Latin America Biostimulants Market Report Description:
Latin America Biostimulants market report gives comprehensive outlook on Biostimulants market across the region with special emphasis on key countries such as Brazil, Mexico, Argentina, Chile, Ecuador, and Rest of Latin America. The report on Latin America market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, crop type, application, and country. This report studies Latin America market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Latin America market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America market report include suppliers, manufacturers, marketers, policy makers, and agronomists engaged in Latin America Biostimulants market activities.
Latin America Biostimulants Market:
The Latin America market estimated to be valued US$ 300.1 Mn in 2018 and witnessed to grow at significant CAGR over 2018 to 2023. Market for Latin America Biostimulants projected to reach US$ 562.3 Mn by 2023. Surge in awareness among the farmers regarding the advantages of Biostimulants, strategic mergers & acquisitions among the market players, launch of new products in Latin America is few driving factors of Latin America Biostimulants market.
Robust Investments in R&D in order to Develop New Biostimulants
Increased R&D investments to develop innovative biostimulants is witnessed to increase the Latin America Biostimulants market. The R&D expenditure has been doubled from the last decade and is expected to increase in the future years due to agrochemical companies are focused on biostimulants to gain the greater market share. Moreover, Launch of newer products with affordable prices witnessed to create demand for Biostimulants over the forecast time frame.
Seaweed Extract Is Expected to gain Traction over the Forecast Period
Seaweed extract segment accounted for 36.0% revenue share in 2017, projected to grow around 13.0% CAGR over the forecast period, and expected to account for 36.4% revenue share by 2024. Increased adoption of seaweed extract is anticipated to increased offer healthy growth opportunities over the forecast period
Brazil Accounts for Larger Market Revenue Share in Latin America Market
Brazil accounted for larger revenue share in Latin America Biostimulants market and expected to expand at 13.4% CAGR over the forecast period due to adoption of Biostimulants in the country. Chile biostimulants market accounted for 3.9% of revenue share in 2017, increased inclination towards ecofriendly products are expected to drive market. Ecuador Biostimulants Market projected to expand at 11.2% CAGR over the forecast period owing to increase awareness about the advantages of biostimulants are anticipated to offer lucrative growth opportunities over forecast years.
- Novozymes A/S
- BASF SE
- Isagro SpA
- Valagro SpA
- Platform Specialty Products Company
- Italpollina SpA
- Sapec Group
- Koppert B.V.
- Biolchim SpA
- Nufarm Limited
Latin America Biostimulants market is consolidated with many players. The companies are focused on strategic mergers & acquisitions to gain the major market share in Latin America Biostimulants market. For instance, in 2017, In November 2016, Arysta life sciences has signed alliance agreement with Beem Biologics, in which Arysta life sciences will license a novel, plant extract derived technology from Beem Biologics to position as a global leader in the biostimulant market.
Key Findings of the Report:
Latin America market is projected to expand at significant CAGR over 2018 to 2023 to reach market value of US$ 562.3 Mn by 2023 owing to increase adoption of Biostimulants across the Latin American Countries.
- Based on product type Seaweed extract segment accounted for larger market revenue share in 2018 and projected dominate the market revenue share over the forecast period
- Foliar spray segment is projected as to dominate the market share in 2018, and expected to expand at significant CAGR over the forecast period.
By Product Type
- Amino Acid
- Humic Acid
- Fulvic Acid
- Seaweed Extracts
By Crop Type
- Turf & Ornamentals
- Row Crops & Cereals
- Fruits & Vegetables
- Seed Treatment
- Foliar Spray
- Soil Treatment
- Rest of Latin America
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2012-2016) and forecast (2017-2023)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market