Market Research Future published a half cooked research report on global Biostimulants market which is estimated to grow more than 10% after 2023.
A plant biostimulant is biological substance or extracts used as plant supplements with the aim to enhance nutrition efficiency, abiotic stress tolerance and others, regardless of its nutrients content. Furthermore, plant biostimulants also designate commercial products containing mixtures of such substances and/or microorganisms.
Biostimulants are among some of the earliest agricultural inputs being used to improve crop performance and quality. Biostimulants complements conventional agriculture, providing crop nutrition and crop protection. Agricultural biostimulants include different formulation and use of various substance that are applied to plants, seed or soil in order enhance the physiological processes of crops along with improving crop productivity.
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The intensive use of fertilizers and agrochemicals in modern agriculture adversely affect the soil quality, gradually resulting in degradation of its physicochemical properties. Biostimulants restores and repair degraded agricultural soils and re-establish a productive soil ecosystem and rebuild a healthy and fertile soil. Biostimulants are considered chemical free and work exactly like fertilizers to boost plant growth and provide nutrition. This will lead to surge in sales of biostimulants across the globe. Rising consumer indulgence and consumer willingness to pay for natural and healthy products will fuel the demand of biostimulants. Hence globally, biostimulants market is growing at the rate of 10% during 2017 to 2023.
With the growing consumer awareness & their increasing interest in natural and organic food products, the demand for biostimulants will drive the market growth from 2017 to 2023. Also, manufacturers are investing in R&D and investigative activities to improve existing products and procedures in order to develop new products has boosted the sales of biostimulants. Biostimulants restores and repair degraded agricultural soils and re-establish a productive soil ecosystem and rebuild a healthy and fertile soil. Biostimulants also maintain the salinity and sustainability of soil for long-term use making it safe for soils and crops. These factors will play a key role in the growth of biostimulants market at the CAGR of 10% during 2017-2023.
Acid based biostimulant will dominate the market, followed by extract based biostimulants. Biostimulants are used for crop protection in organic farming; hence, its market demand is rising with growing popularity of organic food & beverage. Moreover, foliar treatment will dominate the market, followed by seed treatment. Growing internet users across the globe and rise in the popularity of e-commerce, key players are launching & promoting their product line on various e-commerce sites, newspaper so as to reach out to farmers in rural regions as well.
Key Players of Biostimulants Market:
- BASF SE (Germany)
- Sapec Group (Trade Corporation International) (Spain)
- Arysta Life Science Limited (Japan)
- Isagro S.P.A (Italy)
- Valagro S.P.A (Italy)
- Koppert B.V (The Netherlands)
- Italpollina (Italy)
Global biostimulants market is highly concentrated in Europe. APAC has huge potential for biostimulants, as there is rise in disposal income, increased in demand for organic food and beverages. Biostimulants manufacturers are focusing on expanding their product line by providing larger product line for various application such as seed treatments, soil treatment and others.
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.2.1 Research Objectives
2.3 Markets Structure
3 Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
3.5 Market Size Estimation
4 Market Dynamics
5 Market Trends
5.1 Trends in Supply/Production
5.2 Trends in Demand/Consumption
5.3 Emerging Markets (Supply & Demand)
5.4 Emerging Brands
5.5 Trade (Import-Export) Analysis
5.6 Innovations In Products/Process
5.7 Macroeconomic Indicators Analysis for Top 5 Producing Countries
The global biostimulants market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North American region has the major market share. The market is projected to grow at a steady pace in the review period. Asia-pacific will be the fastest growing region in the biostimulants market and high growth in emerging economies such as China, India, Japan, Australia, and the Latin American countries, offers ample opportunities for expansion to major players.
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