LONDON--(BUSINESS WIRE)--The global amino acid fertilizer market is expected to grow by USD 184.05 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The excessive use of fertilizers by farmers to accelerate crop production has resulted in low biological activities in the soil and poor soil quality. This has created a demand for sustainable farming practices such as organic farming. Amino acid fertilizers are widely used in organic farming because of their ability to enhance crop growth by promoting microbial activity and improving soil fertility. The increasing health awareness and government support will further boost the adoption of organic farming among farmers, especially in developed countries. This will subsequently drive the demand for amino acid fertilizers.
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As per Technavio, the environmental stress affecting crop yield will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Amino Acid Fertilizer Market: Environmental Stress Affecting Crop Yield
Environmental stress can lead to high yield losses in seed-producing plants and cause seed-borne disease outbreaks. Hence, it is necessary to implement crop protection mechanisms and boost the environmental stress resistance of crops. The application of amino acid fertilizers to improve the amino acid intake of plants has emerged as one such solution to counter the effects of environmental stress. This will further boost the global amino acid fertilizer market growth during the forecast period.
“Factors such as the global initiatives to improve agricultural output in underdeveloped countries, and the increasing popularity of integrated plant nutrient management will have a significant impact on the growth of the amino acid fertilizer market value during the forecast period,” says a senior analyst at Technavio.
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Amino Acid Fertilizer Market: Segmentation Analysis
This market research report segments the amino acid fertilizer market by product (liquid formulated and dry formulated) and geography (Europe, APAC, North America, South America, and MEA).
The European region led the amino acid fertilizer market in 2019, followed by APAC, North America, South America, and MEA respectively. During the forecast period, the European region is expected to register the highest incremental growth due to the stringent regulations pertaining to crop nutritional content and safety.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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