Focus on Sustainable & Safe Agriculture, Increasing Demand for Organic Foods & Emphasis on Food Security to Drive the Global Biostimulants Market
The global Biostimulants market is
projected to reach US$3.1 billion by 2024, driven by growing need to enhance agricultural
output to meet the needs of growing global population, as well as the trend of
increasing consumption of organic foods across the world, and other factors
such as 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.
The 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, the Europe represents the largest regional
market worldwide, followed by Asia-Pacific. Asia-Pacific region, driven by fast
growing markets such China and India, is forecast to emerge as the fastest
growing market with a CAGR of 12% over the analysis 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. On
the other hand, Extract-based Biostimulants constitute the fastest growing active
ingredients.
Major players in
the market include Agrinos AS, Arysta LifeScience Corporation, Laboratoires Goëmar
SAS, Atlántica AgrÃcola SA, BioAtlantis Ltd, Biolchim S.p.A., Biostadt India
Limited, Ilsa S.p.A., Isagro S.p.A., ITALPOLLINA S.p.A., Koppert B.V, Lallemand
Inc., Leili Group, Micromix Plant Health Limited, Novozymes A/S, Omex
Agrifluids Ltd., Syngenta AG, Trade Corporation International S.A., and Valagro
Group among others.
The
research report titled "Biostimulants - Market Analysis, Trends, and Forecasts" announced by Global Industry Analysts
Inc.,
provides a comprehensive review of market trends, growth drivers, innovations
and launches, and strategic industry activities various players. The report
provides market estimates and projections in in US$ Million for Biostimulants for
major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific,
Latin America and Rest of World. Active ingredients 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.
Global
Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights
Reserved.
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
For cutting edge analyst
reviews on top industries
Follow
us on Twitter;
Connect with us on LinkedIn
Comments
Post a Comment