Latin America Biofertilizers Market

Latin America Biofertilizers Market Size (2024 to 2029)

The biofertilizers market size in Latin America was worth USD 0.34 billion in 2023. The Latin American market is expected to grow at a CAGR of 13.9% from 2024 to 2029 and be valued at USD 0.74 billion by 2029 from USD 0.39 billion in 2024.

Biofertilizers are derived from various animal and plant-based remains and mineral ores and are also developed from advantageous microorganisms like bacteria and fungi. These organic fertilizers help keep the soil environment rich with diverse kinds of micro and macronutrients by nitrogen fixation and by releasing plant growth-regulating substances.

The market is driven by aspects such as a rise in demand for fertilizers due to the increase in food production and advancement in biofertilizer manufacturing machinery. Drive from governments and sufficient support for supportable farming is probable to maintain stable growth in the market.

The high cost of these Biofertilizers is obstructing the growth of the Latin American biofertilizers market.

Based on type, the nitrogen-fixing bio-fertilizer segment is expected to account for the major share of the Latin American market during the forecast period. The growth of the segment is majorly driven by the increasing acceptance and demand of these fertilizers and is expected to expand enormously.

REGIONAL ANALYSIS

Latin America had a considerable share of the worldwide market in 2023 and is predicted to grow at a healthy CAGR during the forecast period. Due to the availability of large arable lands and high population growth, the Brazilian market is estimated to grow at the highest CAGR in the forecast period.

KEY PLAYERS IN THE LATIN AMERICA BIOFERTILIZERS MARKET

The value chain includes producers in the Biofertilizers market and they are Lallemand Inc., Camson Bio Technologies Limited, Rizobacter Argentina S.A., Novozymes A/S, Camson Bio Technologies Limited and Nutramax Laboratories Inc., Symborg S.L., Mapleton Agri Biotech Private Ltd and AgriLife.

DETAILED SEGMENTATION OF THE LATIN AMERICA BIOFERTILIZERS MARKET INCLUDED IN THIS REPORT

This research report on the Latin American biofertilizers market has been segmented and sub-segmented based on type, crop type, microorganism, mode of application, form, and country.

By Type

• Nitrogen Fixing
• Phosphate Solubilizing
• Potash Mobilizing

By Crop Type

• Cereals & Grains
• Pulses & Oilseeds
• Fruits & Vegetables

By Microorganism

• Azotobacter
• Azospirillium
• Rhizobium
• Phosphate Solubilizing Bacteria
• Cyanobacteria

By Mode of Application

• Seed Treatment
• Soil Treatment

By Form

• Pure & Mixed Liquid Fermentations
• Dispersible Granules
• Pellets

By Country

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America