Market Research Future (Food and Beverages) Latin America Biostimulants Market Research Report | Page 3

Latin America Biostimulants Market Research Report- Forecast to 2023
2 Market Overview
Biostimulants can be any microorganism or substance applied to plants or soils to regulate and improve the crop’s
physiological processes and bring in nutrient efficiency by enhancing crop vigour, quality and post-harvest shelf
life/conservation. Biostimulants supplied to the user, differ in formulations with the intention to foster plant growth
and development throughout the crop life cycle beginning from seed germination to plant maturity.
Latin America has significant resources of unexploited agricultural land (concentrated in Brazil and Argentina) and it
will continue to play a vital role in global food production and exports in the future. The region has been involved in
the production and export of diverse range of agricultural commodities ranging from coffee in Brazil. The need to
improve agricultural yield will be a pivotal factor to meet domestic food demand and maintain export competitiveness
at regional level. All these factors will influence the demand of biostimulants and will lead to surge in sales of
biostimulants. Globally the market for biostimulants is estimated to grow at the rate of about 13.40% from 2017 to
2023.
Regional Analysis:
The Latin America Biostimulants market includes countries such as Brazil, Argentina, Mexico and rest of Latin
America. Among these Brazil dominates the market and will continue to dominate the market during the forecast
period 2017-2023. Mexico is estimated to grow at a highest CAGR during the forecast period, rising demand for
organic food ingredients and clean label food & beverages in recent years has been observed.
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