The market is one of the fastest-growing markets, globally. The market value for plant biostimulants in the region is estimated at USD 206.34 million in 2016 and projected to reach USD XX million by 2022, registering a double-digit CAGR during the forecast period. Brazil leads the market in the region, with the largest demand and the fastest growth for plant biostimulants products and procedures, estimated at XX % in 2015, with a likelihood of posting a CAGR of 12.7% between 2017 and 2022. The increasing demand and popularity of organic products, the environmental concerns over agrochemicals usage and the rising need to increase agriculture production to meet the requirements of the ever-growing population, are among the key factors driving the biostimulants market in this region.
Important strategies, such as product expansions and investments, have been implemented by key players in the biostimulants industry. These companies are improving their capabilities by diversifying their commercial operations across the high-growth markets, with efficient distribution systems. The major companies dominating the biostimulants market in the region are BASF SE, Biostadt India Limited, Valagro SpA, Novozymes A/S, Biolchim SpA, Isagro SpA, and Koppert B.V.
The growth of the South America biostimulants market is majorly due to factors, such as the rising population, easy regulatory structure, and eco-friendly nature of biostimulants. Another key factor driving the market is the climate change. Regular deviation in climate, due to global warming, has resulted in instability in the yield of several food and cash crops. This has led to a growing predilection towards the utilization of biostimulants, by farmers. However, issues, such as lack of awareness among the farmers and high R&D costs involved, are hindering the growth of the market in this region.
The South America biostimulants market is segmented based on active ingredients, application, and crop type. The market for biostimulants, based on active ingredients, is classified into fulvic acid, amino acid and protein hydrolysates, seaweed extracts, humic acid, and others. In this segment, humic acids and fulvic acids lead the market for biostimulants, accounting for more than 45% of the market. By application, the biostimulants market is segmented into seed, foliar, and soil. The foliar technique of application is the most favored for biostimulant supply, as it delivers ingredients in a direct manner, when compared to the others. Based on the crop type, the biostimulants market is segmented into fruits & vegetables, cereals & oilseeds, turfs & ornaments, and others. The cereals & oilseeds segment leads the market, by crop type, which is expected to remain the same over the forecast period.
By crop type, the industry is segmented into cereals, oilseeds, fruits & vegetables, turf & ornaments and others. In South America, the plant biostimulants are majorly used for cereals, fruits and vegetables. These segments consume more than 50% of the biostimulants. The South American region includes countries, such as Brazil, Argentina and others. The biostimulants market in South America is expected to be driven by agriculture-based economies, such as Brazil and Argentina, owing to the growing predilections towards bio-based agricultural stimulants in these countries. Elevated production of sugarcane and corn is another key factor propelling the growth of the market in the region.
Major Companies in the Sector Include:
- Tradeecorp Internationals
- Valagro SPA
- Micromix Plant Health Ltd.
Recent Industry Insights
- In March 2015, Valagro has launched 10 innovative R&D projects of biostimulants in the United States, Canada, Mexico, Brazil, Spain and New Zealand.
Key Deliverables in the Study
- Market analysis for the South 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 South 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
Related Reports Hyperlinks:
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 Rapidly Growing Population in the Region
4.1.2 Easy Regulatory Structure
4.1.3 Eco-Friendly Nature of Biostimulants
4.2.1 Less Awareness among Farmers about Application and Benefits
4.2.2 High R&D Costs
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
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