The Latin America Flowering Stimulants Market was worth USD xx billion in 2021 and is projected to grow at a CAGR of xx%, to reach USD xx billion by 2026. Flowering of plants is very essential in both agriculture and horticulture. In horticulture good flower yield is the priority to bear fruits and in agriculture also good flowering gives good yield. So, farmers always try to increase the flower yield by using excessive fertilizers, both organic and chemical. This increases the yield but it has a limit to the growth and use of excessive fertilizers support growth of other vegetation which is not desirable.
Flower formation in plants is stimulated by certain hormones namely auxin, cytokinin, gibbrellic acid and Ethylene. Flowering stimulants increases the production of these substances in the plant and also in ratios favorable for flower yield. Currently, Nitrobenzene mixed with some other chemicals is the best and most used stimulant. It is estimated that flowering stimulants increase the flower yield by more than 40%.
Drivers and Restraints of Latin America Flowering Stimulants Market:
Increase in the crop yields has become stagnant due to the increase in the use of fertilizers and other chemicals. This increased the demand alternatives which can increase the crop yield resulting in the demand for flowering stimulants. Increasing necessity to improve crop yields due to the decreasing agricultural land, rapidly increasing population and increasing awareness among people regarding the stimulants are expected to drive the flowering stimulants market. However, availability of alternate chemicals and strict approval regulations are restricting the market growth.
Latin America Flowering Stimulants Market – By Type:
Solid Flowering Stimulants
Liquid flowering stimulants hold the largest market share as they are easily absorbed by the plant within a short time.
Latin America Flowering Stimulants Market – By Application:
Usage of flowering stimulants is very high in horticulture. It is because of the restrictions on the use of many fertilizers in horticulture. Agriculture segment is expected to be the fastest growing segment due to the increasing popularity for flowering stimulants.
On the basis of region, the Latin America Flowering Stimulants market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Latin America is expected to be the fastest growing segment due to the increasing awareness among consumers. Brazil accounts for the largest market share in this region.
Some of the major players in Flowering Stimulants market are Greenland Bio-Science, Molecule Agri, Nitesh Agro Industries, Sikko Industries, Redox Industries, Rishabh Intermediates, Bhartiya Fertilizers and Chemicals and Agrichem Life Science.
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