Technavio has announced the release of their research report on the global amino acid fertilizer market for the forecast period 2019-2023. This amino acid fertilizer market analysis report segments the market by product (liquid formulated fertilizer and dry formulated fertilizers) and geography (APAC, Europe, MEA, North America, and South America).
Global amino acid fertilizer market size will grow by US$167.64 million during 2019–2023, at a CAGR of over 8%. Environmental stress conditions such as pest attack, phytotoxicity, low humidity, high temperature, frost, and drought affect plant metabolism, lower the volume and quality of crop production, thereby causing yield losses in seed-producing plants. To prevent this from happening, farmers are implementing the use of amino acid fertilizers before, during, or after the occurrence of environmental stress. This not only catalyses the growth process but also improves plant metabolism. The application of amino acid fertilizers will increase with the rising prevalence of seed-borne diseases and changing climatic conditions.
Growing adoption of organic farming in developed countries
Chemical fertilizers can impair soil quality and impede biological activities in the soil when used in excess. As a result, there is an increase in the demand for alternative solutions that can replenish nutrient content in crops and improve the agricultural output. Farmers are inclined towards more sustainable farming options such as organic farming. This will propel the demand for amino acid fertilizers as it involves low operational costs, maintains microbial balance, promotes microbial activity, enhances soil sustainability and fertility, and does not harm the environment.
“The growing concerns about crop nutritional content and safety and the introduction of stringent regulations will drive the amino acid fertilizer market growth in Europe. Additionally, the increasing demand for organic fertilizers and biostimulants along with the presence of established amino acid fertilizer vendors will also drive the growth of the market in Europe”, said an analyst at Technavio.
Vendors are making efforts to expand their market presence and product portfolio by forming strategic partnerships with their counterparts in related markets. It helps them in improving their revenue inflows and widen their customer base. Moreover, they are motivated to develop novel products and carry out consistent research and development activities. This has enabled them to introduce farmyard manures and organic fertilizers such as amino acid fertilizers.
Read the article online at: https://www.worldfertilizer.com/nitrogen/11042019/global-amino-acid-fertilizer-market-to-grow/