March 09, 2020
The recent study titled ‘Italy & Spain Biostimulants Market Size by Active Ingredients, Crop, Application, Form, Application Potential, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, provides an exhaustive documentation of market dynamics and entails projections about overall valuation of Italy & Spain biostimulants industry.
As per the report, Italy & Spain biostimulants market is projected to cross USD 386 million by the end of 2024. Increasing efforts to improve soil fertility and farm productivity is fueling the demand for biostimulants in Italy & Spain. Several benefits such as high tolerance against abiotic and biotic stress, coupled with easy availability of raw materials and low manufacturing cost are encouraging the adoption of biostimulants. Growing inclination towards sustainable agricultural practices, green innovation, and escalating demand for organic food will enhance the market growth. Furthermore, favorable government initiatives to increase arable areas and negate the harmful effect of synthetic fertilizers will present new growth prospects for Italy & Spain biostimulants market.
In terms of active ingredients, acid-based segment presently accounts for 70% share of Italy & Spain biostimulants market and is expected to register modest growth in the coming years. The growth can be affixed to the ability of these ingredients to promote natural growth of organism in soil and improve energy absorption capacity. Higher shelf life, better nutrient absorption, and resistance to plant infections are other benefits encouraging the adoption of acid-based biostimulants.
Speaking of the application spectrum, foliar spray segment is slated to hold a significant share of Italy & Spain biostimulants market by 2024, owing to growing awareness regarding the benefits associated with biological microbes and advanced farming technologies. High efficiency of foliar spray in supplying nutrients to plants at a rapid rate is further augmenting the product adoption.
The report cites that row crops segment accounts for a majority of biostimulants demand in the regions, as the product enhances the tolerance of row crops to adverse weather conditions, pests, and weeds. It also improves the nutrition uptake, resulting in a healthy and strong appearance of the crops. Increasing production of food grains and oilseeds, in tandem with growing adoption of advanced farming practices will continue to stimulate the segment growth in the forthcoming years.
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Speaking of the form, dry biostimulants market in Italy Spain is projected to grow modestly during the analysis period. These biostimulants are water soluble and consist of humic acid, amino acids, chelated iron, dextrose, vitamins, and beneficial bacteria which result in enhanced respiration, lateral bud development, cell division, and prolongs the lifespan of plant tissue, thereby indicating a higher product adoption in the regions.
Major participants of Italy & Spain biostimulants market include Bayer, Seipasa, BASF, Valagro, LSA, Biovert, Nutri Performance, Arysta LifeScience, and Koppert.
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