San Francisco, 20 November
2018: According to a report published by Grand View Research,
Inc.; the global biostimulants market is projected to reach around USD 4.14 billion by 2025. Rising efforts
to improve agricultural productivity through sustainable methods is anticipated
to propel market over the forecast period (2014 to 2025). High adoption of
organic farming is expected to further support growth in the forthcoming years.
Rise in degradation and
pollution of soil and negative environmental effects caused by extensive use of
chemical pesticides and fertilizers are expected to fuel market growth. Biostimulants
are highly preferred in organic farming due to their environment-friendly
nature. These products improve antioxidant activity, root development, and cell
enlargement of plants without negatively affecting plant surrounding. This
leads to overall improvement of plant health. Rising adoption of the product to
avail these benefits is expected to drive demand. However, introduction of
biofertilizers is expected to challenge growth in near future.
The 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
categorized into acid based, seaweed extracts, microbial, and others. The
acid-based segment dominated the market in 2016. Products in this segment include
fulvic, amino, and humic acids, which plays a crucial role in overall plant development.
Seaweed extracts segment is projected to display notable growth during the
study period. These extracts comprise plant growth substances such as auxins,
gibberellins carbohydrates, and cytokinins. They also have several nutritive
metals like iron, nitrogen, aluminum, potassium, and manganese.
Access
Research Report of Biostimulants
Market@ www.grandviewresearch.com/industry-analysis/biostimulants-market
On the basis of crop type, the
market can be classified into row crops and cereals, fruits and vegetables,
turf and ornamentals, and others. The row crops and cereals segment held the largest
market share in 2016. The segment is anticipated to continue leading the
overall market throughout the forecast period owing to increasing demand for organic
cereals. Application in the production of turf and ornamentals is anticipated
to support segment growth in the forthcoming years.
As per application, the market
for biostimulants can be trifurcated into foliar, seed, and soil. The foliar
segment is anticipated to expand at the highest revenue-based CAGR of 12.3% over
the forecast period. The seed segment is also expected to showcase significant
growth in the forthcoming years. Seed treatment is one of the most cost-effective
applications compared to traditional spraying practices. This factor is
anticipated to bode well for demand over the forecast period.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Central and South America,
and Middle East and Africa. Europe is projected to be the largest
revenue-generating region and is expected to remain dominant throughout the forecast
period. This growth can be attributed to presence of supportive policies to
improve yield of organic foods. However, sluggish agricultural growth in Western
Europe is expected to regional growth to an extent.
Asia Pacific is poised to
exhibit the fastest CAGR over the forecast period. This growth can be accredited
to the presence of agriculture-driven countries such as China, India, and
Australia. Diverse income levels, dependency on agriculture as the source of
income, and changing spending and food consumption habits are also expected to
create lucrative growth opportunities in the regional market.
Prominent companies operating
in the biostimulants market include Italpollina SAP, Valagro SpA, Biolchim
S.P.A., Isagro Group, and Biostadt India Limited. Most companies are emphasizing
on providing customized product solutions suitable for specific type of crop and
soil. They are also focusing on spreading awareness among consumers to strengthen
their market position.
Market players are also implementing backward and forward
integration to improve profit margins and to gain high trading power. This is
expected to increase the competition in the market. Rise in research and
development (R&D) activities along with expansion of product range is
expected to intensify competition among the players through 2025. Emerging
countries, especially from Asia Pacific; are expected to create several business
opportunities for market participants
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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