FORT WORTH, Texas, April 21, 2015 /PRNewswire/ --
The North America Biostimulants market is estimated to grow from $313.0 million in 2014 to $605.1 million by 2019, at a CAGR of 14.1% during the period under consideration.
Browse through the TOC of North America biostimulants market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Plant biostimulants contain substance(s) and/or micro-organisms whose function when applied to plants or the rhizosphere is to stimulate natural processes to enhance/benefit nutrient uptake, nutrient efficiency, tolerance to abiotic stress, and crop quality. Biostimulants have no direct action against pests, and therefore do not fall within the regulatory framework of pesticides. Biostimulants have evolved into a major agricultural input for sustainable crop production. These products were mostly used for the cultivation of horticultural products; however, its usage has become essential for all key row crops such as rice, wheat, corn, sugarcane, and soybean. The definition of biostimulants is expected to constantly change with regard to its organic nature and the type of active ingredients.
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The North American biostimulants market is dominated by the U.S., followed by Canada. The requirement for crops of high yield and quality, and evolving agricultural practices and precision farming are driving the consumption of biostimulants in the U.S. market. The increase in the cost of synthetic fungicides and pesticides, and the awareness regarding balanced nutrition of plants are expected to have a positive impact on the U.S. biostimulants market. The U.S. is slowly adopting biostimulants as seed treatments to strengthen the crop's vigor at an early stage of development.
The North American market is dominated by certain key players such as Taminco Corporation (Brazil), Isagro S.p.A (Italy), Valagro S.p.A (Italy), and Biostadt India Ltd. (India), among others. These companies have adopted the strategies of partnerships and collaborations to strengthen and sustain their top positions in the North American biostimulants market.
The Europe Bio Stimulants Market was valued at $0.53 billion in 2013, and is expected to grow at a CAGR of 12.2% annually, to reach $0.94 billion by 2018. The market constitutes 41.7% of the global bio stimulants market. the major segments of this market include bio insecticides, bio fungicides, and bio herbicides, among others, comprising 53.3%, 38.2% and 8.5% respectively, of the European market. Agricultural land is one of the most important macroindicator for this market.
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