Latin America Biostimulants Market Information- With Respect To Type (Natural And Synthetic), Crop Type (Fruits & Vegetables, Row Crops, Turfs & Ornaments And Others), Application (Seed Treatment, Foliar Treatment, Soil Treatment), Active Ingredient (Acid Based, Extracts, And Others), Acid Based Ingredients (Humic Acid, Fulvic Acid, Amino Acid), Extract Based Ingredients (Microbial, Plant, Seaweed) And Country - Forecast Till 2023
Biostimulants can be any microorganism or substance applied to plants or soils to regulate and improve the crop’s physiological processes and bring in nutrient efficiency by enhancing crop vigour, quality and post-harvest shelf life/conservation. Biostimulants supplied to the user, differ in formulations with the intention to foster plant growth and development throughout the crop life cycle beginning from seed germination to plant maturity.
Latin America has significant resources of unexploited agricultural land (concentrated in Brazil and Argentina) and it will continue to play a vital role in global food production and exports in the future. The region has been involved in the production and export of diverse range of agricultural commodities ranging from coffee in Brazil. The need to improve agricultural yield will be a pivotal factor to meet domestic food demand and maintain export competitiveness at regional level. All these factors will influence the demand of biostimulants and will lead to surge in sales of biostimulants. Globally the market for biostimulants is estimated to grow at the rate of about 13.40% from 2017 to 2023.
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.
Biostimulants market by type has been segmented into natural and synthetic. On the basis of crop type, market is segmented into fruits & vegetables, row crops, turfs & ornaments and others. On basis of application, market is segmented into seed treatment, foliar treatment, soil treatment. On basis of active ingredients, market is segmented into acid based, extracts, and others. On basis of acid based ingredients, market is segmented into humic acid, fulvic acid, amino acid. On basis of extract based ingredients, market is segmented into microbial, plant, seaweed.
The leading market players in the Latin America Biostimulants market primarily are BASF SE (Germany), Sapec Group (Trade Corporation International) (Spain), Arysta Life Science Limited (Japan), Isagro S.P.A (Italy), Valagro S.P.A (Italy), Koppert B.V (The Netherlands), Italpollina (Italy)
- Biostimulants manufacturers
- Raw material suppliers
- End users
- Retailers & wholesalers
- E-commerce companies
- Traders, importers and exporters
- Natural Biostimulants is projected to dominate the market and will grow at a CAGR of 11.08%
- Foliar treatment will dominate the market and grow at a CAGR of 10.44%
- Brazil will continue to dominate the Latin America biostimulant market followed by Argentina during forecast period
- Acid based dominated the active ingredient market and humic acid dominated acid active ingredient market.
- Fruits and vegetables will grow at a higher CAGR of 11.14%
Regional and Country Analysis of Biostimulants Market Development and Demand Forecast to 2023 Market
As per the MRFR analysis, the Latin America Biostimulants value market is poised to reach USD 491.24 Million in 2023, to grow at a CAGR of 13.40 % during the forecast period.
The reports also cover country level analysis:
- Rest of Latin America