Press release
Biostimulants Market Forecast 2018-2024 | Key Players - Bayer, BASF, Lallemand, Arysta LifeScience, Valagro, Agrinos, Biostadt India Limited
Biostimulants Market
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Company Profiles
1. Bayer
2. BASF
3. Itallpollina
4. Biovert
5. Valagro
6. Koppert B.V.
7. Arysta LifeScience
8. Agrinos
9. Boilchim
10. Laboratories Goemar
11. Micromix Plant Health Limited
12. Lallemand
13. Cairochem
14. Evergrow-ايڤرجرو
15. Tradecorp International - Sapec Agrobusiness
16. Artal Agronutients
17. Ag Concepts Corporation
18. Daymsa
19. Penn State College of Agricultural Sciences
20. Biostadt India Limited
Foliar treatment dominated the application segment and generated over USD 1.4 million in revenue for 2016. High efficiency and ease in applying will remain key factors driving product penetration in this segment.
Rise in consumer spending on organic food along with increase in consumer affordability are key trending factors driving biostimulants market growth. Global organic food spending was over USD 85 million in 2016, increasing at over 17% every year.
Extensive R&D along with technological advancement owing to government subsidies on bio based products will encourage market penetration. However, low scope for patents due to easy raw material availability and lengthy product approval process may restrain the biostimulants market growth.
Extract based ingredients will see over 10% gains. Improving root growth and seed germination play vital role in fueling product demand. Other key ingredient includes and microbial, chitin & chitosan, and trace minerals.
Browse key industry insights spread across 280 pages with 306 market data tables & 13 charts & figures from the report @ www.gminsights.com/industry-analysis/biostimulants-market
Turf & ornamentals accounted for more than 11% of the industry share in 2016. Golf courses, commercial nurseries, sports turf, and home gardens are key potential application areas. Increasing consumer spending on leisure activities including gardening will drive the industry growth in this segment.
Liquid formulations are the fastest growing product form and was valued at more than USD 1.2 billion in 2016. High shelf life along with less production cost owing to ease in transportation & handling are the key factors driving product demand.
Row crops dominated the biostimulants market and will generate over USD 2 billion revenue by 2024. Strengthening crop protection during drought and intense heat has enhanced the biostimulants demand.
Europe biostimulants market accounted for over 36% of the overall industry share in 2016. Shift in consumer preference towards organic agro-products along with stringent food safety regulations are the factors fueling growth.
MEA will be worth more than USD 155 million valuation by 2024. Rising exports of non-traditional crops to U.S. and Europe will play a vital role in stimulating growth. Unsuitable climatic conditions including non-predictable drought, floods and intense heat are driving biostimulants demand.
Asia Pacific, led by China and India biostimulants market is the fastest growing region with growth over 12.5% through to 2024. High agricultural contribution in the economy has led to favorable government regulations promoting ecofriendly agricultural practices.
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