Market-Overview
The global Biostimulants industry is witnessing a significant rise in its revenues over recent years. Market growth is majorly driven by the increasing awareness about benefits that biostimulants can offer in farming. Besides, the rising applications of Biostimulants have widened the scope of growth in the biostimulant market. Moreover, the increasing ecological concerns triggered due to the excessive usage of synthetic pesticides are accelerating the market growth on the global platform.
According to Market Research Future (MRFR), the global Biostimulants industry is expected to reach a value of USD 3.77 billion by 2023, registering 11.09% CAGR throughout the forecast period (2017-2023). Rising demand for increased crop production, alongside the scarcity of water and arable land, is estimated to promote the growth in the biostimulant industry. Also, the rising demand for eco-friendly agro-products across the world is anticipated to expand the growth of the market during the forecast period.
Key Players
Players leading the global Biostimulants industry include Koppert B.V. (Netherland), China Daily Co., Ltd. (China), Agriculture Solutions Inc. (Canada), Eastman Chemical Company (US), Arysta Lifescience Corporation (India), Agrinos AS (US),BASF SE(Germany), Isagro SpA (Italy), Valagro SpA (Italy), Bayer Ag (Germany), Italpollina SpA (Italy), Biolchim SpA (Italy), Koppert Biological Systems (Netherland), Acadian Seaplants Ltd. (India), and FMC Corporation (US), among others.
Market Segmentation:
The report is segmented into four market dynamics;
By Active Ingredients : Humic Substances, Seaweed Extracts, Microbial Amendments, Amino Acids, and others.
By Crop Type : Fruits & Vegetables, Cereals & Grains, Oil Seeds & Pulses, and others.
By Application Method : Foliar Treatment, Soil Treatment, Seed Treatment, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
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Regional Analysis
North America dominates the global Biostimulants industry. The largest market share attributes to the increased usages of biostimulants to improve crop yield and quality in the region. The region witnesses an increasing demand to improve crop yield and quality to meet the rising need for food due to the ever-growing population.
Besides, factors such as stringent regulations imposed against the use of agrochemicals, led by harmful effects of chemical-based agro-products, drive the regional market growth. Also, the growing demand for organic food, alongside the government initiatives to promote the usage of biostimulants, boosts the market demand in the region. The North American Biostimulants industry is expected to retain its leading position over the global market throughout the forecast period.
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Biostimulants Market is anticipated to reach USD 4.14 billion by 2025.
Biostimulants imply biologically produced fertilizers that are used to stimulate plant productivity and development.
They are also used for nourishment of agricultural products.
These nourishments help in facilitating nutrient assimilation, translocation, and improve soil productiveness mostly by stimulating the growth of interdependent soil microorganisms.In addition, the factors that drive the growth of the market include rapid development in the Biostimulants industry, expansion of the organic food industry, benefits such as enhanced agricultural productivity and yield, increasing support from the government.
The market may be explored by active ingredient as Seaweed extracts, Humic substances (humic acid and fulvic acid), Microbial amendments, Vitamins & amino acids, Trace minerals and Other ingredients & additives (polysaccharides, antioxidants soil conditioners, enzymes, and wetting agents).
The market may be explored by Crop Type as Turfs & ornamentals, Row crops (cereals, oilseeds, and pulses), Fruits & vegetables, and Other crops (plantation crops, forage grasses, fiber crops, and hydroponics).
