Biostimulants Market by Type, Application and Active Ingredient - Industry Research Report 2023

Market Overview:

The need to significantly increase plant yields around the world has been a crucial driving factor for the development of the industry.  The focus on improving crop yields due to declining quality and pollution levels that are being observed around the world are driving the need for biostimulants in the agriculture sector. The growing trend of farming organically which has spread around the world has also generated a considerable degree of interest in the industry. This factor will ensure development of the sector through the forecast period.

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Competitive Analysis:

The products that are being focused on to capitalize the vigorous pace of technological discoveries have led to extensive changes. This particular trend has amplified the affinity for diversification in the sector, which has indirectly enabled the players to use the beneficial state of dealings obtainable in this market. The utilization of these opportunities by contenders, who are trying to nurture their industry share by intensive development can inspire the growth of this business sector. The companies are also additionally trying to capture and create economic worth together in a proper manner. This has raised the potential for the approaching growth period considerably. This state has also been known to be productive for companies so they can fix goals that can keep up their enterprise's liquidity viable enough to take effective choices in terms of strategy designing and implementation.

The prominent industry players in the biostimulants market globally are Italpollina (Italy), Sapec Group (Trade Corporation International) (Spain), BASF SE (Germany), Isagro S.P.A (Italy), Arysta Life Science Limited (Japan), Valagro S.P.A (Italy) and Koppert B.V (The Netherlands).

Industry Updates:

March 2018 BioConsortia Inc, which is an innovator of microbial solutions for natural plant trait yield improvement and enhancement, has recently closed an additional round of equity financing to back its sustained growth, development of superior products and research achievements. The $10 million round was led by Otter Capital and backed by Khosla Ventures, both of whom are long-term backers of the biotechnology firm and skilled agri tech investors. The corporation has made a great deal of development in product development, for both biopesticides and biostimulants, along with recognition from their investors.

Industry Segments:

The biostimulants industry on the basis of type has been segmented into synthetic and natural, natural biostimulant will lead the market as the demand for clean label and organic food product is on the rise since the past few recent years. The segment of crop type in the biostimulants industry includes row crops, turfs & ornaments, fruits & vegetables among others, the row crop segment will control the industry and will grow at a CAGR of 10.9 percent. The application basis segments the market into foliar treatment, seed treatment and soil treatment. The active ingredients segment of the industry is segmented into extracts, acid based and others, extract based biostimulants will be the top growing segment during the forecast period. The acid based ingredients segment includes fulvic acid, humic acid and amino acid. On basis of extract based ingredients, the industry includes plant, microbial and seaweed category.

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Regional Analysis:

The biostimulants industry globally is segmented into Europe, North America, Asia Pacific, and rest of the world (ROW). Among these regions, the European region controls the industry and will develop at a CAGR of 11.22 percent. The Asia-pacific region will be the fastest growing region in the biostimulants industry. The high growth rate in emerging economies such as Australia, India, Japan, China and the Latin American nations, offers plenty of opportunities for growth to the major players. The escalating demand in Asia-Pacific and Latin America for organic and clean label beverages & food in developing markets, such as India and China will be a crucial factor emphasizing the growth of the market.

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This release was published on openPR.