A plant biostimulant is a microbial substance that has the ability to facilitate plant growth. Although not aiding in cases of nutrient deficiency, the biostimulants can amplify the nutrient accessibility, water retaining capability, kinetics related to the metabolism, and the chlorophyll production rate.
The global biostimulants market is estimated to grow with 12.22% CAGR by millions and 10.80% by thousand hectares during the year 2019-2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027.
The increasing demand for organic food and the benefits such as higher yields and productivity rate are primarily driving the global biostimulants market. Biostimulants are used in row crops to increase the overall productivity by modulating expansion, division, cell metabolism, as well as improving the transfer of nutrients and sugars apart from transport and lipid biosynthesis.
The restraints and challenges for the biostimulants market are low awareness and lack of regulatory standardization. Even though biostimulants improve the overall health of the agricultural land, by providing the plants a natural habitat to grow, their levels of adoption and acceptability throughout the globe are still low. The usage of plant biostimulants is still in its nascent stage, mainly due to the low awareness among farmers about its effectiveness.
Geographically, the global biostimulants market has been segmented on the basis of four major regions, which are North America, Europe, Asia Pacific and the remaining nations forming the Rest of World regional segment.
Europe is the largest region for biostimulants market. Biostimulants are widely utilized in Europe as they stimulate natural processes in plants to enhance crop quality, nutrient uptake, tolerance to abiotic stress, and nutrient efficiency. Countries such as the UK, Germany, France, Spain, and Italy are major contributors to the revenue of this region.
Biostadt India Ltd., Arysta LifeScience Corporation (acquired by UPL), Italpollina SpA, Brandt Consolidated Inc., Micromix Plant Health Ltd., OMEX Agrifluids Ltd., Agroenzymas Group, Atl?ntica Agricola, Lallemand Plant Care, Isagro SpA, Valagro SpA, Agrinos AS, Eastman Chemical Company, Isagro Group, Tradecorp International, and Koppert B.V. are the major companies associated with the market which have been thoroughly summarized in the report.