South America Biostimulants Market Size,Industry Report 2031

Report Description

The South America Biostimulants Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 13.8% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing focus on agricultural intelligence.

Biostimulants are natural substances that are applied to seeds, plants, and soil. They enhance the plant growth with its bio-active compounds. These compounds have sound water holding capacity, high metabolism, provides nutrient, and improves the production of chlorophyll. It helps the plants to be more resilient to harsh environments.

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The COVID-19 outbreak led to the closedown of manufacturing facilities, which in turn, disrupted the production and sales of biostimulants. However, relaxation on restrictions is anticipated to help the market recover soon.

Market Trends, Drivers, Restraints, and Opportunities

• Growing demand for natural substances to ensure food safety and sustainable agricultural practices is expected to drive the market growth.

• Growing awareness about biostimulants among farmers uses is anticipated to spur the growth of the market.

• Larger areas of plant cultivation can accelerate the market growth. Moreover, reduced arable land has increased the demand for biostimulants to increase the crop yield, driving the market growth.

• The alternatives of biostimulants over health concerns can create challenges, hindering the market growth.

• Easy availability of seaweed can create lucrative opportunities for the market growth.

Scope of the Report

The report on the South America biostimulants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

South America Biostimulants Market Segment Insights

Amino Acid segment is expected to exhibit a high CAGR

Based on active ingredients, the market is divided into humic acid, fulvic acid, amino acid, protein hydrolysates, seaweed extracts, and other active ingredients. The amino acid segment is expected to grow at a rapid pace during the forecast period owing to growing adoption of organic chemical compounds as active ingredients for biostimulants production. However, the seaweed extracts segment is anticipated to hold a major share of the market in the coming years owing to easy availability of seaweed, which can promote the growth and improve the quality of the plants.

Natural segment is projected to expand at a considerable CAGR

On the basis of origins, the market is segregated into natural biostimulants and biosynthetic biostimulants. The natural segment is projected to expand at a substantial CAGR during the forecast period due to increasing tolerance to environmental stress. On the other hand, the biosynthetic biostimulants segment is anticipated to account for a major market share owing to rising formulation of microbial substances. This type of substance strengthens the plant stem.

Soil segment is expected to grow at a healthy rate

In terms of applications, the market is divided into foliar, soil, and other applications. The soil segment is expected to grow at a rapid pace during the forecast period owing to increasing soil fertilization due to its cost-effectiveness. However, the foliar segment is anticipated to hold a key share of the market in the coming years. Instant activation of simulating photosynthesis and increasing plant metabolism are driving the segment growth.

Cereal segment is projected to grow at a robust pace

Based on crop types, the market is divided into cereals, oilseeds, fruits and vegetables, turf and ornamentals, and other crop types. The cereal segment is projected to grow at a robust pace due to increasing consumption of cereals such as wheat, rye, oats, and maize. However, the fruits & vegetables segment is anticipated to hold a major share of the market in the coming years owing to rising necessity to meet the daily requirements of fruits & vegetables.

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Brazil is anticipated to constitute a key market share

In terms of geography, the market is classified as Brazil, Argentina and the rest of South America. The market in Brazil is expected to constitute a major share of the market during the projected period. Easy availability of natural substances such as seaweed and humic acids is driving the country’s market growth. However, Argentina is anticipated to expand at a rapid pace during the forecast period as the climate in Argentina is quite challenging, which makes it difficult to secure high crop yield.