Global Biostimulants Market Revenue and Growth Rate Research By top key players: BASF SE, Biostadt India Limited, Valagro SpA, Novozymes A/S, Biochim SpA, Isagro SpA, and Koppert B.V.

Global Biostimulants Market Size:

According to Market Data Forecast, The Global Biostimulants Market was worth USD 2009.06 million in 2018 and estimated to be growing at a CAGR of 11.92%, to reach USD 3528.02 million by 2023. With scarcity of land and water, amplified importance is being put on the support of advanced tools that can help improve crop harvest. Biostimulant is an organic substance that considerably impacts plant health. It is used in small amounts in order to encourage plant growth, thereby enhancing crop return and quality.

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Plant hormones, microorganisms, trace elements, and enzymes are combined in specific amounts to make biostimulants. Hence, biostimulants cannot be characterized as fertilizers that are used to provide nutrients to plants with nutritional deficiencies. They increase nutrient availability, metabolism, and boost the production of chlorophyll and antioxidants.

The growth of the Global Biostimulants market is majorly driven by factors such as rising population, easy availability, and eco-friendly nature of biostimulants. Another key factor driving the market is climate change.

Regular deviations in climate due to global warming have resulted in instability in yields of several food and cash crops. This has led to a growing predilection towards the utilization of biostimulants by farmers. However, issues such as lack of awareness among the farmers in the developing countries and high R&D costs involved in this field are hindering the growth of the market.

Market Segmentation:

The Global Biostimulants market is segmented based on Active Ingredients, Application, and Crop Type. The market for Biostimulants, based on Active Ingredients, is classified into Fulvic Acid, Protein Hydrolysates, Seaweed Extracts, Amino Acid, Humic Acid, and Others. In this segment, humic acids and fulvic acids lead the global market for Biostimulants, accounting for more than 30% of the global market. However, seaweed extract is projected to be the fastest-growing segment due to the increasing demand from North American and European countries. Based on Application, the global Biostimulants market is segmented into Seed, Foliar, and Soil. The foliar technique of application is the most favoured for biostimulant supply, as it delivers ingredients in a much more direct manner when compared to the others. Based on Crop Type, the global Biostimulants market is segmented into Fruits & Vegetables, Cereals & Oilseeds, Turfs & Ornaments, and Others. Cereals & Oilseeds lead the global market based on Crop Type and this trend is expected to remain the same during the forecast period.

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Geographical Analysis:

The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Europe has been leading the global Biostimulants market followed by North America on account of rapid development of innovative biostimulants and huge investments in R&D. The Asia Pacific market is anticipated to be the fastest growing regional market due to rising awareness and preferences for biostimulants. Growing demand for biostimulants in countries such as Brazil and Mexico is anticipated to offer huge growth prospect for the market in the Latin America region.

Important strategies such as product expansions and investments have been implemented by the key players in the biostimulants industry. These companies are improving their capabilities by diversifying their commercial operations across the high-growth markets with efficient distribution systems.

Major Companies Dominating the Global Biostimulants Market are:

• BASF SE
• Biostadt India Limited
• Valagro SpA
• Novozymes A/S
• Biolchim SpA, Isagro SpA
• Koppert B.V

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Reasons to Purchase this Report:

• Current and future Global Biostimulants Market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• Identifying the segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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