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(IndustryNews247.Com, November 27, 2019 ) The plant activators market is estimated at USD 636.76 million in 2018 and projected to grow at a CAGR of 6.6%, to reach USD 878.38 million by 2023. The market is driven by factors such as an increase in crop production, ease of application, increase in need for food security for the increasing population, and rise in consumer demand for organic foods. The change in farming practices (from traditional to modernized), clubbed with advanced technologies and promotion by the governments of many countries across the world also drive the demand for plant activators. However, the high dependence of chemical crop protection products and limited availability of biological plant activators are some of the factors restraining the growth of the plant activators market.
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Leading players profiled in this report:
• Syngenta AG (Switzerland)
• Isagro S.p.A. (Italy)
• Plant Health Care, Inc. (US)
• Arysta LifeScience (US)
• Nihon Nohyaku Co., Ltd. (Japan)
• Meiji Seika Pharma Co., Ltd. (Japan)
• Certis USA (US)
• Gowan Company LLC (US),
• Futureco Bioscience (Spain)
• NutriAg Ltd. (Canada)
• Eagle Plant Protect Pvt. Ltd. (India)
The demand for biological plant activators is exhibiting steady growth
On the basis of source, the biological segment is expected to exhibit a higher CAGR from 2018 to 2023. The use of biological plant activators has rapidly increased as they offer greater efficacy, low residue levels, and crop and environment safety; hence, the demand for biological plant activators is expected to increase in the coming years. 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 also to an increase in demand for biological plant activator products.
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High growth is expected in the Asia Pacific plant activators market
Asia Pacific is projected to be the fastest-growing market for plant activators during the forecast period. The region is an emerging market for plant activators with investments from several multinational manufacturers, especially in countries such as China, New Zealand, and Japan. The increasing adoption of modern agricultural practices and requirement of high-quality fruit & vegetable produce for exports are expected to drive the growth of the plant activators market in the region.
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Industrial News TV