Rhizobium segment to dominate the South America Biofertilizers Market during 2020–2028

According to a new market research study on “South America Biofertilizers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product type, Microorganism, Crop type, and Application” is expected to reach US$ 839.63 million by 2028 from US$ 333.95 million in 2021. The market is estimated to grow at a CAGR of 12.4% from 2021 to 2028. The report provides trends prevailing in the South America biofertilizers market along with the drivers and restraints pertaining to the market growth. Rise in the production of the yields and crops, elevating growth of organic farming, and expanding initiatives by government agencies and increase in awareness pertaining to the need for sustainability in modern agriculture are the major factor driving the growth of the South America biofertilizers market. However, shorter shelf life of biofertilizer hinders the growth of South America biofertilizers market.

Brazil reported the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador among others. The government of South America has taken an array of actions to protect its citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the biofertilizer market due to significant disruptions in terms of sourcing of raw materials from suppliers as well as temporary closures of the manufacturing base due to indefinite lockdowns and temporary quarantines. As there have been relaxations in the lockdown, raw material are being increasingly sourced and there has been a reduction in labor shortages, which is having a positive impact on the biofertilizer market.

The South America biofertilizers market is segmented on the basis of product type, microorganism, crop type, application, and country. Based on product type, the market is segmented into nitrogen fixing, phosphorus solubilizing, potassium mobilizing, and others. In 2020, nitrogen fixing segment held the largest share in the market, phosphorus solubilizing is expected to be the fastest growing segment during the forecast period. Based on microorganism, the market is segmented into rhizobium, azotobacter, phosphate solubilizing bacteria, and others. In 2020, rhizobium segment held the largest share in the market, and phosphate solubilizing bacteria is expected to be the fastest growing segment during the forecast period. Based on crop type, the market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, and others. In 2020, cereals and grains companies segment held the largest share in the market, and fruits and vegetables is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into seed treatment, soil treatment, and others. In 2020, seed treatment segment held the largest share in the market, and soil treatment is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.

Mapleton Agri Biotec Pt Ltd.; Mapleton Agri Biotec Pt Ltd.; Novozymes; RIZOBACTER; Symborg; T.Stanes and Company Limited; UPL; and Vegalab SA are among the leading companies in the South America biofertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Rizobacter begins to develop Azospirillum-based inoculants which is free-living bacteria that associate with plants, promoting plant development.

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