The use of bio-stimulant devices is an emerging trend in the agricultural industry, and it appears to be driving South Africa's bio-stimulant market growth.
The Middle East and Africa bio-stimulants market is estimated to secure a valuation of US$ 84.6 million in 2023 and is projected to rise to US$ 179.2 million by 2033. The market is securing a CAGR of 7.8% during the forecast period.
How are Farmers Adopting Bio-stimulants in the Developing Countries?
The adoption of bio-stimulants by farmers in developing countries is a growing trend. Bio-stimulants are substances and microorganisms that, when applied to plants, can enhance their growth, yield, and tolerance to environmental stressors. These products are typically derived from natural sources, including microbes, plant extracts, and animal waste.
One way farmers in developing countries adopt bio-stimulants is through government initiatives and programs promoting their use. For example, in India, the government has launched a program to promote using bio-stimulants among farmers. Under the program, farmers are provided with free bio-stimulant samples and training on their use and benefits.
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Another way that farmers are adopting bio-stimulants is through private sector initiatives. Many companies are developing and marketing bio-stimulants to farmers in developing countries. These companies often work closely with farmers to educate them on bio-stimulants benefits and how to use them effectively.
In addition, farmers in developing countries are adopting bio-stimulants through peer-to-peer learning and knowledge sharing. Farmers who successfully used bio-stimulants in their fields are sharing their experiences with other farmers to increase awareness and adoption of these products.
Overall, the adoption of bio-stimulants by farmers in developing countries is driven by a combination of government support, private sector initiatives, and peer-to-peer learning. As more farmers adopt these products, there is the potential to improve agricultural productivity and sustainability in these countries.
Key Takeaways:
Who is Winning?
The bio-stimulants market in the Middle East and Africa region is still in its early stages but rapidly growing. Several key players are making strategic moves in this market, including:
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Other Key Players in the Market are:
Recent Developments in the Middle East and Africa Bio-stimulants Market are:
The Middle East and Africa Bio-stimulants Market Market by Category
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 22, 2023