Biostimulants Market expected to reach US$ 2.3 Bn & ~ 11% CAGR through 2019-2029

The global biostimulants market is set to grow at a stellar CAGR of 11% during the forecast period (2019-2029), witnessing 3X growth in revenues. As projected by a new report of Future Market Insights (FMI), the growth of market is primarily fueled by the growing preference for bio-based ingredients in agrochemicals and crop growth additives, and a measurable rise in agricultural and horticultural production around the globe.

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Biostimulants Market: Key Findings

Acid-based active ingredients will remain the most sought-out ingredient type, owing to their efficiency in enhancing crop quality.
Horticulture-based crop produce will significantly boost consumption of biostimulants, owing to their effectiveness in microbial reactions in diverse fruits and vegetables.
Europe prevails as the leading regional market for biostimulants, backed by high adoption and favorable initiatives by administrations, thereby accounting for half of the global sales.
Asia Pacific will outpace other regions in terms of growth, and will account for significant chunk, owing to increasing adoption in the emerging economies of East Asia such as India and China.
Biostimulants Market: Key Driving Factors

Rising awareness regarding the side effects of conventional, synthetic crop fertilizers is pushing manufacturers in the biostimulants market.
The shrinking of fertilized lands, which is the fundamental challenge for the agricultural industry, is working in favor of the biostimulants market as the need to improve yield per unit area of cultivated land is higher than ever.
Biostimulants Market: Key Restraints

The sluggish growth of agriculture in developed economies is threatening the rapid growth of the market.
The presence of biofertilizers as an alternative will slightly affect the sales.
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Competition Landscape of Biostimulants Market

Some of the key players in the global Biostimulants landscape that are covered in this study include, but are not limited to, are Valagro SPA, Koppert B.V., Syngenta, BASF SE, UPL Corporation Limited, Novozymes, Isagro SPA, and FMC Corporation, among others. Market players are focusing on research & development activities and expansion of supply and distribution to stand out in the competition.

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BIOSTIMULANTS MARKET TAXONOMY

The global biostimulants market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Crop

Row Crops
Fruits & Vegetables
Turfs & Ornamentals
Other Crop Types
Application

Foliar
Soil
Seeds
Active Ingredient

Acid-based
Extract-based
Others (Including Microbial Amendments, Trace Minerals, etc.)
Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.