フミン系バイオ刺激剤市場- 世界の産業規模、シェア、動向、機会、予測、2018～2028年

フミン系バイオ刺激剤の世界市場は、予測期間2024～2028年年に目覚ましいCAGRで成長する見込みです。

フミン系バイオ刺激剤市場は、作物開拓における有機農薬の人気と需要の高まり、バイオ刺激剤開発への投資と研究の増加により成長しています。

有機またはバイオベースの刺激剤に対する需要の高まり

合成刺激剤をオーガニックやバイオベースの刺激剤で代用したいという消費者や農家の需要の高まりが、フミン系バイオ刺激剤の市場成長を後押ししています。農作物、油・種子、豆類、果物・野菜など、バイオベースの農産物に対する消費者の需要の増加は、農家の間でこれらの天然作物に対する大きな需要を生み出し、農薬を刺激し、改善しています。さらに、養分の保持を改善し、溶出を減らすことで、腐植物質ベースの生物刺激剤は、植物にとっての養分の利用可能性を高めるのに役立ちます。腐植物質は土壌の団粒化に寄与し、土壌構造と安定性を改善します。土壌の保水能力を高め、通気性を高め、浸食を防ぎます。これにより、植物の根の発達と養分の取り込みが促進されます。また、有機農法用に設計されたバイオ刺激剤の新シリーズを発売した企業もいくつかあります。例えば、UPLオーストラリアは2021年、GoActiv技術（海藻の一種であるAscophyllum nodosumから抽出した100％純粋なエキスに基づく技術）に基づくバイオ刺激剤の新シリーズを発表しました。

有機農業推進のための研究開発の増加

植物の成長を促進する腐植酸のような生物刺激成分を含む製品が、複数の主要市場企業から発売されています。フミン酸やフルボ酸などの成分は、植物の代謝プロセスや種子の発芽を刺激するために植物の発芽に使用され、それによって作物の生産を刺激し、同時に市場の成長を支えています。フミン酸は、干ばつ、塩分、極端な温度など、さまざまな生物学的ストレスに耐える植物の能力を向上させることが示されています。抗酸化活性を高め、植物ホルモンレベルを調整し、酸化ダメージを軽減することで、ストレス保護剤として機能します。また、主要な市場参入企業が受け入れている新しいアプローチには、バイオ刺激剤を様々なミネラルでキレート化することも含まれます。その他の特典として、大手企業は互いに利益をもたらすパートナーシップを開始し、新しいバイオ刺激剤を生産するための革新的な解決策を見出し、それによってフミン系バイオ刺激剤市場の成長を支えています。例えば、2019年7月、ValagroはMarrone Bio Innovations（米国）と研究提携を結び、厳しい環境でも繁茂し、より旺盛に成長し、優れた根系を持つことができる生産のための相互の技術的・研究的利益を共有しました。

新興諸国における農薬需要の増大

土壌の急速な劣化により植物に病害が発生し、土壌環境に影響を及ぼしているため、作物生産に利用可能な自然土壌が減少しています。同時に、土壌能力を回復させることで作物生産を向上させるためのバイオ刺激剤に対する大きな需要が生まれています。腐植物質は土壌中の有益な微生物活動をサポートします。腐植物質は、バクテリアや菌類を含む有益な土壌微生物に食物源と生息地を提供します。これにより、養分の循環、病害の抑制、土壌全体の健康状態が改善されます。フミン系バイオ活性剤は、葉面散布、種子処理、土壌改良など、さまざまな方法で植物に与えることができます。また、肥料やその他の作物保護剤と併用することで、植物のパフォーマンスと収量を最適化することができます。また、腐植ベースのバイオ刺激剤の使用量が増加していることは、これらのバイオ刺激剤を使用して栽培された作物の食糧とその栄養素の不足を補うのに役立っていることが分かっています。

例えば、インドや中国のような国々では、人口増加による食糧需要の増加を満たすために作物生産に対する需要が増加しており、それによって、フミン酸、フルボ酸などのバイオ刺激剤に対する需要が生じています。

利用可能なカスタマイズ

TechSciリサーチは、所定の市場データを使用して、企業の特定のニーズに応じてカスタマイズを提供します。レポートでは以下のカスタマイズが可能です。

企業情報

• 追加市場参入企業（最大5社）の詳細分析とプロファイリング

目次

第1章 概要

第2章 調査手法

第3章 エグゼクティブサマリー

第4章 顧客の声

第5章 フミン系バイオ刺激剤の市場展望

• 市場規模と予測
  • 金額別
• 市場シェアと予測
  • タイプ別
  • 用途別
  • 製剤別
  • 作物タイプ別
  • 企業別
  • 地域別
• 製品市場マップ

第6章 アジア太平洋のフミン系バイオ刺激剤市場展望

• 市場規模と予測
  • 金額別
• 市場シェアと予測
  • タイプ別
  • 用途別
  • 製剤別
  • 作物タイプ別
  • 国別
• アジア太平洋：国別分析
  • 中国
  • インド
  • 韓国
  • 日本
  • オーストラリア

第7章 欧州のフミン系バイオ活性剤市場展望

• 市場規模と予測
  • 金額別
• 市場シェアと予測
  • タイプ別
  • 用途別
  • 製剤別
  • 作物タイプ別
  • 国別
• 欧州：国別分析
  • フランス
  • ドイツ
  • 英国
  • イタリア
  • スペイン

第8章 北米のフミン系バイオ活性剤市場展望

• 市場規模と予測
  • 金額別
• 市場シェアと予測
  • タイプ別
  • 用途別
  • 製剤別
  • 作物タイプ別
  • 国別
• 北米：国別分析
  • 米国
  • メキシコ
  • カナダ

第9章 南米のフミン系バイオ刺激剤市場展望

• 市場規模と予測
  • 金額別
• 市場シェアと予測
  • タイプ別
  • 用途別
  • 製剤別
  • 作物タイプ別
  • 国別
• 南米：国別分析
  • ブラジル
  • アルゼンチン
  • コロンビア

第10章 中東・アフリカのフミン系バイオ刺激剤市場展望

• 市場規模と予測
  • 金額別
• 市場シェアと予測
  • タイプ別
  • 用途別
  • 製剤別
  • 作物タイプ別
  • 国別
• 中東・アフリカ：国別分析
  • 南アフリカ
  • サウジアラビア
  • アラブ首長国連邦
  • クウェート

第11章 市場力学

• 促進要因
• 課題

第12章 市場動向と発展

• 最近の動向
• 合併と買収
• 製品開発

第13章 競合情勢

• UPL Ltd.
• FMC Corporation
• Bayer AG
• Valagro S.P.A
• Haifa Group
• SIKKO Industries Limited
• BORREGAARD
• Koppert Biological Systems
• Biolchim SPA
• NOVIHUM technologies Gmbh

第14章 戦略的提言

Global Humic-based Bio Stimulants Market is expected to grow with an impressive CAGR in the forecast period 2024-2028. The market for humic-based bio stimulants is growing due to the increasing popularity and demand for organic pesticides in crop development, as well as the growing investment and research in the development of bio-stimulants.

Bio stimulants increase a plant's capacity to withstand stress when exposed to conditions of drought or illness. In addition to promoting greater plant growth, it is beneficial for the plants to increase their capacity for water absorption. Humic-based biostimulants are products derived from humic substances, which are natural organic compounds found in soil, peat, and other organic matter. These substances are rich in humic acid, fulvic acid, and humin. Humic substances possess water-holding capacity and help in maintaining the pH of the soil, thereby inducing plant growth. They also aid the plant by stabilizing soil moisture and temperature, thus offering suitable conditions for the uptake of nutrients and supporting plant growth. It is anticipated to create a huge market demand for Humic-based bio stimulants.

Rising Demand for Organic or Bio-Based Stimulants

The growing demand from consumers and farmers to substitute synthetic stimulants with organic and bio-based stimulants is propelling the market growth for humic-based biostimulants. Increasing consumer demand for bio-based produce, such as crops, oil & seeds, pulses, fruits & vegetables, etc., is creating a huge demand among farmers for these natural crops, stimulating and improving pesticides. Additionally, by improving nutrient retention and reducing leaching, humic-based biostimulants help increase nutrient availability for plants. Humic substances contribute to soil aggregation, improving soil structure and stability. They enhance the soil's ability to retain water, increase aeration, and prevent erosion. This promotes root development and nutrient uptake by plants. Also, several companies launched their new range of bio-stimulants designed for organic farming approach. For instance, in 2021, UPL Australia announced a new launch of their new range for bio stimulants based on GoActiv technology (technology based on 100% pure extract from the Ascophyllum nodosum-a seaweed species), formulated to address specific crop abiotic or physiological stress in fruits, vegetables, tree crops, etc.

Increasing Research & Development for Promoting Organic Farming

Products are launched by several key market players, including biostimulant ingredients such as humic acids to promote plant growth. Ingredients such as humic acids and fulvic acids are used in plant germination for stimulating plant metabolic processes and seed germination, thereby stimulating crop production and supporting market growth at the same time. Humic acids have been shown to improve plants' ability to withstand various abiotic stresses, such as drought, salinity, and temperature extremes. They act as stress protectants by enhancing antioxidant activity, regulating plant hormone levels, and reducing oxidative damage. The new approach accepted by major market players also includes chelating their bio stimulants with various minerals. Additionally, leading companies started partnerships benefiting each other and finding innovative solutions to produce new bio stimulants, thereby supporting the growth of the Humic-based bio stimulants market. For instance, in July 2019, Valagro established a research partnership with Marrone Bio Innovations (US) to share mutual technical and research benefits for production that can flourish in challenging environments, grow more vigorously, and have superior root systems.

Growing Pesticide Demand in Developing Countries

Rapid soil degradation is leading to diseases occurring in plants, which is impacting the soil environment and thereby reducing the natural soil availability for crop production. At the same time, it is creating a huge demand for bio stimulants to improve crop production by restoring the soil capacity. Humic substances support beneficial microbial activity in the soil. They provide a food source and habitat for beneficial soil microorganisms, including bacteria and fungi. This improves nutrient cycling, disease suppression, and overall soil health. Humic-based bio stimulants can be applied to plants through various methods, including foliar sprays, seed treatments, and soil amendments. They can be used in conjunction with fertilizers and other crop protection products to optimize plant performance and yield. Also, the growing usage of humic-based bio stimulant is found helpful in compensating for the shortage of food and its nutrients in crops grown using these bio stimulants.

For instance, countries such as India and China are experiencing an increase in demand for crop production to fulfill the increased food demand for the growing population, thereby creating a demand for bio stimulants such as humic acid, fulvic acid, etc., improving and ensuring healthy production without any pesticides.

Market Segmentation

The Humic-based Bio stimulants market is segmented based on the Type, Application, Formulation, Crop Type and Region. Based on Type, the market is segmented into Humic acid, Fulvic Acid and Potassium Humate. Based on Application, the market is segmented into Seed treatment, Soil treatment and Foliar spray. Depending on the Formulations, the market is further segmented into Liquid and Dry. Based on the Crop Type, the market is further segmented into Cereals & Grains, Oil Seeds & Pulses, and Fruits & Vegetables.

Recent Developments

In 2022, FMC Corporation, an agricultural sciences company, gets its acquisition with BioPhero ApS- a Denmark based research and production company. This acquisition adds biologically producing pheromone insect control technology to FMC's product portfolio and also expands the company's role in delivering sustainable and innovative crop production.

Market Players

UPL, FMC Corporation, Bayer AG, Valagro S.P.A, Haifa Group, Sikko Industries Limited, Borregaard, Koppert Biological Systems, Biolchim SPA, Novihum Technologies Gmbh, etc., are some of the major players operating in the global Humic-based Bio stimulants market.

Report Scope:

In this report, Humic-based Bio Stimulants market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Humic-based Bio Stimulants market, By Type:

• Humic Acid
• Fulvic Acid
• Potassium Humate

Humic-based Bio Stimulants market, By Application:

• Seed Treatment
• Soil Treatment
• Foliar Spray

Humic-based Bio Stimulants market, By Formulation:

• Liquid
• Dry

Humic-based Bio Stimulants market, By Crop type:

• Cereals & Grains
• Oil Seeds & Pulses
• Fruits & Vegetables

Humic-based Bio Stimulants market, By Region:

• North America
  • United States
  • Canada
  • Mexico

• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain

• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia

• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

• South America
  • Brazil
  • Argentina
  • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Humic-based Bio Stimulants market.

Available Customizations

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Humic-based Bio Stimulants Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Type (Humic Acid, Fulvic Acid, Potassium Humate)
  • 5.2.2. By Application (Seed Treatment, Soil Treatment, Foliar Spray)
  • 5.2.3. By Formulation (Liquid & Dry)
  • 5.2.4. By Crop type (Cereals & grains, oil seeds & pulses and Fruits & vegetables)
  • 5.2.5. By Company (2022)
  • 5.2.6. By Region
• 5.3. Product Market Map

6. Asia-Pacific Humic-based Bio Stimulants market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Type
  • 6.2.2. By Application
  • 6.2.3. By Formulation
  • 6.2.4. By Crop type
  • 6.2.5. By Country
• 6.3. Asia-Pacific: Country Analysis
  • 6.3.1. China Humic-based Bio Stimulants Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Type
      • 6.3.1.2.2. By Application
      • 6.3.1.2.3. By Formulation
      • 6.3.1.2.4. By Crop type
  • 6.3.2. India Humic-based Bio Stimulants Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Type
      • 6.3.2.2.2. By Application
      • 6.3.2.2.3. By Formulation
      • 6.3.2.2.4. By Crop type
  • 6.3.3. South Korea Humic-based Bio Stimulants Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Type
      • 6.3.3.2.2. By Application
      • 6.3.3.2.3. By Formulation
      • 6.3.3.2.4. By Crop type
  • 6.3.4. Japan Humic-based Bio Stimulants Market Outlook
    • 6.3.4.1. Market Size & Forecast
      • 6.3.4.1.1. By Value
    • 6.3.4.2. Market Share & Forecast
      • 6.3.4.2.1. By Type
      • 6.3.4.2.2. By Application
      • 6.3.4.2.3. By Formulation
      • 6.3.4.2.4. By Crop type
  • 6.3.5. Australia Humic-based Bio Stimulants Market Outlook
    • 6.3.5.1. Market Size & Forecast
      • 6.3.5.1.1. By Value
    • 6.3.5.2. Market Share & Forecast
      • 6.3.5.2.1. By Type
      • 6.3.5.2.2. By Application
      • 6.3.5.2.3. By Formulation
      • 6.3.5.2.4. By Crop type

7. Europe Humic-based Bio Stimulants Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Type
  • 7.2.2. By Application
  • 7.2.3. By Formulation
  • 7.2.4. By Crop type
  • 7.2.5. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. France Humic-based Bio Stimulants Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Type
      • 7.3.1.2.2. By Application
      • 7.3.1.2.3. By Formulation
      • 7.3.1.2.4. By Crop type
  • 7.3.2. Germany Humic-based Bio Stimulants Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Type
      • 7.3.2.2.2. By Application
      • 7.3.2.2.3. By Formulation
      • 7.3.2.2.4. By Crop type
  • 7.3.3. United Kingdom Humic-based Bio Stimulants Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Type
      • 7.3.3.2.2. By Application
      • 7.3.3.2.3. By Formulation
      • 7.3.3.2.4. By Crop type
  • 7.3.4. Italy Humic-based Bio Stimulants Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Type
      • 7.3.4.2.2. By Application
      • 7.3.4.2.3. By Formulation
      • 7.3.4.2.4. By Crop type
  • 7.3.5. Spain Humic-based Bio Stimulants Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Type
      • 7.3.5.2.2. By Application
      • 7.3.5.2.3. By Formulation
      • 7.3.5.2.4. By Crop type

8. North America Humic-based Bio Stimulants Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Type
  • 8.2.2. By Application
  • 8.2.3. By Formulation
  • 8.2.4. By Crop type
  • 8.2.5. By Country
• 8.3. North America: Country Analysis
  • 8.3.1. United States Humic-based Bio Stimulants Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Type
      • 8.3.1.2.2. By Application
      • 8.3.1.2.3. By Formulation
      • 8.3.1.2.4. By Crop type
  • 8.3.2. Mexico Humic-based Bio Stimulants Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Type
      • 8.3.2.2.2. By Application
      • 8.3.2.2.3. By Formulation
      • 8.3.2.2.4. By Crop type
  • 8.3.3. Canada Humic-based Bio Stimulants Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Type
      • 8.3.3.2.2. By Application
      • 8.3.3.2.3. By Distribution Channel

9. South America Humic-based Bio Stimulants Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Type
  • 9.2.2. By Application
  • 9.2.3. By Formulation
  • 9.2.4. By Crop type
  • 9.2.5. By Country
• 9.3. South America: Country Analysis
  • 9.3.1. Brazil Humic-based Bio Stimulants Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Type
      • 9.3.1.2.2. By Application
      • 9.3.1.2.3. By Formulation
      • 9.3.1.2.4. By Crop type
  • 9.3.2. Argentina Humic-based Bio Stimulants Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Type
      • 9.3.2.2.2. By Application
      • 9.3.2.2.3. By Formulation
      • 9.3.2.2.4. By Crop type
  • 9.3.3. Colombia Humic-based Bio Stimulants Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Type
      • 9.3.3.2.2. By Application
      • 9.3.3.2.3. By Formulation
      • 9.3.3.2.4. By Crop type

10. Middle East and Africa Humic-based Bio Stimulants Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Type
  • 10.2.2. By Application
  • 10.2.3. By Formulation
  • 10.2.4. By Crop type
  • 10.2.5. By Country
• 10.3. MEA: Country Analysis
  • 10.3.1. South Africa Humic-based Bio Stimulants Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Type
      • 10.3.1.2.2. By Application
      • 10.3.1.2.3. By Formulation
      • 10.3.1.2.4. By Crop type
  • 10.3.2. Saudi Arabia Humic-based Bio Stimulants Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Type
      • 10.3.2.2.2. By Application
      • 10.3.2.2.3. By Formulation
      • 10.3.2.2.4. By Crop type
  • 10.3.3. UAE Humic-based Bio Stimulants Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Type
      • 10.3.3.2.2. By Application
      • 10.3.3.2.3. By Formulation
      • 10.3.3.2.4. By Crop type
  • 10.3.4. Kuwait Humic-based Bio Stimulants Market Outlook
    • 10.3.4.1. Market Size & Forecast
      • 10.3.4.1.1. By Value
    • 10.3.4.2. Market Share & Forecast
      • 10.3.4.2.1. By Type
      • 10.3.4.2.2. By Application
      • 10.3.4.2.3. By Formulation
      • 10.3.4.2.4. By Crop type

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Recent Developments
• 12.2. Mergers & Acquisitions
• 12.3. Product Developments

13. Competitive Landscape

• 13.1. Company Profiles
  • 13.1.1. Business Overview
  • 13.1.2. Company Snapshot
  • 13.1.3. Products & Services
  • 13.1.4. Financials (In case of listed companies)
  • 13.1.5. Recent Developments
  • 13.1.6. SWOT Analysis
• 13.2. UPL Ltd.
• 13.3. FMC Corporation
• 13.4. Bayer AG
• 13.5. Valagro S.P.A
• 13.6. Haifa Group
• 13.7. SIKKO Industries Limited
• 13.8. BORREGAARD
• 13.9. Koppert Biological Systems
• 13.10. Biolchim SPA
• 13.11. NOVIHUM technologies Gmbh

14. Strategic Recommendations