Biostimulants Market – Overview
The increasing awareness regarding the need for sustainable agriculture, the market for biostimulants is growing significantly, worldwide. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Biostimulants Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR of 11.09% while achieving million dollar growth readily in the forecast period. As per the MRFR analysis, the Global Biostimulants value market is poised to reach USD 3.77 Billion in 2023.
Growing demand for organic products, technological advancement, and its efficiency in increasing crops’ productivity has accelerated the demand for biostimulants. Along with providing essential nutrients to plants, biostimulants also provide resistance to abiotic factors such as salinity, drought, low temperature, and transplant shock. It also reduce cracking in fruits and improve pollen germination
The need for increasing food production owing to rapidly rising global population will drive agriculture productivity. Also, the efforts being put for sustainable agricultural development, owing to increasing awareness regarding harmful health impact of pesticides, will spike the demand for the product. There is a huge demand for the product in emerging economies of Asia and Latin America, which is further fuelling the demand for the product. Therefore, biostimulants is set to become an important solution during the forecast period for increasing agricultural productivity.
Latest Industry Updates:
Nov 2017 Valagrointroduced new biostimulant product, namely Retrosal in Brazil market. The product helps in improving plant growth on saline soils. The company launched the product earlier in Spain, Ezypt, Mexico, and Italy markets. The product consists the combination of active ingredients that can improve crop nutrition under conditions of salt stress, which will help in enhancing crop productivity.
Apr 2017 Arysta LifeScienceintroduced three new biostimulants products, namely Multoleo, Zeal and Biozyme. Through, this the company expanded its biostimulants market in Romania. Multoleo and Zeal are based on Physio Activator Technology.
Feb 2017 Valagro launched new biostimulant product, namely YieldON in Ukraine. The product is to be used for row crop nutrition. The product will enhance the productivity of row crops such as corn, soybeans, wheat, rice, rapeseeds and others.
Apr 2016 BASF launched a new R&D center at the Crop Protection division’s headquarters in Limburgerhof, Germany. The center will house two promising research areas, namely biological crop protection and seed solutions. It will help BASF in accelerating its innovation potential beyond traditional crop protection.
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Biostimulants Market – Key Players and Competitive Analysis
The key players of the market are investing a significant amount in research and development for developing novel products in order to capitalize on the growing demand for the product. The companies are introducing various state of art technologies to gain an edge over competitors. The best long-term growth opportunities for this sector can be captured by following both organic and inorganic growth strategy. Acquisition and merger with smaller market players will help the company to expand the market in potential market.
The key players profiled in Biostimulants market are as ASF 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).
Biostimulants Market – Segments
The global biostimulants market has been divided into type, crop type, row crops, turf & ornaments, application, active ingredients, acid based ingredients, extract based ingredients
- On The Basis Of Type: Natural and Synthetic
- On The Basis Of Crop Type: Fruits & Vegetables, Row Crops, Turfs & Ornaments and others
- On The Basis Of Application: Seed Treatment, Foliar Treatment, Soil Treatment
- On The Basis Of Turf & Ornaments: Acid Based, Extracts, and others
- On The Basis Of Active Ingredients: Acid Based, Extracts, and others
- On The Basis Of Acid Based Ingredients: Humic Acid, Fulvic Acid, Amino Acid
- On The Basis Of Extract Based Ingredients Microbial, Plant, Seaweed
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Global Biostimulants Market – Regional Analysis
The global biostimulants market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these Europe regions dominates the market. 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. The rising demand for clean label food & beverages in growing economies of Asia-Pacific and Latin America, especially in China and India will be the major factor driving the market growth.
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