Rise in Demand for Organic Products to Favor Growth in South America
The global Biofertilizers Market is geographically divided into South America, Asia Pacific, North America, the Middle East and Africa, and Europe. Amongst these regions, Europe and North America are two of the largest markets for biofertilizers. They had cumulatively acquired approximately 55% global Biofertilizers Market share. In North America, the market in countries, namely, Mexico, the U.S., and Canada have been witnessing notable growth because of a rise in the number of organic farms along with abundant usage in non-organic farming. The United States Department of Agriculture (USDA) stated that the U.S. witnessed an annual growth of 13% during the year 2015 and 2016 in the organic certified businesses and farms.

South America, on the other hand, has begun emerging as the fastest-growing Biofertilizers Market. Fortune Business Insights predicts that the region is anticipated to provide immense growth opportunities to the key market players during the forecast period. Large scale commercial cultivation of soybean and corn crop in Brazil and Argentina along with extensive usage in fruits and vegetable crops are projected to support the usage of biofertilizers. The Research Institute of Organic Agriculture (FiBL) stated that Argentina was considered to be the second-largest country in 2017, in terms of the highest share in the global organic agricultural land after Australia. The country possessed approximately 3.4 million hectares of land.

https://www.fortunebusinessinsights.com/industry-reports/biofertilizers-market-100413