Latin America Biofertilizers Market was worth $0.26 billion in 2021 and estimated to be growing at a CAGR of 13.9%, to reach $0.45 billion by 2027.
Biofertilizers are derived from various animals and plant-based remains, mineral ores and also developed from advantageous microorganisms like bacteria and fungi. These organic fertilizers help in keeping the soil environment rich with diverse kinds of micro and macronutrients by nitrogen fixation and by releasing of 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 Biofertilizers market.
Phosphate Solubilizing and Potash Mobilizing
Cereals & Grains
Pulses & Oilseeds and Fruits & Vegetables
Phosphate Solubilizing Bacteria and Cyanobacteria
Seed Treatment and Soil Treatment
Pure & Mixed Liquid Fermentations
Dispersible Granules and Pellets
Nitrogen-fixing bio-fertilizer is the leading segment of the market which is fuelled by the increasing acceptance and demand of these fertilizers and is expected to expand enormously.
Geographically the market is segmented into
Due to the availability of large arable lands and high population growth, the Brazil market is estimated to grow at the highest CAGR in the forecast period.
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.
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