The Moroccan biostimulants market will reach to USD 8.8 million by 2021

Date:08-08-2016

According to the reports of "Morocco Biostimulant and Biopesticide Market Biostimulants  Forecast to 2021" from micromarketmonitor ,The Moroccan biostimulants market is estimated to be valued at USD 5.3 million in 2016 and projected to reach USD 8.8 million by 2021, at a CAGR of 10.7% from 2016 to 2021. Similarly, the market for biopesticides in Morocco was valued at USD 10.7 million in 2015 and is projected to reach USD 19.4 million by 2021 at a CAGR of 10.3% from 2016 to 2021.

The market growth is driven by the increasing awareness about use of biostimulants in organic farming and promotion of Integrated Pest Management (IPM) by the government of Morocco boosting the use of biopesticides for minimizing environmental hazards.

The key players identified in the Moroccan biostimulants and biopesticide markets are BASF SE (Germany), Novozymes A/S (Denmark), ISAGRO SPA (Italy), SAPEC Group (Trade corporation international) (Belgium), and Platform Specialty Products Corporation (U.S.). The other important companies operating in the biopesticides and biostimulants markets in Morocco are Bayer CropScience Ag (Germany), Dow Chemical Company (U.S.), Monsanto Company (U.S.), Koppert B.V. (The Netherlands), and Certis USA LLC (U.S.).