GroGenesis Inc (OTCMKTS:GROG) reported that as part of its ongoing business expansion plans it has decided to refine the market segmentation and commercial launch of its first two items: AgraBurst and AgraBlast.
As per the undertaken studies, GroGenesis management is determined to create increased market awareness in the budding biostimulant sector. It is a recent industry categorization that delivers immense potential as an agricultural network of state-of-the-art technological advancements and commercial adoption. The report of EBIC highlights that more than 3 million hectares of land is treated with frequent biostimulants in Europe every year.
MarketsandMarkets of Texas reported that the aggregate value of the international biostimulants market is projected to cross $2.5 billion by year 2019. Also, Market Publishers of Birmingham highlights the North America’s biostimulants market is anticipated to grow at a CAGR of 14.1% in next four years.
The future ahead
Considering the fact that industry is expected to boom in the coming time, GroGenesis intends to shift its focus on making deals with leading biostimulant distributors. The aim is to target North American and European firms seeking to increase crop production through the advancement of regional treatment plans featuring AgraBurst.
The expert view
Joe fewer, the CEO and President said that GroGenesis Inc (OTCMKTS:GROG) management believes the biostimulant market experienced strong growth in short period. The company wants to use the innovative and new technologies released in the agricultural segment. Remediation and crop protection items combined with health enhancement plans will mark the future of agriculture industry. The initiatives will bring in numerous benefits for future generations. It reflects a shifting societal as well as economic reality that could result in future benefits.
In last trading session, the stock price of GROG declined more than 7% to close the trading session at $0.380. The decline came at a share volume of 392,301 compared to average share volume of 101,229.