Biostimulant is a diverse formulation of compounds, substances and micro-organisms used to improve crop yield, quality and tolerance of abiotic stresses. They can be applied either to plant or soil to foster plant growth and development throughout the crop life cycle from seed germination to plant maturity.
Biostimulants enhance soil fertility, particularly by fostering the development of complementary soil micro-organisms. Moreover, they are used to restore degraded soils by regulating soil pH and help in soil management. Inclination towards organic products among the rising population owing to negative side effects from chemical fertilizers will surge the market growth over the forecasted period 2017-2023. Globally the market for biostimulants is estimated to grow at the rate of about 10.92% from 2017 to 2023
The global biostimulants market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe is witnessed to dominate the market and will grow at a CAGR of 11.22%. However, Asia Pacific is projected to be the fastest growing region over the estimated period. India and China will be the major contributor for biostimulant market in this region.
The rising demand for organic and clean label food & beverages in emerging economies such as China, India, Japan, Australia, and the Latin American countries has opened doors for the market players in these regions.
Biostimulants market by type has been segmented into natural and synthetic, natural biostimulant will dominate the market as the demand for organic and clean label food product has increased in the recent years. On the basis of crop type, market is segmented into fruits & vegetables, row crops, turfs & ornaments and others, row crop will dominate the market and will grow at a CAGR of 10.9%. On basis of application, market is segmented into seed treatment, foliar treatment, soil treatment. On basis of active ingredients, market is segmented into acid based, extracts, and others, extract based biostimulants will be highest growing segment during the forecast period. On basis of acid based ingredients, market is segmented into humic acid, fulvic acid, amino acid. On basis of extract based ingredients, market is segmented into microbial, plant, seaweed.
The leading market players in the Global biostimulants market primarily are BASF SE (Germany), Sapec Group (Trade Corporation International) (Spain), Arysta Life Science Limited (Japan), Isagro S.P.A (Italy), Valagro S.P.A (Italy), Koppert B.V (The Netherlands), Italpollina (Italy)
- Biostimulants manufacturers
- Raw material suppliers
- End users
- Retailers & wholesalers
- E-commerce companies
- Traders, importers and exporters
- Natural Biostimulants is projected to dominate the market and will grow at a CAGR of 11.1%
- Foliar treatment will dominate the market and grow at a CAGR of 10.4%
- Europe will continue to dominate the Global biostimulant market followed by Asia Pacific during forecast period
- Acid based dominated the active ingredient market and humic acid dominated acid active ingredient market.
- Fruits and vegetables will grow at a higher CAGR of 11.14%
Regional and Country Analysis of Biostimulants Market Development and Demand Forecast to 2023 Market
As per the MRFR analysis, the Global biostimulants value market is poised to reach USD 3.77 Billion in 2023, to grow at a CAGR of 11.09% during the forecast period.
The reports also cover regional and country level analysis:
- ·Rest of Europe
- ·Rest of Asia Pacific
Rest of the world