The market is the second largest plant biostimulants market, globally. The biostimulants industry in the region is estimated to grow from USD 425.47 million in 2016 to USD 766.01 million by 2022, at a CAGR of 12.5% during the period, 2016-2022. The usage of biostimulants is promoted in the region, which is mostly opted by chemical fertilizer and pesticides required to sustain its large-scale productions. to balance the agricultural sector growth.
Taminco Corp. (Belgium) holds the largest share of the North American biostimulants market, as of 2014. Other firms, such as Italopolina S.p.A (Italy), Koppert BV (The Netherlands), and Isagro S.p.A (Italy) are competing for a significant share of the biostimulants market in North America. These companies are adopting market strategies, such as mergers & acquisitions, joint ventures, new product developments, and expansions, to increase their market share in the North American biostimulants market.
The North America biostimulants market is driven by factors, such as growing importance of food security across the region, need for enhanced yield, population growth and increasing environment-conscious consumer base in developed and developing countries.
The market is restrained by certain factors, such as less awareness among farmers about the application and benefits and less innovation in product development. However, there is a bright scope in research and development in the region as major companies are shifting their focus and investing in product development. Additionally, government support and subsidies are complimenting the growth of plant biostimulants in North America.
The North America plant biostimulants market is segmented by active ingredients, type, application, crop type and country. Segmentation, by active ingredients, includes humic acid, fulvic acid, amino acid and protein hydrolysates, seaweed extracts and others. Humic acid and fulvic acid, together, hold a major share of 45% in the North America plant biostimulant industry registering a CAGR of XX% and XX%, respectively. These two segments are followed by amino acid, which was calculated to be USD XX million in 2016, at a CAGR of XX%. By type, the market is segmented into natural biostimulants and biosynthetic biostimulants. Biosynthetic biostimulants are expected to witness a CAGR of XX% over the forecast period, to reach USD XX million by 2022, from USD XX million in 2016.
By application, the market is further segmented into foliar, soil and seed, of which, foilar is the largest segment with an estimated value of USD XX million, in 2016. The growth rate is calculated at XX% during the forecast period. The seed segment holds a small portion of the North America plant biostimulants market but is expected to grow at a double-digit figure. By crop type, the industry is segmented into cereals, oilseeds, fruits & vegetables, turf & ornaments and others. In North America, the plant biostimulants are mostly used for cereals, fruits and vegetables.These segments consume more than 50% of the biostimulants.
By country, the United States is the largest consumer of plant biostimulants in North America with a calculated market value of USD XX million in 2016, registering a CAGR of XX%, to reach USD XX million by 2022. Canada stands second, with a CAGR of XX%.
Major Companies in the Sector Include:
- Tradeecorp Internationals
- Valagro SPA
- Huma Gro
Recent Industry Insights
- In March 2015, Valagro launched 10 innovative R&D projects of biostimulants in the United States, Canada, Mexico, Brazil, Spain and New Zealand.
- In April 2015, US-based biostimulants company, BRANDT, signed a distribution license agreement on Manni-Plex and BRANDT Innside, in the Chinese market.
- In Aug 2015, Huma Gro launched the biostimulant product, BORO-MAX, with organic micro-carbon technology.
Key Deliverables in the Study
- Market analysis for the North America plant biostimulants market, with region-specific assessments and competition analysis.
- Market overview and identification and analysis of the macro and micro factors that affect the North America plant biostimulants market and also instrumental in changing the market scenario, on a regional scale.
- Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.
The report holds importance for the following stakeholders-
- Producers and manufacturers.
- Enterprises operating in the industry.
- Traders and stakeholders operating in the sector.
- Investors/research institutions interested in the market.
- Supply chain analysis
- Regulatory framework
- Trade analysis
- Trend analysis
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Phases
2.3.1 Secondary Research
2.3.2 Discussion Guide
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.3.5 Study Timeline
3. Market Overview
4. Market Dynamics
4.1.1 Increasing Importance of Organic Farming across the Region
4.1.2 Need for Enhanced Yield
4.1.3 Increasing Emphasis on Sustainable Farming
4.2.1 Less Awareness among Farmers about Application and Benefits
4.2.2 Less Innovation in Product Development
4.3.1 Scope of R&D
4.3.2 Government Support and Subsidies
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 By Active Ingredient
5.1.1 Humic Acid
5.1.2 Fulvic Acid
5.1.3 Amino Acid
5.1.4 Protein Hydrolysates
5.1.5 Seaweed Extracts
5.2 By Type
5.2.1 Natural Biostimulants
5.2.2 Biosynthetic Biostimulants
5.3 By Application
5.4 By Crop Type
5.4.3 Fruits & Vegetables
5.4.4 Turfs & Ornaments
5.5 By Geography
5.5.1 United States
6 Competitive Landscape
6.1 Strategies Adopted by Leading Players
6.2 Most Active Companies in the Past Five Years
6.3 Market Share Analysis
7. Company Profiles
7.1 BASF SE
7.2 Biostadt India Limited
7.3 Novozymes A/S
7.4 Biolchim SpA
7.5 Isagro SpA
7.6 Koppert B.V
7.7 Valagro SpA
7.8 Dow AgroSciences
7.11 Huma Gro