According to the recent business intelligence study by TMR, the global amino acid for agriculture market is anticipated to experience an incredible CAGR of 6 % over the forecast years I.e., 2020 to 2030. The increasing demand for precision farming is generating worthwhile revenue generation and industry expansion opportunities in the amino acid for agriculture market. Furthermore, the increasing popularity of various biostimulants is also propelling the development trajectory of the amino acid for agriculture market in the near future. Using biostimulants aids farmers in enhancing the intake of nutrients and reduces the requirement for chemical fertilizers.
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Moreover, the growth in the amino acid for agriculture market is also driven by the rising popularity of sustainable agricultural practices. Another major driver for the expansion of the amino acid for agriculture market is the rising number of reforms launched by governments across the world for crop protection. Additionally, the increasing trend of research and development projects, undertaken by the leading players in the amino acid for agriculture market to discover and market innovative products is also anticipated to help in the expansion of the amino acid for agriculture market in coming years.
Glutamic Acid Products Account for Largest Share in Amino Acid for Agriculture Market
A few of the major types of products offered by the leading manufacturers and prominent participants in the amino acid for agriculture market include methionine, leucine, arginine, alanine, aspartic acid, lysine, glutamic acid, valine, glycine, proline, tryptophan, and proline, among others. Among these, the highest share of the amino acid for agriculture market is held by the glutamic acid segment. The rising demand for glutamic acid products in the amino acid for agriculture market can be attributed to its benefits such as excellent chelating agent and ability to enhance the photosynthetic activities in the crop. The rising demand for biostimulants based on the humic acid is positively influencing the development of the amino acid for agriculture market.
These products and solutions in the amino acid for agriculture market are sourced from various sources, including animal based sources, by products of natural pharmaceutical manufacturing processes, and plant based sources, among others.
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Asia Pacific Leads the Amino Acid for Agriculture Market
Geographically, the amino acid for agriculture market can be segmented into individual regions, such as Asia Pacific, Middle East and Africa, North America, Latin America, and Europe. Among these, the Asia Pacific region is anticipated to record the highest growth within the amino acid for agriculture market in coming years. Some of the key drivers for the expansion of the Asia Pacific amino acid for agriculture market include the presence of China, a major shareholder within the global industry as well as the increasing demand from the regional economy of India.
India is one of the major agricultural economies in the world. The increasing demand for precision farming practices is stimulating high interest in the solutions and products from the amino acid for agriculture market in India. The rising level of awareness pertaining to the significance of sustainable agricultural practices and methods in India is anticipated to foster the development trajectory of the Asia Pacific amino acid for agriculture market in the near future.
A few of the most competent and leading manufacturers and players working in the landscape of the amino acid for agriculture market include Bill Barr & Company, Evonik Industries AG, AMINO GmbH, Ajinomoto Co., Inc., Wacker Chemie AG, and Kyowa Hakko Bio Co. Ltd., among others. The manufacturers and players working in the amino acid for agriculture market are focused on expanding their product portfolios to attract more customers and expand their geographical footprint.
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Amino Acid for Agriculture Market: Segmentation
Amino Acid for Agriculture Market, by Product
- Lysine
- Methionine
- Glutamic Acid
- Leucine
- Valine
- Arginine
- Glycine
- Alanine
- Proline
- Others (including Aspartic Acid and Tryptophan)
Amino Acid for Agriculture Market, by Source
- Plant-based
- Animal-based
- Others (including By-products of Natural Pharmaceutical Manufacturing Process)
Amino Acid for Agriculture Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Rest of Middle East & Africa
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