Biostimulants Market Projected To Grow With Significant CAGR Over The Forecast Period

Biostimulants Market Projected To Grow With Significant CAGR Over The Forecast Period

Biostimulants are biological additives or biologically derived substances that can be used to improve the growth, productivity and overall health of plants. These biostimulants can improve the nutrients intake of plants; they do also help plants in facing abiotic stresses like excessive heat, excessive cold, excessive water or water scarcity. They do also help in improving the key attributes in crops like appearance, shelf life and nutritional value.

Biostimulants Market – Market Dynamics

The main growth factor for biostimulants market is the need to improve the crop yield per hectare in order to meet the food demand of growing population across the world. Other than this, there are also factors like ability of these biostimulants to help plants in facing abiotic conditions, government funding and grants in order to encourage the usage of biostimulants etc which are likely to give a thrust to the biostimulants market.

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Pulses, oilseeds and cereals as they are the major crops, they cover the maximum acres of land and thus are most likely to find the maximum application of biostimulants. Various governments across the globe and market players are adopting growth strategies like acquisition, joint collaboration, and agreements. One of the examples is the formulation of European agriculture biostimulants industry consortium to promote the usage of biostimulants, encourage green innovations and to promote sustainable agricultural production.

On contrary, high R & D cost and lack of awareness among farmers regarding the usage of biostimulants and their benefits likely to hamper the growth.

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Biostimulants Market – Segmentation

The biostimulants market can be segmented on the basis of product type, crop type, application and geography.

On the basis of the product type, the biostimulants market can be segmented into the following categories:-

• Acid-based

• Amino Acid
• Humic Acid
• Fulvic Acid

• Extract-based

• Seaweed Extracts

• Others

• Microbial Soil Amendments
• B-Vitamins
• Chitin & Chitosan

On the basis of crop, the biostimulants market can be segmented into the following categories:-

• Turf and Ornamentals
• Row Crops and Cereals
• Fruits and Vegetables

On the basis of application, the biostimulants market can be segmented into the following categories:-

• Seed
• Foliar
• Soil

Regional Analysis of the Biostimulants Market

On the basis of geography, the biostimulants market can be divided into five key regions. They are:-

• North America
• Europe
• Latin America
• Asia-Pacific
• Middle East and Africa

Among all the regions, Europe is the dominating mainly due to regular innovations in biostimulants. Few of these biostimulants are capable of improving the crop yield in countries like UK, Germany, France and Italy. Asia-Pacific is expected to be the fastest growing region in the forecasted period and major contributors will be countries like India, China, Japan and Korea. In Asia-Pacific, factors like adoption of organic farming and an increasing demand for better quality agricultural products are the major growth drivers.

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Key Players in the Biostimulants Market

Few of the key players in the biostimulants market are listed below:-

• Novozymes A/S (Denmark)
• BASF SE (Germany)
• Isagro SpA (Italy)
• Valagro SpA (Italy)
• Platform Specialty Products Company (U.S.)
• Italpollina SpA (Italy)
• Sapec Group (Portugal)
• Biostadt India Ltd (India)
• Koppert B.V. (the Netherlands)
• Biochim SpA (Italy).

The Biostimulants Market – key Developments

• July, 2017 – An agreement between Valagro and Syngenta to supply biostimulants for the seed treatment.
• February, 2017 – Launch of Equilibrium, a new biostimulant for fruit set and the start of fruit ripening by Bioiberica

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