Biostimulants are among some of the earliest agricultural inputs being used to improve crop performance and quality. Biostimulants complements conventional agriculture, providing crop nutrition and crop protection. Agricultural biostimulants include different formulation and use of various substance that are applied to plants, seed or soil in order enhance the physiological processes of crops along with improving crop productivity.
A plant biostimulant is biological substance or extracts used as plant supplements with the aim to enhance nutrition efficiency, abiotic stress tolerance and others, regardless of its nutrients content. Furthermore, plant biostimulants also designate commercial products containing mixtures of such substances and microorganisms.
The intensive use of fertilizers and agrochemicals in modern agriculture adversely affect the soil quality, gradually resulting in degradation of its physicochemical properties. Biostimulants restores and repair degraded agricultural soils and re-establish a productive soil ecosystem and rebuild a healthy and fertile soil. Rising consumer indulgence and consumer willingness to pay for natural and healthy products will fuel the demand of biostimulants. Hence globally, biostimulants market is growing at the rate of 10% during 2018 to 2023.
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The growing demand for organically produced foods is growing rapidly which is influencing higher demand and use of biostimulants. The increasing level of investment in research to identify organic molecules and right formulation to improve the plant metabolism and enhance plant performance in a short period of time and in a cheaper way. Biostimulants find its application in diverse spectrum which include agriculture and horticulture.
Major Key Players:
This report includes a study of strategies used in the market, mergers and acquisitions in native starches, multiple product launch by Biostimulants market players. It further includes product portfolios and developments of leading major players which includes
The leading market players in the Latin America Biostimulants market primarily are Isagro S.P.A (Italy), BASF SE (Germany), Sapec Group (Trade Corporation International) (Spain), Arysta Life Science Limited (Japan), Valagro S.P.A (Italy), Koppert B.V (The Netherlands), Italpollina (Italy)
The Latin America biostimulants market is highly competitive due to the presence of some well-established regional and global players. The competitive environment of this market is projected to intensify with an increase in product portfolio increasing number of current key players. The Latin America biostimulants market is segmented on the basis of by type, crop type, active ingredients, application and country.
The quality of soil will be crucial factor crop health and crop productivity. Use of biostimulants impart additional nutrients or growth factors that are crucial in altering soil and plant metabolic activities to improve crop growth and yield. Biostimulants are used to restore degraded soils by regulating soil pH and help in soil management. Use of chemical inputs for soil management is unfavorable to soil-based microbes/fungi and has detrimental effect on them.
These factors will support the growth of biostimulants market in Latin America during the forecast period 2017-2023.
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The Latin America Biostimulants market includes countries such as Brazil, Argentina, Mexico and rest of Latin America. Among these Brazil dominates the market and will continue to dominate the market during the forecast period 2017-2023. Mexico is estimated to grow at a highest CAGR during the forecast period, rising demand for organic food ingredients and clean label food & beverages in recent years has been observed.
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