Biostimulants Market, by value, is projected to grow at the CAGR over 13.40% by 2023
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/or microorganisms.
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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)
Latin America Biostimulants market is segmented by type, crop type, active ingredients, application and region
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 and will grow at a CAGR of 10.70%. Mexico is estimated to grow at a highest CAGR during the forecast period, due to rising demand for organic food ingredients and clean label food & beverages in recent years.
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. These factors will support the growth of biostimulants market during the forecast period.
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May 2017 Pune, India Market Research Future published a cooked research report on Latin America biostimulants market value which is estimated to grow at 13.40% by 2023.
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