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Plant Activators Market CAGR 6% From 2019 To 2024: Rising Demand for Organic Food and Increasing Awareness for Plant Protection
Plant Activators Market
Plant Activators of biological or chemical origin are substances that help in triggering the defense system in plants during biotic or abiotic stress conditions. The global Plant Activators Market is expected to garner a revenue of USD 880 million by 2024 with a CAGR of approximately 6% during the forecast period of 2019-2024. The major determinant driving the market growth of plant activators is the significant loss of crop production due to various biotic and abiotic stress conditions such as pest attack, drought, heat, and fungal and bacterial diseases.
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Plant Activators Market segmentation
The global plant activators market has been segmented based on source, form, crop type, mode of application, and region.
Based on Source, the market has been segmented into biological and chemical. Biological plant activators offer benefits such as improved crop efficiency, improved nutrient concentration in soil, enhanced growth and yield to plants, and effective insect and pest control. Also, they are less expensive than chemical plant activators. The price of chemical plant activators is rising due to research and development carried out to increase the arability of soil, whereas, biological plant activators offer high yield and with minimal impact on the environment. This accounts for the growth of the biological plant activators segment during the forecast period.
Based on Form, the global plant activators market has been classified as granules, solutions, and powders. The use of a form of plant activator depends on the crop; however, the use of solutions in the form of foliar sprays has been increasing in recent years due to ease of application.
On The Basis Of Crop Type, the market has been segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and turf and ornamentals. Cereals and grains is expected to be the leading segment during the forecast period due to the high consumption of rice and wheat across the globe.
The global plant activators market has been segmented, based on mode of application, into foliar spray and soil treatment. Foliar sprays are directly applied on to crops and are the most widely used mode of application owing to their high effectiveness and ease of application.
Plant Activators Market Competitive Analysis
Some of the prominent players in the global market of plant activators are Isagro (Italy), NutriAg Inc. (Canada), Syngenta (Switzerland), Plant Health Care (US), BASF SE (Germany), Gowan Company (US), Eagle Plant Protect Private Limited (India), Nihon Nohyaku Co. Ltd (Japan), Meiji Holdings Co. Ltd (Japan), Certis USA LLC (US), Arysta LifeScience Corporation (US), and Future Bioscience SA (Spain) are some of the key players in the global plant activators market.
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Plant Activators Market Regional Analysis
The market has been segmented with respect to five regions--Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa. The European market held the largest share of the global market in 2017 and is expected to grow at a significant rate during the forecast period. Asia-Pacific is projected to be the second largest and fastest-growing market during the review period. The North American market is expected to showcase moderate growth, while the markets in Latin America and the Middle East & Africa are expected to grow steadily during the forecast period.
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