Press release
Biostimulants Market to exceed $4bn by 2024
Necessity for sustainable farming practices along with resource scarcity including land and water supply will propel the biostimulants market growth. Positive outlook on rejuvenating degraded soil along with benefits including plant growth, improved nutrient uptake will facilitate product demand.
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.
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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.
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.
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.
Browse key industry insights spread across 280 pages with 306 market data tables & 13 charts & figures from the report, “Biostimulants Market Size, By Active Ingredient (Acid Based, Extract Based), By Application (Foliar Treatment, Soil Treatment, Seed Treatment ), By Crop (Row Crops, Turf & Ornamentals, Fruit & Vegetables), By Form (Dry, Liquid) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Ukraine, Kazakhstan, Turkey, Bulgaria, Greece, Russia, China, India, Japan, Australia, Brazil, Argentina, Mexico, Saudi Arabia, Egypt, Tunisia, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biostimulants-market
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.
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.
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.
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.
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.
Global industry share is at budding stage. Tradecorp Nutri Performance, Evergrow, Artal Agronutrients, Seipasa SA, Valagro and Cairochem are the notable industry players. Mergers & acquisitions, supply agreements and joint ventures are the major strategies adopted by the multinational companies.
Biostimulants market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:
Biostimulants Market, By Active Ingredients
Acid based
Extract based
Others
Biostimulants Market, By Application
Foliar treatment
Soil treatment
Seed treatment
Biostimulants Market, By Crop
Row crops
Fruits & vegetables
Turfs & ornamentals
Others
Biostimulants Market, By Form
Dry
Liquid
The above information has been provided for the following regions and countries:
North America
U.S.
Canada
EU
Germany
UK
France
Italy
Spain
Russia
Ukraine
Kazakhstan
Turkey
Bulgaria
Greece
Asia Pacific
China
India
Japan
Australia
Latin America
Brazil
Argentina
Mexico
Middle East and Africa
Saudi Arabia
UAE
South Africa
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Biostimulants market expected to grow significantly
The necessity for sustainable farming practices coupled with the scarcity of resources including water supply and land availability will propel the biostimulants market growth. Emphasis on revitalizing degraded soil along with advantages including improved nutrient uptake and plant growth will facilitate product demand over the forecast timeline. Biostimulants Market size is estimated to exceed USD 4 billion by 2024; according to a new research report by Global Market Insights, Inc.
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