Latin America is currently the region with the fastest-growing biostimulant market. The scale of the microbe-free biostimulant industry in this region will double within five years. In 2024 alone, its market reached 1.2 billion US dollars, and by 2030, its value could reach 2.34 billion US dollars.
Furthermore, Latin America is the only region where the market share of biostimulants in field crops is higher than that in the fruit and vegetable market.
In Peru and Mexico, although the development of the biostimulant market has become increasingly prominent due to exports, Brazil still holds a leading position in the region. Brazil currently accounts for 50% of the total sales in this industry and will continue to be the fastest-growing country in Latin America. This growth stems from multiple reasons: Brazil is a highly powerful exporter of agricultural products; Thanks to the new national regulations on biological inputs, the use of biostimulants in field crops is growing rapidly. The emergence of local biostimulant manufacturing enterprises has led to its continuous growth.
Peru is expected to grow rapidly, and the region has become one of the main centers of agricultural growth in recent years. Argentina and Uruguay follow closely behind. These two countries will witness significant growth, but the market size of biostimulants remains limited. These countries have huge growth potential, although their adoption rates are not as high as those of Chile, Peru and Brazil.
The Argentine market has always attached great importance to inoculants for field crops and legumes, but the adoption rate of biostimulants without microorganisms has remained relatively low.
In Paraguay and Bolivia, although the market size is still relatively small, the usage and adoption of the product in soybean crops in these two countries deserve attention, which is related to technological products, planting systems, and land ownership.
Although the market sizes of Colombia and Ecuador are not large enough to be separately segmented in the 2020 report, they have rich knowledge of certain crops and a history of using these products. Neither of these two countries has made it to the list of the world’s major markets, but in the latest data for 2024/25, Colombia and Ecuador have ranked among the 35 major markets globally. In addition, Ecuador was one of the earliest countries to use biostimulants in tropical crops such as bananas and is also one of the markets where this technology is most widely applied.
On the other hand, as countries like Brazil are developing their entire production ecosystem, these companies have been conducting local or national sales in their home countries (such as Brazil and other countries). In the future, they will start exporting and exploring the Latin American market. Competition will thus become more intense and price pressure will also be greater. Therefore, they must consider how to better influence the development of the biostimulant market in Latin America. Even so, market forecasts remain optimistic.
Post time: Sep-22-2025