29 November 2019
Visiongain’s new report Biostimulants Market Report: Forecasts by Crop Type (Fruits & Vegetables, Cereals & Grains, Turf & Ornamentals, Oilseeds & Pulses, Other Crops), Application (Foliar Treatment, Soil Treatment, Seed Treatment), Form (Liquid, Dry), Active Ingredient (Acid Based, Seaweed Extracts, Microbial, Humic Substances, Others), by region and analysis of leading companies operating in this industry.
The global biostimulants market was valued at over USD 2.5 billion in 2018 and is anticipated to grow at a CAGR of over 13% during the forecast period from 2020 to 2030. The growth of the biostimulants market is anticipated to grow significantly due to the rising demand for eco-friendly agro-products worldwide. Biostimulants serve as an effective tool for sustainable agricultural product production.
Factors such as growing ecological concerns resulting from excessive usage of synthetic pesticides, decreasing arable land, growing demand for higher-value crops and growing adoption of environmentally friendly agro-products are anticipated to foster growth in the global market for biostimulants over the forecast period from 2020 to 2030.
Biostimulants are added to soil, crops, seeds, and other substrates to promote natural plant processes aimed at improving plant nutrient performance. Biostimulants improve plant performance, crop yield, and abiotic stress sensitivity.
Frequent field plowing and increased use of chemical-based fertilizers has resulted in soil degradation. In the near future, growing populations and their changing patterns of consumption are likely to create a significant demand for food, thus pressuring existing arable land resources.
Biostimulants serve as an environmentally friendly solution that not only enhances the crop yield quality and quantity but also enriches the soil's structure and nutritional value. Therefore, a decrease in the supply of arable land is anticipated to present major opportunities in the near future to the global market for biostimulants.
Due to significant growth potential, the growing interest of investors has led to multiple developments in the industry. Factors such as cost-effective alternatives incorporation and improved accessibility would drive the growth of the biostimulants industry. Also, due to the development of regulatory frameworks for environmental protection, biostimulants would significantly penetrate the agriculture industry.
In 2018, the Europe biostimulants market accounted for more than 30% due to the increased demand for agricultural products and increasing consumer habits for organic products. With increasing government intervention & guidance and increasing demand for sustainable agriculture, the market is anticipated to continue to experience substantial growth in Europe.
Asia Pacific is anticipated to grow with the highest CAGR over the forecast period. Countries like China, India, and Australia have highly diverse levels of income, food consumption, and purchasing power, and are anticipated to contribute significantly to the growth of the industry.
The global market for biostimulants is highly fragmented, with numerous small and medium-sized companies and a few big players, resulting in intense market competition. The growth of regional markets and local players in various parts of the world is the major factor in the market's fragmented existence. North America and Europe are the two regions with the highest level of competitive activity.
Some of the key Biostimulants market players include Acadian Seaplants Limited, Adama, Agroenzymas Group, Arysta Lifescience Corporation, Atlántica Agricola, BASF, Bayer, Biostadt India Ltd, Biovert-Manvert, Brandt Consolidated Inc., Eastman Chemical Company, FMC Corporation, Haifa Group, Ilsa SpA, Isagro SpA, Italpollina SpA, Koppert Biological Systems, Micromix Plant Health Ltd, SAPEC, Tradecorp International among other prominent players.
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