The global bio-stimulant and kelp meal fertilizer market is estimated to reach 2.91 billion US dollars by the year 2021. Its expected Compound Annual Growth Rate (CAGR) is 10.4℅ from 2016-2021. This is in accordance with the Micro Market Monitor in its narrative "Latin American Bio-stimulants Market Analysis and Forecast in 2019".In addition, the bio-stimulants market is predicted to reach 24.9 million hectares by 2021, in terms of area use. It is also projected to grow at a CAGR of 11.7 from 2016 to 2021. The bio-stimulants market from Latin America is estimated to reach a CAGR of 17.5℅, for the duration of the forecast period of 2016 to 2021.
Components of bio-stimulants and their use
The substances and micro-organisms in plant bio-stimulants speed up natural activities that improve nutrient uptake, quality of crops, nutrient efficiency, and tolerance to abiotic stress when applied to the rhizosphere of plants.However, bio-stimulants cannot be considered as pesticides. This is due to the fact that they have no direct effect on pests. Earlier on, bio-stimulants were used mainly for the growing of horticultural products. Now they have become important for all main row crops such as corn, soybeans, rice, sugarcane, and wheat.Therefore, they have evolved into the main agricultural resources for sustainable crop production. Acid-based bio-stimulants are the most common in Latin America. Although, extract-based bio-stimulants can also be used.
Countries adopting bio-stimulants
42℅ of the region's market share for the Latin American bio-stimulants was dominated by Brazil in 2014. It was followed by Argentina. Brazil has adopted sustainable farming practices and organic ingredients to improve the quality of their produce. This has driven their market resulting in higher market value.These major players have been exploring the Latin American market by adopting different strategies. Some of them include new product launches, investments, and expansions within the last 5 years. According to AgroPages, most of the global suppliers of bio-stimulant in Latin American markets are from Europe.The countries are Spain with AgriTecno, Agricola, Tradecorp, Atlantica, Daymsa and EDEN modern Agriculture; Italy with Chemia, Green Has Italia, ILSA Group, Biolchim, Valagro, ISAGRO and ITALPOLLINA; Germany with COMPO GmbH; Ireland with BioAtlantis; Greece with Agrology; and Norway with Agrinos.There are still several active players from other regions. They include BRANDT from the USA; International Panacea Ltd from India; ACADIAN SEAPLANTS LIMITED and Earth Alive from Canada; Rural Liquid Fertilisers from Australia; Kelpak from SA; Leili Marine Bio Industry Incorporated from China; Rizobacter Argentina S.A. from Argentina; and ICL Specialty Fertilizers from Israel.
Kelp Meal Fertilizers
One type of bio-stimulant commonly used is kelp meal fertilizer. It is considered as such due to the presence of plant hormones in it. Made from dried seaweed, kelp meal is an all-natural organic fertilizer. This all-purpose soil treatment is full of important vitamins, minerals, and hormones. It also works well on potatoes and lettuce which are potassium loving plants. In liquid or dried form, it is one of the best bio-stimulants on the market. Key players include Arihant Bio Fertichem Pvt Ltd, Suboneyo Chemical Pharmaceuticals, Aveeno Active Naturals, INDIGROW Ltd, Saosis Biotech Private Limited, and AlgAran Seaweed Products, Ireland.ConclusionIn order to stabilize their place in the Latin American market, they have put up several measures. These are the use of impressive product portfolio launches, well set up front-end and back-end operations at these companies, and the purchase of active elements processors.