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Illinois Ag News Headlines |
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Plant Activators Market Worth $878 Million by 2023
Illinois Ag Connection - 05/23/2018
The report "Plant Activators Market by Crop Type, Mode of Application, Source, Form, and Region - Global Forecast to 2023," published by MarketsandMarkets, says the market is estimated at $636.76 million in 2018 and is projected to reach a value of
$878.38 million by 2023, at a CAGR of 6.6% from 2018 to 2023.
The market is driven by factors such as growing consumer preference for organic foods, new product registrations, decrease in arable land, and technological advancements in the agricultural industry. On the other hand, lack of awareness, increased prices of
raw materials, and high R&D costs are the key factors hindering the growth of this market. This indicates that there is immense scope for the growth of the Plant Activators Market, globally.
The solutions segment accounted for the largest share of the global Plant Activators Market in 2017. They are the most popular forms of plant activators in the agricultural industry. Solution formulations are mainly preferred as they do not cause dust formation on
spraying, do not cause toxicity or flammability, provide high efficiency due to smaller particle size, and low packaging volume.
Plant activators are increasingly gaining importance in the fruits and vegetables industry. With the rise in production of fruits and vegetables, the demand for plant activators has been increasing in this segment. The high export potential of these products has also
led to an increase in production levels.
Biological plant activators play an important role in plant growth as they help improve nutrient use efficiency. The high cost of developing new chemical pesticides, increase in insect & weed resistance to chemical treatments, and high regulatory pressure to limit
chemical usage with respect to ecosystem damage have contributed to an increase in demand for biological plant activator products.
In 2017, the European region dominated the global market for plant activators. European agriculture is driven by technical advancements, economics, politics, climatic changes, and consumer demand. Plant activators have received wide-scale acceptance in
Europe as they are expected to increase long-term agricultural productivity and help realize the goal of food self-adequacy.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Syngenta (Switzerland), Isagro (Italy), Plant Health Care (US), Arysta LifeScience
(US), Nihon Nohyaku Co., Ltd. (Japan), Meiji Seika (Japan), Certis (US), Gowan (US), Futureco Bioscience (Spain), NutriAg (Canada), and Eagle Plant Protect Pvt. Ltd. (India).
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