New York, United States , July 30, 2024 (GLOBE NEWSWIRE) -- The Global Amino Acid For Agriculture Market Size is to Grow from USD 5.68 Billion in 2023 to USD 8.17 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.7% during the projected period.
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Amino acids are essential to plants and play a major part in their functioning. They are the building blocks of proteins. minerals that are rich in amino acids and essential to plant development. It can be used to grow almost any crop, including groundnuts, potatoes, chiles, tomatoes, and onions, as well as wheat and corn. Plants can utilize these organic molecules as the most energy-efficient type of nitrogen fertilizer, which will eventually produce larger, higher-quality crops when applied correctly. In addition, they can be made totally from plants, are low-energy consumers, support healthy microbiological activity in the soil. Furthermore, higher yield and quality are closely linked to greater profitability in the labor-intensive field of agriculture production. Amino acids are the building blocks of proteins, which are the fundamental unit of all living things. Proteins are created when amino acid sequences come together. Plants use secondary metabolic pathways to create amino acids by mixing carbonate, which is formed during photosynthesis, with nitrogen that they take up from the soil. Furthermore, the market for agricultural amino acids is growing in income due to the use of organic farming methods. Increased use of organic farming techniques is a result of growing public awareness of the harmful impact that chemical fertilizers have on the environment and human health. However, the usage of organic farming practices is driving up the price of the agricultural amino acid market. Growing public awareness of the detrimental effects that chemical fertilizers have on the environment and human health has led to an increase in the usage of organic farming practices.
Browse key industry insights spread across 177 pages with 110 Market data tables and figures & charts from the report on the "Global Amino Acid For Agriculture Market Size, Share, and COVID-19 Impact Analysis, By Crop Type (Turf & Ornamentals, Oilseeds & Pulses, Fruits & Vegetables, Cereals & Grains, and Other Crops), By Product (Liquid, Powder, and Granules), By Application (Fertilizers, Animal Feed, and Plant Growth Regulators), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The fruits & vegetables segment is anticipated to hold the greatest share of the global amino acid for agriculture market during the projected timeframe.
Based on the crop type, the global amino acid for agriculture market is divided into turf & ornamentals, oilseeds & pulses, fruits & vegetables, cereals & grains, and other crops. Among these, the fruits & vegetables segment is anticipated to hold the greatest share of the global amino acid for agriculture market during the projected timeframe. One benefit of adding amino acids to fruits and vegetables is that they use a lot less energy in their production. Improved plant vigor and stress tolerance as well as a notable decrease in the harm that stressful conditions do to the quality and performance of fruits and vegetables are results of this energy savings. The presence of amino acids in the levels needed by the plant during several growth phases, especially important ones like fruit set, fertilization, and pollination.
The liquid segment is expected to grow at the fastest pace in the global amino acid for agriculture market during the projected timeframe.
Based on the product, the global amino acid for the agriculture market is divided into liquid, powder, and granules. Among these, the liquid segment is expected to grow at the fastest pace in the global amino acid agriculture market during the projected timeframe. When liquid amino acids are sprayed on leaves or mixed into the soil, they are rapidly absorbed by the roots and foliage of a plant. They are also more successful in boosting plant growth and productivity, stress tolerance, and nutrient uptake. Due to liquid amino acids are inexpensive and convenient to transport, farmers and crops alike favor them.
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Asia Pacific is expected to hold the largest share of the global amino acid for agriculture market over the forecast period.
Asia Pacific is expected to hold the largest share of the global amino acid for agriculture market over the forecast period. Asia Pacific is expected to hold the largest share of the global amino acid for agriculture market over the forecast period. Amino acid requirements in agriculture are predicted to rise in developing nations like China and India, where the sector contributes significantly to GDP and is seeing rapid economic growth. The availability of inexpensive fertilizers and animal feed based on amino acids in the area is another factor driving up demand. The growth of the e-commerce sector, which is making it simpler to get a range of agricultural inputs, including products based on amino acids, is increasing the region's need for amino acids in agriculture. It is anticipated that the existence of significant competitors providing a range of incentives, like discounts and rebates, will attract more customers to the region and accelerate the growth of market revenue.
North America is predicted to grow at the fastest pace in the global amino acid for agriculture market during the projected timeframe. Demand for ammonia fertilizer is rising, and many believe it will be the fuel of the future, especially for the marine industry. Between 2020 and 2025, the US ammonia market is expected to grow by 7.8%. The primary source of ammonia needed at that time is the fertilizer industry. The US is one of the world's leading producers and consumers of ammonia. In 2023, the US generated 14 million metric tons of ammonia, according to estimates. That year, seventeen different firms produced ammonia at thirty-six plants in the United States.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Amino Acid For Agriculture Market include Ajinomoto Group, CJ CheilJedang Corp., Degussa Corporation, Kyowa Hakko Kirin Co. Ltd., Yara International ASA, Novozymes A/S, CHS Inc., BASF SE, Evonik Industries AG, Haifa Chemicals, Arab Potash Company, Omex, Everris, Bunge, and others.
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Recent Developments
- In April 2024, leading biocontrol technology inventor and manufacturer Bionema Group Ltd. recently announced the launch of a new line of biostimulant products in the UK for use in agriculture, horticulture, forestry, and turf & facilities.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Amino Acid For Agriculture Market based on the below-mentioned segments:
Global Amino Acid For Agriculture Market, By Crop Type
- Turf & Ornamentals
- Oilseeds & Pulses
- Fruits & Vegetables
- Cereals & Grains
- Other Crops
Global Amino Acid For Agriculture Market, By Product
- Liquid
- Powder
- Granules
Global Amino Acid For Agriculture Market, By Application
- Fertilizers
- Animal Feed
- Plant Growth Regulators
Global Amino Acid For Agriculture Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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