The Global report on “Biostimulants Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“The biostimulants market is projected to grow at a CAGR of11.24%, in terms of value. The key drivers include the increase in the need for sustainable agriculture and strong demand for high-value crops.”
The biostimulants market is estimated to be valued at USD 2.6 billion in 2019 and is projected to grow at a CAGR of 11.24%, to reach USD 4.9 billion by 2025. The growth of the biostimulants market is driven by the increase in the need for sustainable agriculture; easier availability of certain raw materials, namely, humic acids and seaweeds; and strong demand for high-value crops such as fruits, vegetables, and plantation crops. However, due to the lack of transparency in the patent protection law in various countries, low-quality products are being produced. Thus, duplication during biostimulant product formulation restrains the growth of the biostimulants market.
With the launch of new innovative products, these restraints could be overcome and would provide opportunities for the biostimulants market to grow. It would also be a platform for the development of more innovative extraction technologies.
“High price of amino acid contributes to its dominance in the global biostimulants market.”
Biostimulants encompass a diverse range of active ingredients, which includes microbial amendments, amino acids, humic acids, fulvic acids, seaweed extracts, and others (which include polysaccharides, trace minerals, and vitamins). These are most commonly used in formulations and have been acclaimed as biostimulant ingredients by the regulatory bodies and associations such as the European Biostimulant Industry Council (EBIC).
As per the industry experts, amino acids are expensive in comparison with other active ingredients. This is due to the high cost associated with the extraction and downstream formulation processesof amino acids. Humic substances are mentioned to be the least expensive of all active ingredients. Thus, the amino acids segment is projected to remain dominant in the market, in terms of value, during the forecast period.
“The fruits & vegetables segment held the dominant market share in the biostimulants market, based on crop type.”
Biostimulants can be used for all major crop types across the globe. The major crops considered in the biostimulants market include melons, leafy vegetables, tomatoes, potatoes, cotton, corn, and wheat. The dosage and the impact of the product vary with respect to different crops.
Based on crop type, fruits & vegetables dominated the biostimulants market, in terms of value, in 2018. This was mainly due to the higher application of biostimulants to crops such as tomatoes, cucumbers, potatoes, grapes, peppers, broccoli, and strawberries. Also, it helps to enhance the characteristics of the produce, including higher sugar content, rich color, and fruit development and enlargement.
“High growth is projected in the Asia Pacific biostimulants market during the forecast period.”
The Asia Pacific region is projected to be the fastest-growing market for the period considered in this study. This is due to the requirement to increase crop yield and weak regulatory system, particularly in India and other Southeast Asian countries. Furthermore, many companies are investing in this region through organic and inorganic strategies. For instance, Arysta Life Science (now under UPL) launched around nine biostimulant products in the Chinese market in 2017, while Valagro, one of the leading companies in the production and marketing of biostimulants, launched two new products such as Opifol and Yield On in the Indian market, in 2018. Thus, increase in the number of product launches in the region boosts the demand for biostimulants.
Break-up of Primaries:
- By Company Type: Tier 1-45%, Tier 2-30%,and Tier 3–25%
- By Designation: C-Level -50%, Directors-20%, and Others*-30%
- By Region: Asia Pacific -40%, Europe- 30%,North America- 15%, South America – 5%and RoW -10%
*Others includes sales managers, marketing managers, and product managers.
Leading players profiled in this report:
- BASF (Germany)
- Valagro (Italy)
- Bayer (Germany)
- UPL (India)
- Biolchim (Italy)
- Isagro (Italy)
- Italpollina (Italy)
- Syngenta (Switzerland)
- FMC Corporation (US)
- Adama (Israel)
- Koppert (the Netherlands)
- Acadian Seaplants (Canada)
- Biovert (Spain)
- Haifa Group (Israel)
- Sapec (Portugal)
The report segments the biostimulants market on the basis of active ingredient, crop type, application method, form, and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles—which together comprise and discuss views on the emerging & high-growth segments of the global biostimulants market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
- To get a comprehensive overview of the biostimulants market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the biostimulants market is flourishing
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