Market Analysis
The global biostimulants market is likely to touch USD 6.65 billion at an 11.41% CAGR between 2020- 2030, reveals the new Market Research Future (MRFR) report. Biostimulants are materials that have substances or microorganisms which can be applied to plants for stimulating natural processes to foster their nutrient use efficacy prominently, tolerance towards abiotic stress, and boost their nutrient uptake.
Various factors are adding to the global biostimulants market share. These factors, as per the new MRFR report, include technological advances by key players, the need for supporting crop growth owing to abiotic stress resulting from the change in climatic conditions, and growing demand for high-value crops. Besides, growing demand for agro-products that are eco-friendly, reduction in the accessibility of arable land, and rising ecological concerns for surplus use of synthetic pesticides are also adding market growth.
On the contrary, lack of awareness and education among farmers regarding the usage of biostimulants may impede the global biostimulants market growth over the forecast period.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global biostimulants market based on application method, crop type, and ingredients.
Based on active ingredient, the global biostimulants market is segmented into amino acids, microbial amendments, seaweed extracts, humic substances, and others. Of these, the amino acids segment will lead the market over the forecast period.
Based on crop type, the global biostimulants market is segmented into oilseeds and pulses, cereals and grains, fruits and vegetables, and others. Of these, the cereals and grains segment will dominate the market over the forecast period.
Based on application, the global biostimulants market is segmented into seed treatment, soil treatment, foliar treatment, and others. Of these, the seed treatment segment will have a major share in the market over the forecast period.
Key Players
Eminent players profiled in the global biostimulants market report include FMC Corporation (US), Acadian Seaplants Ltd. (India), Koppert Biological Systems (Netherland), Biolchim SpA (Italy), Italpollina SpA (Italy), Bayer Ag (Germany), Valagro SpA (Italy), Isagro SpA (Italy), BASF SE (Germany), Agrinos AS (US), Arysta Lifescience Corporation (India), Eastman Chemical Company (US), Agriculture Solutions Inc. (Canada), China Daily Co., Ltd. (China), and Koppert B.V. (Netherland).
Regional Analysis
Based on region, the global biostimulants market report covers the recent trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will command the largest share in the market over the forecast period. Factors adding to the global biostimulants market growth in the region include the need for increasing crop quality and yield. Besides, burgeoning demand for organic food, strict regulations for the approval of agrochemicals, led by harmful impacts of chemical-based agro-products, and the region promoting the use of biostimulants for balancing the growth of the agricultural sector are also adding market growth.
The global biostimulants market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors adding to the global biostimulants market growth in the region include the adoption of modern agricultural technology like precision farming and organic-based active ingredients, use of commercial seaweed cultivation that offers healthy growth opportunities for the biostimulants industry, increasing use of biostimulants as it helps to enhance crop quality, nutrient efficiency, tolerance to abiotic stress, and nutrient uptake. India, Japan, China, and Indonesia are the key contributors in the region for the increasing adoption of biostimulants.
The global biostimulants market in Europe is predicted to have a healthy growth over the forecast period for the supportive regulations for increasing organic food production. However, in Western Europe, the slow growth of the agriculture sector may limit market growth. Besides, the presence of biofertilizers may also impede market growth by posing a substitution threat.
The global biostimulants market in the RoW is predicted to have sound growth over the forecast period.
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