GroGenesis Inc (OTCMKTS:GROG), a leading manufacturer and developer of agricultural enhancement products, is pleased to refine its market segmentation. As per the reports, the company looks forward to rolling out its two major products — AgraBlast and AgraBurst commercially.
Insights On Matter:
The company has already conducted a few market studies to ensure that the awareness of its customers in the nascent bio-stimulant sector can be enhanced without any hassle. It’s an emerging industry classification that has a great potential as an agriculture nexus of new commercial adoption and technology advancements. It’s been not more than a few years since it first came into the existence. However, the European Bio-stimulants Industry Council claims that over 3 million hectare land get repeated bio-stimulant usage year after year in Europe.
According to a recently published report by MarketsandMarkets, the total value of the global bio-stimulant market is going to enhance to $2.5 billion by 2019 at a composite CAGR of 12.5% annually. In a separate report, Market Publishers of Birmingham claims that the bio-stimulant market in North America is expected to grow at a CAGR of 14.1% between 2014 and 2019.
Due to these strong trends, GroGenesis Inc (OTCMKTS:GROG) looks forward to establishing relations with distributors that can help it increasing reach in European and North American market in the coming months. Different organizations forecast different growth rates; however, the one thing that remain constant among all is the exponential growth that the world is going to see in crop protection products in the coming years.
According to Ceresana Research of Konstanz, Germany, the global crop protection production market, is going to increase at an eye-popping rate to touch $52 billion mark by 2019. In 2011, the regions that witnessed the highest growth in this field were Asian countries with 33% consumption, followed by Western Europe, South America, and North America. This time, a few other countries are expected to get included in the list as well.