Agricultural Biostimulants in Turf & Ornamentals Market

Thursday 21 May 2015, Amsterdam

Biostimulants are among the most effective ways to enhance crop productivity and improve quality of yield. Although these are used on almost all crops, certain crops that are more preferred in organic farming and exports cannot be expected to be grown at a significant yield protection and with chemical residues. Some key crops using biostimulants most predominantly include salad crops, such as leafy vegetables; field crops, such as maize/corn, soybean, cotton, turf and forage grasses, ornamentals; and vegetables, such as potato, melons, tomato, and canola.

The biostimulants in turf & ornamentals market in Latin America is expected to grow at the fastest CAGR during the forecast period, 2014 to 2019, among all the major regions in the global market. Brazil and Argentina are expected to be the major countries contributing to the growth from 2014 to 2019 in the region. This region is comparatively a smaller market for lawns & gardens, due to geographic and cultural conditions and consumers’ tendency to spend less. However, eventual growth in income levels is expected to propel the demand of having luscious surroundings, thereby driving the growth of turf & ornamentals biostimulants market in Latin America.

The Europe is dominating the global biostimulants market with the largest market share, among all regions, having constituted 44.6% of the global market in 2014. Europe also accounts for the world’s major gardens, parks, and sports areas, thus driving the demand for biostimulants in turfs & ornamentals in the region. The spending capabilities of consumers and rampant economic conditions in the European region are the other major factors driving the huge demand for biostimulants in turf & ornamentals.

Biostimulants in turf & ornamentals are one of the fastest-growing segments, among biofertilizers. Some of the major factors driving the growth of the global market include promising results in yield; quality and productivity; the need to satisfy the rising demand for having an attractive environment around households and other constructions; and restoration of degraded soil in turfs & ornaments. Several companies such as Taminco (US), BASF SE (Germany), Novozymes A/S (Denmark), Isagro SpA (Italy), and Agrinos AS (Norway) are investing in this high-growth market in order to gain higher profits and increase their shares in the global biostimulants in turf & ornamentals market. 

The report provides a detailed description of the competitive landscape of the market, along with the various strategies adopted by the key market players towards increasing their shares and expanding their presence in the global market. Furthermore, the market has been comprehensively analyzed in terms of applications and regions, with the major regions considered being North America, Latin America, Europe, and Asia-Pacific. Some of the major applications of the market are foliar, seed, and soil.