Global Biostimulants Market is estimated to reach $3,878 million by 2024; growing at a CAGR of 10.8% from 2016 to 2024. Biostimulants are formulations derived biologically, that are used to apply to plants to improve the physiological processes of crops. These formulations are applied to plants, seeds, soil, or media, so as to enhance the plant’s ability to adapt the nutrients and improve the yield. Use of biostimulants also contributes to the conservation of soil after the cultivation. Moreover, it is being widely used in global agricultural production to overcome the challenge modeled by mounting demand for food, due to continuous growth in world population.
The factors propelling the growth of the global biostimulants market are rising need for sustainable method to enhance crop produce, decreasing agricultural land, growth in organic food industry, and rise in abiotic stress. Though, absence of adequate regulatory framework, and little awareness among farmers would pose challenge for the market growth. Additionally, market expansion, and increasing demand for cost-effective substitutes would create growth opportunities in years to come.
The key segmentations of global biostimulants market includes active ingredients, crop type, application, and geography. Active ingredient type is bifurcated into amino acid, seaweed extracts, humic substance, fulvic, vitamins, and others. Crop type comprises of turf and ornaments, raw crop, fruit and vegetables, and others. Furthermore, application includes soil, foliar, and seed.
Based on geography, biostimulants market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, Spain, and others. Asia-Pacific is segmented into China, Japan, India, Australia, and others, while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in this market includes Valagro S.p.A., Novozymes A/S, Biolchim SpA, Italpollina SpA, BASF SE, Platform Specialty Products Corporation, Arysta LifeScience Limited, Koppert B.V., ILSA S.p.A, and Bayer AG, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Biostimulants Market with respect to major segments such as active ingredient, crop type, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Biostimulants Market has been included in the report
- Profile of the key players in the Global Biostimulants Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Biostimulants Market
Active Ingredients Segments
- Amino Acid
- Seaweed Extracts
- Humic Substance
- Other Active Ingredients
Crop Type Segments
- Turf and Ornaments
- Raw Crop
- Fruit and Vegetables
- Other Crop Types
- North America
- ·South America
- ·Middle East