Frost & Sullivan: Plant Health Improvement Agents Enable Growers to Do More with Less
Jul 29, 2014 UncategorizedComments Off on Frost & Sullivan: Plant Health Improvement Agents Enable Growers to Do More with Less
— Smart fertilizers, PGRs, and bundled micronutrients are fast growing niche segments that will challenge bulk fertilizers in the market
MOUNTAIN VIEW, Calif., July 29, 2014 /PRNewswire/ — The plant health improvement agents (PHIA) market, which consists of micronutrients, synthetic fertilizers and plant growth regulators (PGRs), is growing steadily in North America mainly due to demand from the food, biofuel and plant-based chemicals industries. Rising healthcare costs combined with healthier eating trends have resulted in increased demand for high-value niche foods such as proteins, nuts, vitamins and minerals allowing for increased PHIA use in horticulture. The Renewable Fuel Standard and other regulations aimed at reducing carbon footprint through use of biofuels and natural products further support market demand.
New analysis from Frost & Sullivan, Analysis of the North American Plant Health Improvement Agents (PHIA) Market, finds that the market earned revenues of $15.45 billion in 2013 and estimates this to reach $19.66 billion by 2020. While synthetic fertilizers dominate the North American market with a 91.4 percent share, educated farmers are influencing the development and marketing of high-value products such as micronutrients and PGRs.
For complimentary access to more information on this research, please visit: http://bit.ly/1rwnrgr.
“Rapid advances in plant genetics and seed technology can outpace nutrient innovation and reduce dependence on standard bulk fertilizers,” said