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Rising Food Demand and Necessity to Improve Crop Productivity Driving Global Biostimulants Market Steadily: 12.8% CAGR Estimated till 2025
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Biostimulants are biologically produced fertilizers that are used to stimulate plant development and productivity, in addition to the nourishment of agricultural products. They help to increase nutrient availability, metabolism, water holding capability of the plants and increase production of chlorophyll and antioxidants. They can be used for ornamental crops, row crops, fruits, vegetables, and turf. It has been analyzed that enhancing land fertility while boosting crop yield makes the biostimulants preferable over its synthetic counterparts. As per the study key findings, the global biostimulants market is all set to expand at a strong CAGR of 12.8% from 2017 to 2025 to become worth US$5.93 bn by 2025 from US$20.05 bn in 2016.
In the first part, the report talks about the precise market overview, including a market snapshot which provides information of various segments and sub-segments. Based on market segmentation, the study analyzes its key applications, product type, and regions. The key application includes fruits and vegetables, cereals and grains, oilseeds and pulses, and others. Major product types in this market are Humic Acid, Seaweed, Vitamins, Amino acids, Fulvic Acid, Microbial stimulant and Biorationals. At present, the climatic changes worldwide have affected yields of different food and cash crops. To overcome this problem, farmers are increasingly resorting to biostimulants. Another factor stoking growth in the market is their easy availability.
Additionally, market size and forecast for each major product and application have been provided in terms of global and regional/country markets. Geographically, the key segments of the global biostimulants market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe, at present, dominates the market with maximum share. The emergence of innovative biostimulants that are highly effective in boosting yields has served to up demand in the region.
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The final section of the report deals with the competitive landscape which highlights the key players that are operating in the biostimulants market along with details such as business positioning, financial standing, and SWOTs. Key players in the biostimulants market include Agriculture Solutions Inc., Agrinos, Biolchim S.p.A., Novozyme, Kelpgrow, Premier Tech Ltd., Agricen, Koppert Biological Systems, Valagro, Syngenta, Italpollina spa, and others.
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