AminoAcid for Agriculture Market: Introduction
In terms ofvalue, the global amino acid foragriculture market is anticipated to expand at a CAGR of 6%from 2020 to 2030 and reach US$ 1 Bn by 2030. Asia Pacific dominated the globalamino acid for agriculture market in terms of volume in 2019. It is estimatedto be the leading region of the global amino acid for agriculture market duringthe forecast period. The growth of the agriculture industry is projected to offerlucrative opportunities for amino acids in near future. This is estimatedto boost the global amino acid for agriculture market in the near future.
Amino Acid for Agriculture Market:Key Drivers and Restraints
Theexpansion of the organic food industry, which represents just 1.2% of theworld’s farmland, is a key factor driving the global amino acid for agriculturemarket. The production of eco-friendly crops is essential in the currentscenario. Amino acids are non-toxic and eco-friendly. They play an importantrole in the development of sustainable agricultural products. Amino acids alsooffer excellent performance efficiency in terms of crop yield and cropprotection. They are effective alternatives to chemical-based agriculturalproducts. This is anticipated to drive the global amino acid for agriculturemarket in the near future. Biostimulants such as amino acids are expected tocontribute significantly to the rising demand for sustainable agricultureduring the forecast period. According to a research conducted by the EuropeanBiostimulant Industry Council (EBIC), the use of biostimulants along withfertilizers is anticipated to increase fertilizer efficiency by minimum 5% (mayrise as high as 25%). Furthermore, savings of 10% to 15% over the use of pesticideshave been registered after using biostimulants. Hence, rise in adoption ofbiostimulants, owing to its various advantages, is estimated to boost theglobal amino acid for agriculture market.
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Biostimulantssuch as amino acid for agriculture can alter the hormonal status of a plant andexert significant influence over its overall growth and vigor. Biostimulantshelp regenerate crop foliage damaged by pesticides, frost, or storm. Theyfoster growth and development of plants throughout the crop lifecycle (fromseed germination to plant maturity). Thus, usage of biostimulants such as aminoacid for agriculture is likely to be an eco-friendly solution to promote theagricultural yield. The time required to obtain end-results with biostimulantsis much higher than that with traditional agrochemicals. Biostimulants cannotbe employed in applications that require immediate results. Therefore,popularity of a broad range of traditional agrochemical products is negativelyimpacting the penetration of amino acid for agriculture products sector inplant growth and crop protection applications. Thus, reluctance in adoption ofadvanced products among farmers is a major restraint of the global amino acidfor agriculture market.
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Amino Acid for Agriculture Market:Key Segments
Based onproduct, the glutamic acid segment held a major share of the global amino acidfor agriculture market in 2019. This trend is anticipated to continue duringthe forecast period. Glutamic acid occupies a central position in amino acidmetabolism in plants. It plays a fundamental role in the process of formationof vegetative tissue and chlorophyll synthesis in plants. It also improvesphotosynthetic activity in plants and is an effective chelating agent. This isanticipated to augment the glutamic acid segment of the global amino acid foragriculture market. Based on source, the animal-based segment constituted alarge share of the global amino acid for agriculture market in 2019. This trendis estimated to continue during the forecast period. On the other hand, theplant-based segment of the global amino acid for agriculture market isprojected to expand at a rapid pace during the forecast period.
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Competition Landscape of Amino Acidfor Agriculture Market
Keymanufacturers operating in the global amino acid for agriculture market includeSICIT Group S.p.A., Jiloca Industrial, S.A., Futureco Bioscience S.A., UnionChemicals Co. LLC, Chaitanya Biologicals Pvt. Ltd., and ADLER AGRO.
