Biostimulants Market Demand Analysis, Size, Share, Trends, Top Key Player Like Koppert B.V, China Daily Co., Ltd, Agriculture Solutions Inc, Eastman Chemical Company, Arysta Lifescience Corporation, Agrinos AS

Market Scenario

Global Biostimulants Market is projected to grow with a significant growth rate of 11.09% from 2017 to 2023 and reach a market value of USD 3.77 billion by the end of 2023. The increasing awareness of benefits associated with biostimulants and their broad application on different types of crops have widened the scope of growth in the biostimulant market. Biostimulants help in developing microflora, which, in turn, improves nutrient uptake by plants, and they rise antioxidant activity and reduce plant stress against the environment and various diseases. The global biostimulants industry is anticipated to expand at a substantial growth during the forecast period, owing to the rising demand for eco-friendly agro-products across the world. Factors such as increasing ecological concerns led by excessive usage of synthetic pesticides, rising demand for higher-value crops, reduction in the availability of arable land are estimated to promote the growth of the global biostimulant industry during the forecast period.

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A biostimulant is a naturally derived additive or microorganism applied to crops to enhance nutrition efficiency, abiotic stress tolerance, and crop quality. Biostimulants are applied to plants such as fruits & vegetables, oilseeds & pulses, cereals & grains, and turfs & ornamentals. There are different methods to apply biostimulants to the plants, including foliar treatment, soil treatment, and seed treatment. During foliar feeding, biostimulants are used to parts that are visible above the ground and are considered an essential part of crop production, especially on horticultural crops. Soil treatment with biostimulants is provided to the degraded soil to enhance the soil quality for agriculture. Seed treatment aims to reduce disease development from seed-borne fungi, that are present within seeds, without affecting the viability and germination capacity of seed. There are numbers of active ingredients used in biostimulants such as humic substances, seaweed extracts, amino acids, microbial amendments, and many more.

Biostimulants Market Segmentation

The global biostimulants market has been segmented based on active ingredients, crop type, application method, and region.

By active ingredient, the market has been classified as humic substances, seaweed extracts, microbial amendments, amino acids, and others.

Based on crop type, the market has been segmented into fruits & vegetables, cereals & grains, oilseeds & pulses, and others.

By application method, the market has been categorized as foliar treatment, soil treatment, seed treatment, and others.

The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

The North American biostimulants market has further been divided into the US, Canada, and Mexico. The European biostimulants market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The biostimulant market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The biostimulant market in the rest of the world has been bifurcated into South America, the Middle East, and Africa.

Key Players

Koppert B.V. (Netherland)
China Daily Co., Ltd. (China)
Agriculture Solutions Inc. (Canada)
Eastman Chemical Company (US)
Arysta Lifescience Corporation (India)
Agrinos AS (US)

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Regional Market Summary

North America is expected to dominate the global biostimulants market during the forecast period. The application of biostimulants is increasing due to the requirement to increase crop yield and quality. Factors such as stringent regulations about approval of agrochemicals in the region, led by harmful effects of chemical-based agro-products, and growing demand for organic food is likely to boost the market for biostimulants during the forecast period. The North American region promotes the usage of biostimulants in order to balance the growth of the agricultural sector with other sectors of the economy.

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This release was published on openPR.