Global Biostimulants Market is expected to reach USD 3,040.3 million by 2022, supported by a CAGR of 12.7% during the forecast period of 2017 to 2022. The global biostimulants market is mainly driven by the growing need to increase crop yield and quality, growing organic farming and demand for organic food, and a wide range of benefits of biostimulants in crop production. Moreover, growing awareness about environmental safety with the use of biostimulants has further led the growth of biostimulants market globally. However, lack of education and awareness among farmers, and various challenges faced by new entrants and small players restraints the growth of biostimulants market. Also, unavailability of the standardized regulatory framework for biostimulants and scientific & technical challenges for the development of biostimulants challenges the growth of this market to some extent.
The global biostimulants market is mainly segmented by active ingredients (acid based, extracts based, microbial amendments, trace minerals and vitamins, and others), by application (foliar spray, soil treatment, seed treatment), by formulation (liquid formulation and dry formulation), and by crop type (row crops, fruits and vegetables, turfs and ornamental, others).
Acid-based biostimulants dominated the global biostimulants market, owing to their wide range of benefits to the plant, higher efficiency, and easy availability. However, extract-based biostimulants is expected to witness significant growth in the next 5-10 years. With their versatile functional characteristics, the application of biostimulants has been increasing significantly on row crops and fruits and vegetables.
Geographically, the global biostimulants market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. These regions are further analyzed at a country level with the detailed qualitative and quantitative analysis. Europe holds the major share in the global biostimulants market, followed by North America and Asia-Pacific region. The large share of this region is primarily attributed to the rising concern over harmful chemicals on the environment, increasing demand for organic food, rapid development & innovation in biostimulants, and presence of a large number of biostimulants providers. However, Asia-Pacific region possesses lucrative growth potential for the biostimulants market and is expected to witness the fastest growth during the forecast period. This is mainly attributed to its large area under agriculture cultivation, rising need to increase crop yield and quality with the growing population, increasing demand for organic foods, and various government initiatives to develop and increase application of biologicals in the region.
The key players in the global biostimulants market are BASF SE, Valagro SpA, Biolchim S.p.A., Marrone Bio Innovation, Monsanto Company (Part of Bayer), Trade Corporation International (Part of Sapec Group), Plant Health Care PLC, Syngenta (Subsidiary of ChemChina), Biostadt India Limited, Andermatt Biocontrol AG, BioWorks, Inc., Novozymes, Inc., Koppert B.V., Italpollina S.p.A., Micromix Plant Health Ltd., Arysta LifeScience Corporation (Subsidiary of Platform Specialty Products Corporation), FMC Corporation, Bioatlantis Ltd, Omex Agruifluids Limited (Subsidiary of Omex Group), Haifa Chemicals Ltd., Agrinos AS, Camson Bio Technologies Limited, Som Phytopharma India Limited, EuroChem Group AG, and SICIT 2000 SpA.
Key questions answered in the report-
Which are the high growth market segments in terms of active ingredients, mode of application, formulation, crop type, and regions/countries?
What is the historical market for biostimulants across the globe?
What are the market forecasts and estimates from the period 2015-2022?
What are the major drivers, challenges, opportunities and trends in the global biostimulants market?
Who are the major players in the biostimulants market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
What are the competitive landscapes and who are the market leaders by sub-region in the global biostimulants market?
What are the recent developments in the global biostimulants market?
What are the different strategies adopted by the major players in the global biostimulants market?
What are the geographical trends and high growth regions/ countries?
Who are the local emerging players in the global biostimulants market and how do they compete with the global players?
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