San Francisco,12 October 2018:
According
to a report published by Grand View Research, Inc.; the biostimulants
market is expected to reach a valuation of around USD 4.14
billion by 2025.
Increasing focus on improving
productivity using sustainable method along with rapid soil degradation are the
major factors can drive the market during the forecast period (2014 to 2025).
Growing trend of organic
farming is also expected to boost the product demand in the coming years.
Biostimulants are gaining popularity as an essential constituent in sustainable
agricultural practices. Increasing cases of environmental hazards and soil
pollution due to extreme use of chemical-based products on crops have been a
major issue. Biostimulants are considered as an effective alternative to
chemical-based agricultural products and are progressively replacing
chemical-based product due to their eco-friendly nature as well as better
performance.
However, development of
biofertilizers is likely to pose a substitution threat in the years to come.
Worldwide biostimulants market
can be segmented on the basis of active ingredient, crop type, application, and
region.
Based on active ingredient,
the market can be classified into acid based, seaweed extracts, microbial, and
others.
In 2016, The acid-based
segment estimated as the major segment. The segment include product based on
fulvic, amino acids, and humic. Amino acids are among crucial originators of
phytohormones and help in stimulating the metabolic systems of plants and seed
germination. They initiate fruit setting, pollination, flowering, and fruit
development in the plant. Humic substances are naturally obtained from
decomposition of microorganisms such as fungi and bacteria, and chemical
degradation of animal and plants residues in soils.
Access
Research Report of Biostimulants
Market@ www.grandviewresearch.com/industry-analysis/biostimulants-market
The seaweed extracts segment
is likely to display significant growth during the forecast period. They
consist of plant growth substances like auxins, gibberellins carbohydrates,
cytokinins and numerous nutritive metal essentials including iron, nitrogen, aluminum,
potassium, and manganese.
As per crop type, the market
can be split into row crops and cereals, fruits and vegetables, turf and
ornamentals, and others. In 2016, the row crops and cereals segment reported as
the leading segment and anticipated to follow same trend during the forecast
period. This segment includes soybeans, corn, oats, barley, cotton, and
millets. These crops are grown widely across the globe in large areas and offer
lucrative growth opportunities for the industry. In addition, increasing demand
for organic cereals is likely to support the segment growth.
On the basis of application,
the market can be bifurcated into foliar, seed, and soil. In 2016, foliar
segment dominated the market and is projected to expand at highest revenue-based
CAGR of 12.3% during the forecast period. North America holds the major portion
of this segment owing to its high adoption in agriculture sector as it offers
high-performance. Asia Pacific is also expected to create lucrative
opportunities for this segment due to growing adoption of sustainable farming
approaches in this region.
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Geographically, the market can
be divided into North America, Europe, Asia Pacific, Central & South
America, and Middle East & Africa. Europe is the leading market in terms of
the revenue and likely to dominate the market during the forecast period.
Supportive rule pertaining to adoption of organic farming is expected to
increase product demand in this region. However, slow growth of agriculture
segment in Western Europe is likely to restrain the market.
Asia Pacific is expected to
display significant growth during the forecast period due to existence of
several agriculture-driven countries such as China, India, and Australia.
Countries in this region are extremely different in terms of food consumption
habits, disposable income, and spending capacities. The agriculture sector in
the region is perceiving stable growth and the residents are mainly reliant on
farming business. This is likely to show lucrative gains in this region.
Prominent companies operating
in the market include Italpollina SAP; Platform Specialty Products Corporation;
Koppert B.V.; Biostadt India Limited; and Sapec Agro S.A.
Currently, the market is in
its developing phase and new participants as well as established players are
likely to get several opportunities in the emerging countries, specifically in
Asia Pacific.
Access
Press Release of Biostimulants Market@ www.grandviewresearch.com/press-release/global-biostimulants-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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