The Latin America Biofertilizers Market is slated to register a CAGR of 12% from 2023–2030 to reach $408.6 million by 2030. Biofertilizers increase the nutrients of host plants when applied to their seeds, plant surface, or soil by colonizing the rhizosphere of the plant. The Latin America biofertilizers market is driven by the increase in the adoption of biofertilizers for organic farming, growing concerns regarding environmental safety, and favorable government policies and support to promote biofertilizers. However, the high cost of biofertilizers is expected to restrain the growth of this market.
Organic farming involves growing crops without synthetic (chemical) fertilizers and pesticides. In organic cultivation, natural fertilizers such as organic fertilizers and biofertilizers enhance crop production. Biofertilizers are renewable, biodegradable, sustainable, and eco-friendly. They improve soil structure, increase the soil’s water-holding capacity, and prevent plant diseases & groundwater contamination.
Chemical fertilizers are used on a large scale to enhance agricultural production. However, chemical residues in food can be harmful and may lead to diseases. As food safety has become a major concern, consumers increasingly prefer chemical residue-free produce. Organic food is grown using natural fertilizers. Consuming organic food may reduce the risk of cancer, heart disease, stroke, allergies, obesity, and many more.
In 2020, Latin America had 9.9 million hectares of organic farmland (13.3% of total organic land globally). The region recorded the highest increase in organic farmland of 1.7 million hectares from 2019 to 2020 (Source: FiBL survey 2021). In Latin America, there are 2,70,000 organic producers. The countries in Latin America leading in organic cultivation are Argentina (4.4 million hectares), Uruguay (2.7 million hectares), and Brazil (1.3 million hectares). In Latin America, 19 countries have legislation on organic agriculture. Therefore, the increasing organic agricultural land is expected to drive the demand for natural fertilizers, including biofertilizers, in Latin America.
Biofertilizers play an important role in organic farming. In addition, biofertilizers are essential components of organic farming practices because combining naturally occurring microorganisms with organically derived, nutrient-rich fertilizers provides plants with a healthy growing environment and makes the soil sustainable for future growing seasons. Biofertilizers also enhance plants’ resistance against pests and abiotic stressors such as drought, excess water, and extreme temperature changes. Providing plants with natural protection against external threats and restrictive conditions is necessary for optimal plant growth & development and reduces the need for traditional, inorganic fertilizers and pesticides. Thus, the demand for biofertilizers in organic farming is expected to grow significantly in the coming years in Latin America. Thus, growth in organic farming & the rising demand for organic food are expected to increase the adoption of biofertilizers during the forecast period.
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Nitrogen-fixing Microbes Segment is Expected to Dominate the Latin America Biofertilizers Market in 2023
Based on microorganism type, the Latin America biofertilizers market is segmented into (nitrogen-fixing microbes, [rhizobia bacteria, azospirillum, other nitrogen-fixing microbes], phosphate solubilizing & mobilizing microbes [pseudomonas, bacillus, other phosphate solubilizing & mobilizing microbes], potassium solubilizing & mobilizing microbes, other microorganism types). In 2023, the nitrogen-fixing microbes segment is expected to account for the largest share of the Latin America biofertilizer market. The segment’s large market share is attributed to the initiatives taken by government agencies along with increasing awareness about the need for sustainability in modern agriculture, hazards associated with the use of chemical fertilizers, growing health concerns, and profitable solutions to provide nitrogen to plants.
The Oilseeds & Pulses Segment to Register the Highest CAGR During the Forecast Period
Based on crop type, the Latin America biofertilizers market is segmented into (cereals & grains, [maize/corn, wheat, rice, other cereals & grains], oilseeds & pulses, fruits & vegetables, and other crop types). The oilseeds & pulses segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the rising demand for organic oilseeds & pulses and the growing demand for plant-based foods.
Seed Treatment Segment to Account for the Largest Share in 2023
Based on mode of application, the biofertilizers market is segmented into seed treatment, foliar spray, fertigation, and other modes of application. In 2023, the seed treatment segment is expected to account for the largest share of the biofertilizers market. The large market share of this segment is attributed to the solubilizing phosphorous in the soil and improving its availability, and increasing the use of biofertilizers in seed treatment of cereals such as rice, wheat, sorghum, and maize and oilseeds such as groundnut, sunflower, and soybean are driving the biofertilizers market.
The Liquid Biofertilizers Segment to Register the Highest CAGR During the Forecast Period
Based on form, the Latin America biofertilizers market is segmented into (dry and liquid biofertilizers). The liquid biofertilizers segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is driven by ease of use, cost-effectiveness, high efficiency & absorbability, and uniform application.
Brazil to Dominate the Biofertilizers Market in 2023
The Latin America biofertilizers market is segmented into five major countries— Brazil, Mexico, Argentina, Chile, and the Rest of Latin America (RoLATAM). In 2023, Brazil is expected to account for the largest share of the Latin America biofertilizers market. The large market share of this segment is attributed to the growing economy, a rising population, a large agricultural area, modernization of farming, limited availability of arable land, large fertilizer consumption, and growing land coverage under organic cultivation.
However, Mexico is slated to register the highest CAGR during the forecast period. The growth of this regional market is attributed to the rising consumer preference for organic products, increasing organic farm sizes, and changing climatic conditions.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments of leading market players. Some of the key players operating in the Latin America biofertilizers market are American Vanguard Corporation (U.S.), Chr. Hansen Holding A/S (Denmark), IPL Biologicals Limited (India), Koppert B.V. (Netherlands), Lallemand Inc. (U.S.), Novozymes A/S (Denmark), Rizobacter Argentina SA (Argentina), Symborg Corporate, SL (Spain), UPL Limited (India), Vegalab SA (Switzerland), Corteva, Inc. (U.S.), Grupo Vittia (Brazil).
Scope of the Report:
Latin America Biofertilizers Market Assessment, by Microorganism Type
Latin America Biofertilizers Market Assessment, by Crop Type
Latin America Biofertilizers Market Assessment, by Mode of Application
Latin America Biofertilizers Market Assessment, by Form
Latin America Biofertilizers Market Assessment, by Geography
Key Questions Answered in the Report-
The Latin America biofertilizers market is projected to reach $408.6 million by 2030, at a CAGR of 12% from 2023 to 2030.
The nitrogen-fixing microbe segment is slated to register the highest growth rate during the forecast period, providing significant opportunities for the players in this market.
The oilseeds & pulses segment is slated to register the highest growth rate during the forecast period and provide significant growth opportunities for the players operating in this market.
The major players operating in the Latin America biofertilizers market are American Vanguard Corporation (U.S.), Chr. Hansen Holding A/S (Denmark), IPL Biologicals Limited (India), Koppert B.V. (Netherlands), Lallemand Inc. (U.S.), Novozymes A/S (Denmark), Rizobacter Argentina SA (Argentina), Symborg Corporate, SL (Spain), UPL Limited (India), Vegalab SA (Switzerland), Corteva, Inc. (U.S.), and Grupo Vittia (Brazil).
Mexico is slated to register the highest CAGR during the forecast period. The rapid growth of this regional market is driven by the rising consumer preference for organic products, increasing organic farm sizes, and changing climatic conditions.
This report provides pre & post COVID-19 market estimates.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations of the Study
3. Executive Summary
3.1. Overview
3.2. Segmental Analysis
3.2.1. Biofertilizers Market, by Microorganism Type
3.2.2. Biofertilizers Market, by Crop Type
3.2.3. Biofertilizers Market, by Mode of Application
3.2.4. Biofertilizers Market, by Formulation
3.2.5. Biofertilizers Market Analysis, by Country/Region
3.3. Competitive Landscape & Market Competitors
4. Market Insights
4.1. Overview
4.2. Drivers
4.2.1. Increase in Adoption of Biofertilizers for Organic Farming
4.2.2. Growing Concerns Regarding Environmental Safety
4.2.3. Increasing and Favorable Government Policies and Support Initiatives to Promote the Use of Biofertilizers
4.3. Restraints
4.3.1. High Cost of Biofertilizers
4.4. Opportunities
4.5. Challenges
4.6. Supply Chain Analysis
5. Latin America Biofertilizers Market Assessment—by Microorganism Type
5.1. Overview
5.2. Nitrogen-fixing Microbes
5.2.1. Rhizobia Bacteria
5.2.2. Azospirillum
5.2.3. Other Nitrogen-fixing Microbes
5.3. Phosphate Solubilizing & Mobilizing Microbes
5.3.1. Pseudomonas
5.3.2. Bacillus
5.3.3. Other Phosphate Solubilizing & Mobilizing Microbes
5.4. Potassium Solubilizing & Mobilizing Microbes
5.5. Other Microorganism Types
6. Latin America Biofertilizers Market Assessment—by Crop Type
6.1. Overview
6.2. Cereals & Grains
6.2.1. Maize/Corn
6.2.2. Wheat
6.2.3. Rice
6.2.4. Other Cereals & Grains
6.3. Oilseeds & Pulses
6.4. Fruits & Vegetables
6.5. Other Crop Types
7. Latin America Biofertilizers Market Assessment—by Mode of Application
7.1. Overview
7.2. Seed Treatment
7.3. Foliar Spray
7.4. Fertigation
7.5. Other Modes of Application
8. Latin America Biofertilizers Market Assessment—by Form
8.1. Overview
8.2. Dry Biofertilizers
8.3. Liquid Biofertilizers
9. Latin America Biofertilizers Market Assessment—by Geography
9.1. Overview
9.2. Latin America
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Argentina
9.2.4. Chile
9.2.5. Rest of Latin America (RoLATAM)
10. Competitive Landscape
10.1. Overview
10.2. Competitive Benchmarking
10.3. Competitive Dashboard
10.3.1. Industry Leaders
10.3.2. Market Differentiators
10.3.3. Vanguards
10.3.4. Emerging Companies
10.4. Vendor Market Positioning
11. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
11.1. American Vanguard Corporation
11.2. Chr. Hansen Holding A/S
11.3. IPL Biologicals Limited
11.4. Koppert B.V
11.5. Lallemand Inc.
11.6. Novozymes A/S
11.7. Rizobacter Argentina SA
11.8. Symborg Corporate, SL
11.9. UPL Limited.
11.10. Vegalab SA
11.11. Corteva, Inc.
11.12. Grupo Vittia
(Note: SWOT Analysis of the Top 5 Companies will be Provided.)
12. Appendix
12.1. Available Customization
12.2. Related Reports
List of Tables
Table 1 Latin America Biofertilizers Market: Impact Analysis of Market Drivers (2023–2030)
Table 2 Latin America Biofertilizers Market: Impact Analysis of Market Restraints (2023–2030)
Table 3 Latin America Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 4 Latin America Biofertilizers Market, by Microorganism Type, 2021–2030 (Tons)
Table 5 Latin America Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 6 Latin America Nitrogen-fixing Microbes Market, by Type, 2021–2030 (Tons)
Table 7 Latin America Nitrogen-fixing Microbes Market, by Country/Region, 2021–2030 (USD Million)
Table 8 Latin America Nitrogen-fixing Microbes Market, by Country/Region, 2021–2030 (Tons)
Table 9 Latin America Rhizobia Bacteria Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 10 Latin America Rhizobia Bacteria Biofertilizers Market, by Country/Region, 2021–2030 (Tons)
Table 11 Latin America Azospirillum Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 12 Latin America Azospirillum Biofertilizers Market, by Country/Region, 2021–2030 (Tons)
Table 13 Latin America Other Nitrogen-fixing Microbes Market, by Country/Region, 2021–2030 (USD Million)
Table 14 Latin America Other Nitrogen-fixing Microbes Market, by Country/Region, 2021–2030 (Tons)
Table 15 Latin America Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 16 Latin America Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (Tons)
Table 17 Latin America Phosphate Solubilizing & Mobilizing Microbes Market, by Country/Region, 2021–2030 (USD Million)
Table 18 Latin America Phosphate Solubilizing & Mobilizing Microbes Market, by Country/Region, 2021–2030 (Tons)
Table 19 Latin America Pseudomonas Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 20 Latin America Pseudomonas Biofertilizers Market, by Country/Region, 2021–2030 (Tons)
Table 21 Latin America Bacillus Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 22 Latin America Bacillus Biofertilizers Market, by Country/Region, 2021–2030 (Tons)
Table 23 Latin America Other Phosphate Solubilizing & Mobilizing Microbes Market, by Country/Region, 2021–2030 (USD Million)
Table 24 Latin America Other Phosphate Solubilizing & Mobilizing Microbes Market, by Country/Region, 2021–2030 (Tons)
Table 25 Latin America Potassium Solubilizing & Mobilizing Microbes Market, by Country/Region, 2021–2030 (USD Million)
Table 26 Latin America Potassium Solubilizing & Mobilizing Microbes Market, by Country/Region, 2021–2030 (Tons)
Table 27 Latin America Other Microorganism Types Market, by Country/Region, 2021–2030 (USD Million)
Table 28 Latin America Other Microorganism Types Market, by Country/Region, 2021–2030 (Tons)
Table 29 Latin America Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 30 Latin America Biofertilizers Market for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 31 Latin America Biofertilizers Market for Cereals & Grains, by Country/Region, 2021–2030 (USD Million)
Table 32 Latin America Biofertilizers Market for Maize/Corn, by Country/Region, 2021–2030 (USD Million)
Table 33 Latin America Biofertilizers Market for Wheat, by Country/Region, 2021–2030 (USD Million)
Table 34 Latin America Biofertilizers Market for Rice, by Country/Region, 2021–2030 (USD Million)
Table 35 Latin America Biofertilizers Market for Other Cereals & Grains, by Country/Region, 2021–2030 (USD Million)
Table 36 Latin America Biofertilizers Market for Oilseeds & Pulses, by Country/Region, 2021–2030 (USD Million)
Table 37 Latin America Biofertilizers Market for Fruits & Vegetables, by Country/Region, 2021–2030 (USD Million)
Table 38 Latin America Biofertilizers Market for Other Crop Types, by Country/Region, 2021–2030 (USD Million)
Table 39 Latin America Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 40 Latin America Biofertilizers Market for Seed Treatment, by Country/Region, 2021–2030 (USD Million)
Table 41 Latin America Biofertilizers Market for Foliar Spray, by Country/Region, 2021–2030 (USD Million)
Table 42 Latin America Biofertilizers Market for Fertigation, by Country/Region, 2021–2030 (USD Million)
Table 43 Latin America Biofertilizers Market for Other Modes of Application, by Country/Region, 2021–2030 (USD Million)
Table 44 Latin America Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 45 Latin America Dry Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 46 Latin America Liquid Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 47 Latin America Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 48 Latin America: Biofertilizers Market, by Country/Region, 2021–2030 (USD Million)
Table 49 Latin America: Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 50 Latin America: Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 51 Latin America: Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 52 Latin America: Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 53 Latin America: Biofertilizers Market Size for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 54 Latin America: Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 55 Latin America: Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 56 Brazil: Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 57 Brazil: Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 58 Brazil: Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 59 Brazil: Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 60 Brazil: Biofertilizers Market Size for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 61 Brazil: Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 62 Brazil: Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 63 Mexico: Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 64 Mexico: Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 65 Mexico: Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 66 Mexico: Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 67 Mexico: Biofertilizers Market Size for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 68 Mexico: Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 69 Mexico: Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 70 Argentina: Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 71 Argentina: Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 72 Argentina: Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 73 Argentina: Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 74 Argentina: Biofertilizers Market Size for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 75 Argentina: Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 76 Argentina: Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 77 Chile: Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 78 Chile: Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 79 Chile: Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 80 Chile: Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 81 Chile: Biofertilizers Market Size for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 82 Chile: Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 83 Chile: Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 84 RoLATAM: Biofertilizers Market, by Microorganism Type, 2021–2030 (USD Million)
Table 85 RoLATAM: Nitrogen-fixing Microbes Market, by Type, 2021–2030 (USD Million)
Table 86 RoLATAM: Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2021–2030 (USD Million)
Table 87 RoLATAM: Biofertilizers Market, by Crop Type, 2021–2030 (USD Million)
Table 88 RoLATAM: Biofertilizers Market Size for Cereals & Grains, by Type, 2021–2030 (USD Million)
Table 89 RoLATAM: Biofertilizers Market, by Mode of Application, 2021–2030 (USD Million)
Table 90 RoLATAM: Biofertilizers Market, by Formulation, 2021–2030 (USD Million)
Table 91 Number of Developments by Major Players During 2020–2023
List of Figures
Figure 1 Market Ecosystem
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply-side & Demand-Side)
Figure 7 Market Size Estimation and Growth Forecast Approach
Figure 8 Nitrogen-fixing Microbes Segment to Register the Highest Growth During 2023–2030
Figure 9 Cereals & Grains Segment to Dominate the Biofertilizers Market in 2023
Figure 10 Seed Treatment Segment Account for the Largest Share in 2023
Figure 11 Dry Biofertilizers Segment to Dominate the Biofertilizers Market
Figure 12 Brazil to Dominate the Biofertilizers Market
Figure 13 Factors Affecting Market Growth
Figure 14 Latin America Biofertilizers Market, by Microorganism Type, 2023 Vs. 2030 (USD Million)
Figure 15 Latin America Nitrogen-fixing Microbes Market, by Type, 2023 Vs. 2030 (USD Million)
Figure 16 Latin America Phosphate Solubilizing & Mobilizing Microbes Market, by Type, 2023 Vs. 2030 (USD Million)
Figure 17 Latin America Biofertilizers Market, by Crop Type, 2023 Vs. 2030 (USD Million)
Figure 18 Latin America Biofertilizers Market, by Mode of Application, 2023 Vs. 2030 (USD Million)
Figure 19 Latin America Biofertilizers Market, by Formulation, 2023 Vs. 2030 (USD Million)
Figure 20 Latin America Biofertilizers Market, by Country, 2023 Vs. 2030(USD Million)
Figure 21 Latin America: Biofertilizers Market Snapshot (2023)
Figure 22 Key Growth Strategies Adopted by Leading Players, 2020–2023
Figure 23 Biofertilizer Market: Competitive Dashboard, by Key Players
Figure 24 Biofertilizer Market: Competitive Benchmarking, by Application
Figure 25 American Vanguard Corporation: Financial Overview (2022)
Figure 26 Chr. Hansen Holding A/S: Financial Overview (2022)
Figure 27 Novozymes A/S: Financial Overview (2022)
Figure 28 UPL Limited: Financial Overview (2022)
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: Sep-2022
Published Date: Aug-2022
Published Date: Jan-2023
