Asia Pacific Biostimulants Market Forecast 2021-2028
The Asia Pacific biostimulants market is predicted to grow with a CAGR of 12.26% in terms of volume, and 12.94% in terms of revenue, over the forecast period of 2021 to 2028. The region’s market growth is attributed to key factors, such as, the rising need for enhanced productivity, the growing importance of organic farming, and the surging demand for high-quality agricultural products.
The Asia Pacific biostimulants market growth is assessed through the evaluation of Thailand, Vietnam, Japan, China, India, South Korea, Australia & New Zealand, Indonesia, and the rest of the Asia Pacific. Organic food is gaining immense traction in India, owing to the increasing quality and transitioning consumer preferences. Moreover, with the growing demand for organic produce, the need for organic farming is anticipated to increase, as well. Consequently, this factor is projected to bolster the demand for biostimulants in India.
On the other hand, South Korea’s swift industrialization over recent decades has considerably slowed down its agriculture sector. Moreover, the country also battles with an aging farming population, which continues to rely on basic techniques. South Korea is also in the process of developing smart farm technology, in order to bolster the country’s food products export, and attract more tourists to the countryside. In this regard, the government has selected two cities, namely, Gimje in North Jeolla Province and - Sangju in North Gyeongsang Province, as spaces to establish the Smart Farm Innovation Valley. It entails an agricultural complex, predominantly based on Information and Communication Technology (ICT). Hence, these factors are set to fuel market growth.
Some of the distinguished companies operating in the market are, Valagro SPA, Tradecorp International, Arysta LifeScience Corporation, etc.
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• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
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