The Latin America biological organic fertilizers market size was valued at USD xx Billion in 2022 and is projected to reach USD xx Billion by 2031, expanding at a CAGR of xx% during the forecast period, 2023-2031. The growth of the market is attributed to restrict regulations on use of synthetic agricultural chemical treatments on the exported grain and other crops.
Latin America is made up of smallholder farmers who require the development of sustainable technology at affordable prices for their economic situation. Biofertilizers made from free-living bacteria stimulate plant development, increase productivity by strengthening the roots, and minimize the quantity of synthetic fertilizer used on crops.
According to Food and Agriculture Organization (FAO) of US in 2019 Latin America region has 576 million hectares of agricultural land and produces 14 percent of food production and 23 percent of agricultural and fisheries exports.
There are around 15 million farmers in the region there are about 200 million hectares of degraded land, and 50 percent of agricultural soils suffer some degree of erosion owing to poor management and loss of plant cover.
Latin America is a significant net exporter of food and agricultural commodities, accounting for 16% of total world food and agricultural exports and 4% of total global food and agricultural imports.
It would be just as crucial for the region to sustainably increase agricultural productivity and production of smallholders as it will be to increase the output of export powerhouses. However regions and their nation are implementing strict guideline or ban on foods contains chemicals and pesticides are major factor opting for biofertilizer and organic pesticide in use.
In Latin America, the Sustainable Agriculture Associate Group has been founded at the federal level in the mid-2010 to stimulate the on-farm production of microorganisms for fertilization or plant health. Scientists are assisting these farmers in their search for microbiological engineers.
Myconativa, which was founded in 2017, received US$68,000 from Chile's Economic Development Agency (CORFO) and US$34,000 from the Scientific and Technological Development Support Fund (FONDEF). Too far, three types of biofertilizers have been developed: one for irrigation ponds, one for nursery plants or seedlings, and the most current, a fertilizer for urban gardens and houseplants.
Organic is a labelling phrase that denotes that a food or other agricultural product was grown using recognized procedures. Before items may be branded USDA organic, they must meet stringent requirements that must be confirmed by a USDA-accredited certification agent.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing health-conscious population is projected to drive the market during the forecast period.
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Rising prices of chemical fertilizers is anticipated to boost the market in the coming years.
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Growing strong commercial appeal related to its benefits to soil and the environments expected to boost the market.
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Growing demand for protein rich food is expected to push the market growth.
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Increasing emphasis by government agencies on sustainability is projected to fuel the market.
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Increasing adoption for organic farming practices is expected to spur the market expansion during the forecast period
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Rapid growth in agriculture industry is key factors boosting driving the market in the coming years.
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Competition from similar types of products act as major challenges that can hamper the market growth.
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advances in molecular biology, the fermentation process may now be cost-effective and simplified for commercial manufacturing is expected to create immense opportunities for the market players.
Scope of the Report
The report on the Latin America biological organic fertilizers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Biological Organic Fertilizers Market - Latin America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Legumes, Fruits & Vegetables, Cereals, and Plantations,), Types (Microorganism [Az spirillum, Blue-green Algae, Phosphate Solubilizing Bacteria, Mycorrhiza, Rhizobium, Azotobacter, and others], and Organic Residues [FYM, Crop Residues, Green Manure, and Other])
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Regional Scope
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Latin America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Embrafos; Tstanes Pvt Ltd; Bioprotan Pvt Ltd; Mabiotec; Rizobacter Argentina S.A
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Latin America Biological Organic Fertilizers biopesticides Market Segment Insights
The legumes segment is projected to constitute a key market share
Based on applications, the Latin America biological organic fertilizers market is divided into legumes, fruits & vegetables, cereals, and plantations. The legumes segment is expected to account for a key share of the market during the forecast period owing to is a major producer of legume crops such corn, maize and others.
The phosphate solubilizing bacteria segment is segment is expected to grow at a robust pace
On the basis of types, the Latin America biological organic fertilizers market is segmented into microorganism and organic residues. The microorganism is further segmented into Az spirillum, blue-green algae, phosphate solubilizing bacteria, mycorrhiza, rhizobium, azotobacter, and others. The phosphate solubilizing bacteria segment is expected to account for a key share of the market during the forecast period owing to help plants develop by increasing the efficacy of biological nitrogen fixing.
Segments
The Latin America biological organic fertilizers market has been segmented on the basis of
Applications
- Legumes
- Fruits & Vegetables
- Cereals
- Plantations
Types
- Az spirillum
- Blue-green Algae
- Phosphate Solubilizing Bacteria
- Mycorrhiza, Rhizobium
- Azotobacter
- others
- FYM
- Crop Residues
- Green Manure
- Other
Region
Key Players
- Embrafos
- Tstanes Pvt Ltd
- Bioprotan Pvt Ltd
- Mabiotec
- Rizobacter Argentina S.A
Competitive Landscape
Key players competing in the Latin America biological organic fertilizers market include Embrafos; Tstanes Pvt Ltd; Bioprotan Pvt Ltd; Mabiotec; Rizobacter Argentina S.A.
Some of these players are coming up with business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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