“The North American biostimulants market is estimated to grow at a CAGR of 14.1% from 2014 to 2019. The North America market is leading the global biostimulants market. Globally, North America is one of the most technically advanced regions. The remarkable biotechnological growth in the field of ex situ production of enzymes and acids is driving the growth of the North American biostimulants market. These developments have led to the production of efficient biostimulants. Genetic engineering and advanced molecular biology have enabled the bioreactor-based production of amino acids and related compounds. Techniques such as gas chromatography, spectrometry, colorimeters, HPLC, and so on are being widely used to extract, process, and identify such amino acids.
In this report, the North American biostimulants market has been broadly discussed by its application in crop types. The application of biostimulants in turf and ornaments is estimated to grow at the fastest CAGR from 2014 to 2019. An in-depth analysis of the North American biostimulants market by active ingredients, such as acids and extracts, has been provided in this report.
The North American biostimulants market is dominated by the U.S. segment, which accounted for a market share of 78.0% in 2014, followed by the Canadian segment. The segment in Mexico is expected to grow at the fastest CAGR from 2014 to 2019. This is because farmers have employed modern agriculture techniques involving farm mechanization and precision farming.
Taminco Corp. (Belgium) holds the largest share of the North American biostimulants market, as of 2014. The other firms such as Italopolina S.p.A (Italy), Koppert BV (Netherlands), and Isagro S.p.A (Italy) are competing for a significant share of the biostimulants market in the North American region. These companies are adopting market strategies such as mergers & acquisitions, joint ventures, new product developments, and expansions to increase their market shares in the North American biostimulants market.
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