The key players identified in the biostimulants market include Isagro (Italy), Arysta (US), Valagro (Italy), and Biolchim (Italy). The market is projected to reach a value of USD 3.29 Billion by 2022, at a CAGR of 10.43% from 2017. The biostimulants market is driven by factors such as high demand for sustainable agricultural approach and cost-effective products with safer application techniques.
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The key market players adopted strategies such as product developments, expansions, new product launches, and acquisitions for strengthening their market outreach in different geographical regions through their innovations in active ingredients. Leading players have been focused on strengthening their R&D proficiencies by signing agreements with other companies to develop innovative biostimulant products for crop protection.
The key established players in this market hold an effective distribution channel through their business units across the world along with strategic collaborative strategies. Market leaders such as Biolchim (Italy), Koppert (Netherlands), and Valagro (Italy) have successfully tapped the potential markets through the development of innovative product launches, partnerships, agreements, and expansions. These key companies focused on investments and expansions in the market on a regional as well as global level, to strengthen and expand their position in the biostimulants market. The trend of biostimulants has been on an upward scale owing to the growing concerns about the usage of pesticides. The focus of competitive rivalry among these players has been on improving the crop yield by way of effective usage of agronomic practices.
To build their competencies, the players are required to diversify their business operations across the high-growth markets with effective distribution networks. Among the key players, Valagro (Italy) has been active in adopting these strategies in the developing regions of Asia Pacific and South America. In the first quarter of 2016, Valagro made considerable progress in establishing its business units in India and China by acquiring Sri Biotech Laboratories India (Limited) and its Chinese subsidiary, respectively.
Biolchim, Valagro, and Koppert (Netherlands) have also been involved in acquiring companies to strengthen their back-end operations to efficiently streamline their raw material supplies, expand their geographical presence, or enhance their existing technologies. Valagro acquired Sri Biotech Laboratories India Limited in March 2016; Koppert acquired the microbial business of Certis in September 2015; and Biolchim reached an agreement to acquire 60% of Ilsa in March 2017. Acquisitions are observed as the last option among the players, but with the increasing competition in the last decade, many acquisitions are projected to surface in the next 3–4 years.
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Related Reports:
Biostimulants Market by Active Ingredient (Humic Substances, Seaweed, Microbials, Trace Minerals, Vitamins & Amino Acids), Crop Type (Row Crops, Fruits & Vegetables, Turf & Ornamentals), Formulation, Application Method, and Region - Global Forecast to 2022
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