Market Size of South America Biofertilizers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Biofertilizer Market Analysis
The South America Biofertilizers Market is estimated to grow at a CAGR of 10.0%, during the forecast period, 2020-2025. Argentina is the largest and fastest-growing market, followed by Brazil. Favorable government policies, easy registration process, and the increasing organic farms are the main factors driving the market. Considering the type of biofertilizers, the Rhizobium biofertilizer segment led the market in 2019 in South America. Despite the extensive legislations' normative in the major South American countries, there is a lack of a specific and definite set of regulations for the use of biofertilizers and organic fertilizers in some other countries of the region, such as Peru, Colombia, Bolivia, and Venezuela, among others. Thus, their growth in the biofertilizer market is likely to be slow, as compared to some of the major countries, like Brazil and Argentina.
