The South America Biostimulants Market is witnessing significant growth, driven by the increasing adoption of sustainable agricultural practices and the rising demand for organic food products. Biostimulants, derived from natural substances, enhance plant growth, nutrient uptake, and stress tolerance, improving crop quality and yield. The South America region's favorable climate and extensive agricultural activities provide immense opportunities for biostimulant manufacturers. The market's positive trajectory is expected to continue as farmers embrace environmentally friendly solutions for crop cultivation.
According to Data Bridge Market Research, Biostimulants Market is growing with the CAGR of 13.8% in the forecast period of 2022 to 2029 and is expected to reach 1,447.76 million by 2029.
“Increasing adoption of sustainable agricultural practices surge market demand"
The increasing adoption of sustainable agricultural practices in South America drives the demand for biostimulants. These agricultural practices focus on reducing chemical inputs, improving soil health, and minimizing environmental impact. Biostimulants offer a sustainable solution by promoting plant growth, nutrient absorption, and stress tolerance. They enhance crop productivity and resilience, allowing farmers to achieve higher yields while minimizing the use of synthetic fertilizers and pesticides. The desire for sustainable farming practices is fueling the growth of the biostimulants market in South America.
What restraints the growth of the biostimulants market?
“Limited awareness can impede the market growth”
Limited awareness among farmers in South America regarding the benefits and proper use of biostimulants act as a restraint in the market. Many farmers may not be familiar with the different types of biostimulants available and their specific applications. This lack of knowledge can lead to hesitation or reluctance in adopting biostimulants, preventing their widespread use in agricultural practices.
Segmentation: South America Biostimulants Market
The biostimulants market is segmented on the basis of active ingredients, crop type, application method, form, origin, end user, and distribution channel.
- On the basis of active ingredients, the South America biostimulants market is segmented into acid based, extract based, microbial amendments, protein hydrolysate, B-vitamins, chitin, chitosan, and others.
- On the basis of crop type, South America biostimulants market is segmented into fruits and vegetables, cereals and grains, turf and ornamentals, oilseeds and pulses, and other crops.
- On the basis of application method, South America biostimulants market is segmented into foliar treatment, soil treatment, and seed treatment.
- On the basis of form, South America biostimulants market is segmented into liquid and dry.
- On the basis of origin, South America biostimulants market is segmented into natural biostimulants and biosynthetic biostimulants.
- On the basis of end user, South America biostimulants market is segmented into farmers, agri and related industries, and research institutes.
- On the basis of distribution channel, South America biostimulants market is segmented into direct, and indirect.
Regional Insights: Brazil dominates the South America biostimulants market
Brazil holds a significant share in the South America biostimulants market, primarily due to the presence of a large number of local players in the region. These local players have a strong understanding of the local agricultural practices and market dynamics, allowing them to cater specifically to the needs of Brazilian farmers. The availability of locally produced biostimulants, coupled with the extensive distribution networks of these players, has contributed to Brazil's dominance in the biostimulants market in South America.f
Argentina is the second-largest market in the South America biostimulants market, driven by the increasing growth in farming technologies in the region. The adoption of advanced agricultural practices, including precision farming, vertical farming, and greenhouse cultivation, has created a demand for biostimulants to enhance crop productivity and improve the efficiency of farming operations. The government's initiatives to promote sustainable agriculture and the presence of a favorable regulatory environment have further propelled the growth of the biostimulants market in Argentina.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/south-america-biostimulants-market
Recent Developments in South America Biostimulants Market
- In 2020, IICA (the Inter-American Institute for Cooperation on Agriculture) and Syngenta have announced their partnership. As a result, the partnership was able to put into action measures designed to safeguard Latin America and the Caribbean's food security and boost farmers' productivity in a sustainable way. This gave the business the opportunity to work with IICA to implement scientific advancements in crop protection and seed improvement in rural areas of Latin America and the Caribbean.
- In 2020, The signing of a supply agreement for ISABION and HICURE biostimulants by SICIT Group S.p.A. and Syngenta signaled the beginning of a partnership to support sustainable agriculture. The agreement also placed a strong emphasis on the impending development of collagen-based biostimulants. This gave the business the opportunity to increase farmers' access to cutting-edge techniques for sustainable farming.
The Prominent Key Players Operating in the South America Biostimulants Market Include:
- UPL (India)
- Lallemand Inc. (Canada)
- Agrinos (Norway)
- Koppert Biological Systems (Netherlands)
- Syngenta (Switzerland)
- SICIT Group S.p.A (Italy)
- Isagro S.p.A. (Italy)
- ILSA S.p.A. (Italy)
- OMEX (U.K.)
- Trade Corporation International (U.S.)
- Bayer AG (Germany)
- Marrone Bio Innovations, Inc. (U.S.)
- SEIPASA, S.A. (Spain)
- Innovak Global, SA de CV (Mexico)
- Stoller Group (U.S.)
- Yara (Norway)
- BASF SE (Germany)
- Novozymes (Denmark)
- Atlantica Agricola (Brazil)
- Italpollina Spa (Italy)
- SummitAgro (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of biostimulants market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: South America Biostimulants Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
