The report “Global Biostimulants Market, By Active Ingredients (Humic Substances (Humic Acid & Fulvic Acid), Seaweed Extracts, Microbial Amendments, Trace Minerals, and Vitamins & Amino Acids), By Form (Dry and Liquid), By Crop Type (Raw Crops & Cereals, Fruits & Vegetables, Turf & Ornamentals, and Others), By Application (Foliar Treatment, Soil Treatment, and Seed Treatment), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In May 2017, Isagro USA, Inc. a global discovery and research company which manufactures and markets both bio-based and conventional chemistry products launched an ever-expanding bio-solutions portfolio designed to serve growers seeking to meet consumer demand for more bio-based and organic food production.
- In November 2019, Italpollina, a world leader in the production of organic fertilizers, natural biostimulants and beneficial microbials announced a new global initiative – the launch of www.biostimulant.com. The purpose of this website is to provide complete information about the biostimulants.
Analyst View:
The government of several European countries have fortified the manufacture of bio-based chemicals to increase the yield and protection of crops. In addition, the European Biostimulant Industry Consortium (EBIC) is actively involved in supporting sustainable agriculture and propelling the European Biostimulant market. EBIC identifies the contribution of biostimulants to green innovation, economic growth, sustainable agricultural production, and other European Union (EU) policy objectives. As per EBIC, in 2016, about 8.5 million hectares of land in Europe was treated with biostimulants. Such measures are projected to create lucrative growth opportunities to crop growers in European countries.
Exceptional capabilities of enhancing plant productivity is driving the demand for the biostimulants market globally. Furthermore, biostimulants also helps in root system development, improving plant uniformity, enhancing photosynthetic activities, and streamline flowering. Participants involved in the biostimulants market value chain. Such as investors, regulators, consumers, and farmers are examining the potential applications of biostimulants in sustainable agriculture. Currently, both, developing as well as the developed nations are formulating guidelines related to the use of biostimulants.
Key Market Insights from the report:
The global biostimulants market accounted for US$ 2.3 billion in 2019 and is estimated to be US$ 6.4 billion by 2029 and is anticipated to register a CAGR of 10.8%. The market report has been segmented on the basis of active ingredients, form, crop type, application, and region.
- By active ingredients, Acid-based active ingredients segment estimate for the highest market share in 2019. Acid-based segment includes products based on humic, fulvic, and amino acids. Amino acids are among main originators of phytohormones and helps in stimulating the metabolic systems of plants and seed germination. They stimulate flowering, pollination, fruit setting, and fruit development in the plant.
- By form, the liquid segment is expected to register higher growth in the biostimulants market. The most commonly available liquid form of biostimulants are suspension concentrate formulations. The prominent companies that manufacture liquid-based biostimulants include UPL (US), Ilsa (acquired by Italy-based Biolchim), Novozymes (Denmark), Koppert (Netherlands), and BioAg Alliance [Monsanto (US).
- By crop type, row crops and cereals segment dominate the overall biostimulants market in 2019. They include soybeans, corn, oats, barley, millets, and cotton. These crops are grown broadly across the world in large areas and provides lucrative growth opportunities for the industry.
- By application, the foliar treatment application segment dominated the global market in 2019. Whereas, the seed treatment is projected to register the highest revenue-based CAGR throughout the forecast period. As compared to conventional spraying techniques, seed treatment is among the most cost-effective applications.
- By region, Europe is the biggest revenue-generating region and is expected to continue its dominance throughout the forecast period. Supportive guidelines to expand the production of organic foods are projected to surge the application of biostimulants. Conversely, sluggish growth of the agriculture sector in Western Europe is projected to remain a limiting factor for the global market growth. Nevertheless, availability of biofertilizers is anticipated to pose a substitution threat over the forecast period.
To know the upcoming trends and insights prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Biostimulants-Market-4411
Competitive Landscape:
The prominent player operating in the global biostimulants market includes Isagro, Arysta LifeScience Corporation, Valagro, Monsanto, BASF SE, Koppert B.V., Biostadt India Limited, Biolchim SPA, and Italpollina S.p.A.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
0
