Latin America Biostimulants Market Research Report includes various topics like total Market Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
As per the latest study conducted by Market Research Future (MRFR), the Latin America Biostimulants Market will capture an impressive CAGR of 13.40% during the forecast period (2017-2023). The market in LatAm is expected to surpass a valuation of USD 490 Mn by the year 2023. Biostimulants are typically any substance or micro-organism use for improving soil quality in irrigation. This is done to regulate and enhance the crop’s physiological progress. Moreover, they add to the nutrient efficiency by improving crop quality, vigour and post-harvest conservation/shelf life. A wide variety of biostimulants are available, they differ in formulation and to some extent application. However, the primary intention is to boost plant growth and nurture it throughout the irrigation cycle right from seed sprouting to plant maturity.
Latin America has massive areas of uncultivated and unexplored irrigable land (concentrated in Argentina and Brazil), which is instrumental to market’s progression in the region. As global food demand spirally upwards, these lands are coming into usage for irrigation. Moreover, the many of the LaAm countries are focusing on boosting their agricultural productivity to improve their export competitiveness and become more active in international trade. In recent years, countries such as Brazil, Peru, Mexico and Argentina have significantly increased their agricultural production to capture a position in the international market.
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However, the large portion of agriculture sector in region continues to witness a moderate product volume owing to use of traditional methods for irrigation. A huge untapped market, which is present in the region is prompting market players to increase their investment. The aforementioned factors are expected to play an important role in propelling the market forward in LatAm during the forecast period.
MRFR in its report has mentioned some of top-notch market players that are currently operating in the Latin America biostimulants market, which include), Sapec Group (Trade Corporation International) (Spain), Valagro S.P.A (Italy), BASF SE (Germany), Italpollina (Italy), Arysta Life Science Limited (Japan), Koppert B.V (The Netherlands) and Isagro S.P.A (Italy).
Countries such as Mexico, Brazil, and Argentina are among the key markets in the region. Brazil showcases a relative better investment climate to market players owing to its geographical and demographic attributes. In addition, Brazil hold the top position in the Latin America biostimulants market, and the trend is likely to continue throughout the assessment period. Argentina has emerged as the second largest market for biostimulanst in the region. Argentina is likely to retain its position over 2023. Meanwhile, the market in Mexico is projected to exhibit the fastest CAGR during the assessment period. This is primary owing to introduction of favorable policies for the agricultural sector in the country. At the same time, increased demand for food is also driving the sales biostimulants in Mexico.
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MRFR’s report include a thorough segmental analysis of the market based on type, application, crop type, and active ingredients. On the basis of type, the market has been segmented into synthetic and natural. The later will likely to outperform the former during the review period. The natural biostimulants segment is poised to witness a double-digit CAGR of 11.08%. Based on application, the market has been segmented into foliar treatment, seed treatment and soil treatment. The foliar treatment segment is expected to remain highly attractive during the forecast period and record a strong growth. By crop type, the market has been segmented into turfs & ornaments, fruits & vegetables, row crops and others. The fruits and vegetables segment is set to exhibit 11.14% CAGR till 2023. By active ingredients, the market is segmented into extracts, acid based and others.
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