South America Biological Organic Fertilizers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

South America Biological Organic Fertilizers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The South America Biological Organic Fertilizers Market size is estimated at USD 421.46 billion in 2024, and is expected to reach USD 625.02 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029).

Increased practice of organic farming, the need for improving soil organic matter, and favorable regulatory structures are the factors driving the market studied. Low product efficacy under unfavorable conditions, high demand for synthetic fertilizers, and low shelf life of microorganisms are expected to restrain the market growth. The increased practice of organic farming is one of the major factors behind the growth of the biological organic fertilizer market. The emphasis on sustainable farming and government support to manufacturers are factors that are augmenting the growth of the market.

South America Biological Organic Fertilizers Market Trends

Increased Practice of Organic Farming

The increased concern for the environment has paved the way for the use of bio-based organic fertilizers. The increasing cost of chemical fertilizers and the push from governments for sustainable farming are enabling farmers to adopt organic farming practices. Biofertilizers are used to improve the quality of soil, as they can help in improving the quality of the soil without depriving it of the essential nutrients.

Using biofertilizers also helps in scaling up the nutrient intake of plants, which is essential in the current scenario. Biofertilizers, such as Rhizobium, Azospirillum, and Phosphobacteria, deliver nitrogen and phosphorous nutrients to crop plants through the nitrogen fixation and phosphorous solubilization processes. These biofertilizers are utilized for rice, pulses, millets, cotton, sugarcane, and other horticulture crops. Since biofertilizers are capable of boosting the soil organic matter, they considered to be few of the most important components of soil management, in the current paradigm.

Argentina Dominates the Biological Organic Fertilizer Market

Argentina accounted for 48.6% of the South American biological organic fertilizer market in 2018. The total organic agricultural land, which was treated with the biological organic fertilizers in Argentina, was around 3.39 million hectares in 2017. Argentina has strict controls and legislation regulations for allowing the commercialization of biofertilizers based on Rhizobia. In the country, biological fertilizers are registered under the National Health and Agroalimentary Quality Service (SENASA), which, along with other sectors of the government, determines the adoption, restriction, and marketing of biofertilizers in the country.

As an export-oriented market, the applications of biological organic fertilizer products increased with the adoption of sustainable farming practices and organic ingredients. The cost-efficient product offerings further augmented the market expansion in the country. More than 70% of the country's biological organic fertilizer products are exported by the country. The major crops that are treated with these products are pears, apples, oranges, mandarins, grapefruits, lemons, grapes, onions, garlic, asparagus, lettuce, beets, carrots, and cucumbers.

South America Biological Organic Fertilizers Industry Overview

The biological organic fertilizer market is fragmented, owing to the presence of large international and local markets. Collaborations with government organizations, expansions in the market, and product innovations are some of the strategies adopted by the companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support