The plant activators market stood at USD 597.14 Million in 2017; it is projected to grow at a CAGR of 6.6% from 2018, to reach USD 878.38 Million by 2023. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023. The main objective of the report is to define, segment, and project the global market size for plant activators on the basis of crop type, source, form, mode of application, and region. It also helps to understand the structure of the market by identifying its various segments.
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On the basis of form, the market was led by the solutions segment in 2017. Solution compositions, also known as flowable concentrates, are mainly in the form of emulsifiable suspensions or soluble liquid concentrates. Solution formulations are mainly preferred as they do not cause dust formation on spraying, do not cause toxicity or flammability, provide high efficiency due to smaller particle size, and low packaging volume. Moreover, foliar spray is the most widely used mode of application owing to its ease of application and high effectiveness.
On the basis of source, the biological segment dominated the plant activators market in 2017. Biological plant activators play an important role in plant growth as they help improve nutrient use efficiency. Biological products are made from naturally occurring substances that can work alone as well as complement traditional methods of plant production and protection. Their benefits include improving crop nutrient, promoting growth & yield, and providing insect control and disease protection. The high cost of developing new chemical pesticides, increase in insect & weed resistance to chemical treatments, and high regulatory pressure to limit chemical usage with respect to ecosystem damage have contributed to the need for these biological products.
The Asia Pacific region is an emerging market with investments from several multinational manufacturers, especially in countries such as China, New Zealand, and Japan.
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The availability of plant activator products still remains limited in the market, due to different regulations being prevalent in different countries. Moreover, there is a high dependence on chemical products in developing regions. These factors are expected to restrain the growth of the plant activators market.
Companies such as Syngenta (Switzerland), Isagro (Italy), Plant Health Care (US), Arysta LifeScience (US), and Nihon Nohyaku Co., Ltd. (Japan) have acquired leading market positions in the market through the provision of a broad portfolio, catering to the varied requirements of the market, along with a focus on the diverse end-user segments. They are also focused on innovation and are geographically diversified.