Micro-organisms and/or formulations that are applied to the soil or plants to enhance the quality, yield and tolerance of the plants towards abiotic stresses are referred to as biostimulants. Biostimulantsfacilitate healthy plant metabolism including growth and development. Increasing investments in agricultural R&D sector has resulted in increased production of biostimulants in Latin and Central America. Technological stride is also identified as one of the major reasons for the increasing market share of biostimulants in the region.
Latin America is identified to have a significant resource of unexploited agricultural land (concentrated in Brazil and Argentina), which will play a vital role in global food production and exports in the future. Escalating population and economic development in the region has resulted in strong emphasis on the agricultural sector in the countries of Latin and Central America. This has further resulted in the immediate new inventions in the agricultural sector in the region.
The Latin America & Central America Biostimulants market involves countries such as Brazil, Argentina, Mexico, and rest of Latin America. Brazil dominates the market and will continue to dominate during the forecast period 2017-2023. Mexico is estimated to have the highest CAGR during the forecast period. A 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, the market is segmented into fruits & vegetables, row crops, turfs & ornaments and others. On the basis of application, the market is segmented as seed treatment, foliar treatment, soil treatment. On the basis of active ingredients, the market is segmented as acid based, extracts, and others. On the basis of acid based ingredients, the market is segmented as humic acid, fulvic acid, amino acid. On the basis of extract based ingredients, the market is segmented as microbial, plant, and seaweed.
The leading market players in the Latin America& Central 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 (Netherlands), and Italpollina (Italy)
Raw material suppliers
Retailers & Wholesalers
Traders, importers and exporters
Natural Biostimulants segment is projected to dominate the market and will grow at a CAGR of 11.08%
Foliar treatment segment will dominate the market, with a CAGR of 10.44%.
Brazil will continue to dominate the Latin America biostimulant market followed by Argentina during forecast period.
Acid-based segment dominates the active ingredient market while humic acid dominated acid active ingredient market.
Fruits and vegetables crop type segment will have a higher CAGR of 11.14%.
Regional and Country Analysis of Biostimulants Market Development and Demand Forecast to 2023 Market
As per MRFR analysis, Latin America & Central America Biostimulants value market is poised to reach USD 491.24 million in 2023; growing at a CAGR of 13.40 % during the forecast period.
Table of Content: Key Points
1 Report Prologue
3 Research Methodology
4 Premium Insights
5 Market Dynamics
6 Mega Trends
7 Market Factor Analysis
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