Market Overview:
In Latin America, the market for biostimulants has been witnessing increasing demand from agricultural industry for soil and seed treatment. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Latin America Biostimulants Market Research Report- Forecast to 2023’ that the market will demonstrate an exceptional CAGR during the forecast period.
The growing demand for organically produced foods is growing rapidly which is influencing higher demand and use of biostimulants. Key players are investing in research and development activities 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.
With the growing consumer awareness & their increasing interest in natural and organic food products, the demand for biostimulants will drive the market growth from 2018 to 2023. Also, manufacturers are trying to improve existing products and procedures to develop new products which will boost the sales of biostimulants. Biostimulants restore and repair degraded agricultural soil and re-establish a productive soil ecosystem and rebuild a healthy and fertile soil. Biostimulants also maintain the salinity and sustainability of soil for long-term use making it safe for soils and crops
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Latest Industry Updates:
Jan 2018 Evogene Ltd., a leading biotechnology company developing novel products for life science markets through the use of a proprietary computational predictive biology platform, recently announced highly promising second-year field trial results for its bio-stimulant microbial seed treatments for the improvement of corn yield, which are under exclusive license to DuPont Pioneer.
Jan 2018 Pontifax AgTech Leads $9.5 Million Round in Biostimulant Producer Inocucor Corp.
Aug 2017 BASF and ACE launched an initiative to support agriculture start-ups in Latin America. For a period of six months, BASF and ACE proactively supported three start-ups to bring their solution to market. The goal was to bring new technologies to the agricultural sector through co-creation.
April 2017 Koppert B.V. signed the HortiTechIndia covenant to upgrade the Indian Horticulture sector
Latin America Biostimulants Market – Competitive Analysis
The competitive environment in this market is estimated to increase, with an increase in product portfolio from current key players. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.
The key players profiled in the Latin America biostimulants market 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), and Italpollina (Italy) among many others.
Market Segments:
The Latin America biostimulants market has been divided into type, crop type, application, active ingredients, acid based ingredients, extract based ingredients and region.
On The Basis Of Type: Natural, and Synthetic
On The Basis Of Crop Type: Fruits & Vegetables, Row Crops, Turfs & Ornamentals, and Others
On The Basis Of Application: Seed Treatment, Foliar Treatment, and Soil Treatment
On The Basis Of Active Ingredients: Acid Based (Humic acid, Fulvic acid, And Others), Extracts (Microbial, Plant, and Seaweed), And Others
On The Basis Of Country: Argentina, Brazil, Mexico, and Rest of Latin America
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Regional Analysis:
Latin America has significant resources of unexploited agricultural land (concentrated in Brazil and Argentina) and it will continue to play a vital role in 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 to soybean. 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.
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