Bio stimulants is segmented into Acids, Extracts and others comprising of 54.2%, 40.7% and 5.1% respectively, of the North American Bio stimulants market.
(PRWEB) July 05, 2014
The major crops in North America consist of grains, legumes, fruits, and vegetables. Agriculture in this region has become mechanized. The population of Mexico still follows the traditional agriculture practices. There is a shift towards the organic agriculture practices, which has increased the demand for organic inputs in farms. The increase in demand for agriculture quality products, organic produces, and the rising need for high productivity and yield, is expected to increase the bio-stimulants consumption in North America, especially in the U.S. and Canada.
The U.S. is the market leader of bio-stimulants in North America with revenue of $193.4 million in 2012. Mexico is the fastest-growing nation in this region, at a CAGR of 12.6% during the period 2013 to 2018.
Browse through the market data tables, figures and detailed ToC on the “North America Bio Stimulants Market”.
European Bio Stimulants Market
Agriculture contributed to 10% of the European Union’s total GDP, recorded in 2012. It is the world’s biggest cereals producer, producing maize, barley, rye, oats, and so on. The increasing land degradation and the requirement for high quality and productivity of crops pressurize the leading exporting countries for agricultural produce. Also, the demand for organic produce and the need to avoid environmental pollution is increasing. Hence, the consumption of bio-stimulants is expected to increase in Europe at a CAGR at 12.2%, during the period 2013 to 2018. Spain is the leader of the bio-stimulants market in the European region, with revenue of $103.2 million in 2012.
Asian Bio Stimulants Market
The increasing agricultural practices and requirement of high quality produce is expected to drive the bio-stimulants market in the Asia-Pacific region. Major crops produced in the Asia-Pacific are fruits & vegetables, cereals, grains, and so on. The Asian crop production supports 60% of the world population. The key countries playing an important role in agriculture are China and India, with revenue of $59.7 million and $81.9 million, respectively, in 2012. Cotton, sugarcane, fruits & vegetables, and cereals are the leading agriculture commodities exported. The Asia-Pacific region has rich source of seaweed extracts, which drives the attention of bio-stimulants manufacturers.
Latin America Bio Stimulants Market
The bio-stimulants market in Latin America is mostly concentrated in Brazil and Argentina. The revenue generated in Brazil and Argentina was $61.4 million and $57.9 million, respectively, in 2012. The usage of bio-stimulants is mainly done in plantation crops, cereals, and fruits & vegetables in Latin America. The lack of awareness, less technical know-how, and minimum R&D curtails the bio-stimulants market in Latin America. But it is expected to be the fastest-growing market at a CAGR of 14.4% during the period 2013 to 2018.
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