The report, now available on ASDReports, "Biostimulants Market by Active Ingredient (Humic acids, Fulvic Acids, Seaweed, Microbials, Trace Minerals, Vitamins, and Amino acids), Application Method (Foliar, Soil, and Seed), Crop Type & by Region - Global Trends & Forecasts to 2021", The biostimulants market is projected to reach USD 2.91 Billion by 2021, at a CAGR of 10.4% from 2016 to 2021. The need for sustainable farming practices and the limited resources such as land and water, to meet the growing food requirements in the Asia-Pacific and Latin American regions, are projected to enhance the demand for biostimulants.
“Row crops are projected to provide a strong platform for the biostimulants market by 2021”
Row crops such as cereals, oilseeds, and pulses account for a larger share in the global cropped land and thereby, these crop segments are projected to cover a large scale of acreage for the application of biostimulants. Cereals such as wheat, corn, barley, and rice as well as oilseeds such as soybeans, sunflower, rapeseed, and cottonseed are projected to be a strong factor in supporting the market demand of biostimulants.
“Innovative product formulations from seaweed extracts and microbials are projected to boost the biostimulants market”
Among the key ingredients considered, seaweed extracts and microbial amendments are projected to be the fastest-growing segments. Earlier, seaweeds were mostly reared from coastlines and mostly procured from European seaweed processors. With the high growth of seaweed cultivation in the aquaculture farms of Southeast Asian nations such as Philippines, Thailand, and Indonesia, the concerns over raw material availability for seaweed extracts in manufacturing biostimulant formulations have been slowly diminishing. For nitrogen fixation and nutrient solubilization, microbial groups such as PGPR (plant growth-promoting rhizobacteria) and PSB (phosphate-solubilizing bacteria) are projected to become an important part of biostimulant formulations.
“Asia-Pacific region is projected to be the fastest-growing region in the biostimulants market”
The growth in the Asia-Pacific region is supported by the increasing demand to step up the productivity of intensely cultivated food crops such as rice, wheat, soybeans, and corn. Biostimulants not only enhance crop growth during harsh conditions in these regions but also improve the crop yield and quality. Government subsidies and awareness programs are also observed to support the establishment of these products for different crop types.
This report includes a study of marketing and development strategies, along with the product portfolio of key biostimulant manufacturers. It includes the profiles of leading companies such as BASF SE (Germany), Novozymes A/S (Denmark), Isagro SpA (Italy), Platform Specialty Products Company (U.S.), Valagro SpA (Italy), and Biolchim SpA (Italy). Other players include Sapec Group (Portugal), Koppert B.V. (the Netherlands), Biostadt India Limited (India), and Italpollina SpA (Italy).