers & Chemicals (GSFC), Lallemand, Novozymes, Symborg, Biomax, Agri Life, Ajay Bio-Tech Ltd and Antibiotice S.A.