The Global Market for Biostimulants is Projected to Reach US$2.5 Billion by 2022

Growing Need to Expand Agricultural Yield Drives Biostimulants Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry trends, growth drivers, market size, and demand forecasts on the global Biostimulants market. The global market for Biostimulants is projected to reach US$2.5 billion by 2022, driven by growing population and food demand, increasing focus on yield expansion, rising concerns on environmental impact of agricultural practices, increasing awareness among growers and emergence of effective and research-based products. 

Biostimulants are substances of biological origin which when applied to the soil, seed, plant or any other growing media, enhances the plant’s nutrient-using capability. These are products meant for inclusion in regular fertilization practices, and are neither fertilizers nor pesticides but natural plant growth regulators capable of rendering a positive impact on overall health of the plant when applied in small quantities. While biostimulants have been in use for several decades, research work in the area and use of research based products has been a recent phenomenon. Early stage products were either ineffective or spurious and delivered less than their claims, which restricted market growth. Drive towards sustainable practices in agriculture, growing regulations putting check on use of chemical fertilizers, increasing demand for organic foods and growing need to expand yield of crops are providing new momentum for biostimulants.

An emerging area in the agricultural economy, biostimulants find use in a wide range of applications in the area of horticulture and agriculture. Specific to the biostimulants industry, factors such as expansion of these products to new application and geographic areas are driving demand for biostimulants. New research-based products that deliver higher yield and other benefits are attracting growers to adopt biostimulants in their crops. From horticulture, the pioneering application, biostimulants are now being increasingly used in agriculture crops. With increasing stringency in regulations and growing crop prices, use of biostimulants has begun moving into row crops such as cereals and grains, oilseeds and pulses, although high-value crops still rule the roost.

Biostimulants market is still in early stages, and with lack of regulations and lower awareness, market size remains small. Lack of standard definition and regulations related to biostimulants in various markets are limiting prospects of biostimulants, as these factors fail to lift the confidence and adoption of farmers despite significant benefits they promise to offer for growers. However, regulatory clarity is already being taken up as a priority solution in the US and Europe, and the precedents set there are expected to set the momentum in other parts of the world. Further R&D efforts and product innovation, establishment of definitions and regulations, higher awareness of farmers, growth in targeted application and adoption in emerging markets are factors that play critical role in further growth of the market.

As stated by the new market research report on Biostimulants, Europe represents the largest market worldwide. Increasingly stringent regulations on use of chemical pesticides, and growing focus on yield enhancement and environmental friendly crop protection, and growing development of innovative biostimulants products are some of the factors driving growth in the market. However, Asia-Pacific represents the fastest growing regional market worldwide, with a CAGR of 12.3% over the review period. Increasing awareness among farmers, growing policy level support for adoption of environmental friendly agricultural inputs and the rising need to expand agricultural produce to address growing food needs are driving demand in the region. Segment-wise, acid-based biostimulants comprising humic, amino and fulvic acids, constitutes the largest product segment in the global biostimulants market.

Key players covered in the report include Agrinos AS, Arysta LifeScience Corporation, Atlántica Agrícola S.A., BioAtlantis Ltd., Biolchim S.p.A., Biostadt India Limited, Ilsa SpA, Isagro SpA, ITALPOLLINA SpA, Koppert B.V., Laboratoires Goëmar S.A.S., Lallemand, Inc., Leili Group, Micromix Plant Health Limited, Monsanto Company, Novozymes A/S, Omex Agrifluids Ltd., Syngenta AG, Trade Corporation International S.A. and Valagro Group among others.

The research report titled “Biostimulants: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Biostimulants in terms of US$ for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Product types analyzed include Acid-based Biostimulants (Humic, Amino and Fulvic), Extract-based Biostimulants and Other Biostimulants. The report also analyses the global market for Biostimulants by crop type- Ornamental & Turf, Row Crops and Other Crops.

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