NEW YORK, April 29, 2015 /PRNewswire/ -- The global agricultural bio stimulants in turf & ornamentals market is estimated to grow at a CAGR of 14.5% from 2014 to 2019. Countries, such as the U.S., Spain, and Italy held substantial share in the agricultural bio stimulants in turf & ornamentals market in 2013. Furthermore, the agricultural bio stimulants in turf & ornamentals market in Latin America is expected to grow at a CAGR of 15.6% from 2014 to 2019, followed by the market in North America, which is projected to grow at a CAGR of 15.2% during the forecast period. The growth of the agricultural bio stimulants in turf & ornamentals market is driven by factors, such as promising results in yield, quality and productivity, need to fulfill the rising demand of mollifying and warming surroundings, and need for the restoration of soil. However, factors, such as the lack of awareness among turf and ornamental growers and stringent government rules and regulations are expected to restrain the growth of this market globally. Emerging economies, such as India, China, and Brazil are expected to be lucrative markets for agricultural bio stimulants in turf & ornamentals.
In this report, the global agricultural bio stimulants in turf & ornamentals market has been broadly classified on the basis of active ingredient, application, and geography. The acid-based bio stimulants market dominated the active ingredient segment with a share of 48.0% in 2013. The report provides in depth analysis of the global agricultural bio stimulants market with respect to five regions, namely North America, Europe, Asia-Pacific, Latin America, and Rest of the World.
Europe (comprising France, Germany, Italy, Spain, and the U.K.) contributed the largest share of 44.8% to the global agricultural bio stimulants in turf & ornamentals market in 2013. The agricultural bio stimulants in turf & ornamentals market in Europe is primarily driven by factors, such as the rise in disposable income, increased spending capabilities of the consumers, and the recovering economic conditions in the region.
There has been a substantial growth in the agricultural bio stimulants in turf & ornamentals market in the Asia-Pacific region, due to their increased usage in countries, such as China and India. The agricultural bio stimulants in turf & ornamentals market in Asia-Pacific is estimated to grow at a CAGR of 14.5% from 2014 to 2019, and was dominated by the market in India, with a share of 35.2% in 2013.
The global agricultural bio stimulant in turf & ornamentals market is a highly competitive market with a large number of players. As of 2014, the key players in this market are BASF SE (Germany), Taminco Corporation (U.S.), Isagro SpA (Italy), and Novozymes A/S (Denmark). New product launch, partnership, agreement, collaboration, and joint venture are the major strategies adopted by the market players to achieve growth in the agricultural bio stimulants in turf & ornamentals market.
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From an insight perspective, this research report has focused on various levels of analysis—industry analysis, comparison with parent market, market share analysis of top players, company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging- and high-growth segments of the global agricultural bio stimulants in turf & ornamentals market, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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