Biostimulants are a microorganism when applied to seeds, plants, or the rhizosphere, foster plant development in many demonstrated ways throughout the crop lifecycle, from seed germination to plant maturity. Biostimulants also enhance the plant’s ability to absorb nutrients so it can develop properly. The global Biostimulants market reached a market valuation of USD 322.7 Billion in 2018 and is estimated to grow at a CAGR of 15.0% during the forecast period, i.e., 2019-2024.
Growth Drivers – Biostimulants Market
Growing Need to Maximize Crop Yield
The agriculture sector is beginning to avoid usage of chemical pesticides in agriculture as they have realized the effects of chemicals on soil fertility and water quality. Owing to overconsumption of chemical fertilizers, the condition of soil has been deteriorating worldwide, lowering crop yields, crop quality, and exacerbating harvest uncertainty. Farmers across the globe are realizing the potential of Biostimulants and are increasingly welcoming Biostimulants in agriculture. In order to maximize profit, farmers are using Biostimulants to increase yield in terms of weight, seed, and fruit set.
Rising Food Scarcity
According to United Nation report, the current world population of 7.6 billion is expected to reach 8.6 billion in 2030, 9.8 billion in 2050, and 11.2 billion in 2100. With a rising population, the chances for food scarcity is also rising and to tackle this threat; governments are encouraging usage of environment-friendly fertilizers and plant nutrition. Governments are offering subsidies to farmers for using biofertilizers, which in turn bolstering the growth of global Biostimulants market. The rising popularity of modern agriculture techniques such as hydroponics, aquaponics, vertical farming, and other controlled environment agriculture methods is encouraging the growth of global Biostimulants market.
Barriers – Biostimulants Market
Weak law infrastructure to ensure the usage of eco-friendly and presence of alternatives such as chemical pesticides are several significant challenges confronting the growth of global Biostimulants market.
Market Trends – Biostimulants Market
Manufacturers are spending significant capital on advancements of their stimulants. Use of Biostimulants is the fastest growing area in crop protection, and manufacturers are continually advancing their Biostimulants to capture maximum demand opportunity in the market. For instance, a Canadian company ASL developed seaweed-based Biostimulants to help farmers raise their agricultural output in India.
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The Biostimulants market is segmented in different categories including by type, by crop type, and by application. The market is segmented by type into acid-based biostimulants, seaweed and plant extracts, microbial biostimulants and others. Among this segment, the acid-based biostimulants segment is expected to capture significant shares of the market in 2018. Global acid-based biostimulants segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Moreover, based on the application, the Biostimulants market is further sub-segmented into foliar, soil, and seed. Among which seed segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into one more section including by crop type into food crops, cash crops, plantation crops, and horticulture crops.
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to Biostimulants market, Asia Pacific is the leader in Biostimulants market. The Asia Pacific region has acquired significant market shares and is poised to continue its dominance in the coming years. Government support and huge agriculture sector have fueled the market growth in this region.
The report also covers detailed competitive analysis of major market players of the global Biostimulants market, such as AXEB BIOTECH SL, Sonar Agro, Lida Plant Research S.L., Sherriff Grass Care, Haifa Group, Hi-Tech Ag Solutions, Acadian Seaplants Ltd., Bioiberica S.A.U., OMEX, Kelpak and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
- Acid-based Biostimulants
- Seaweed and Plant Extracts
- Microbial Biostimulants
By Crop Type
- Food Crops
- Cash Crops
- Plantation Crops
- Horticulture Crops
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
• AXEB BIOTECH SL
• Sonar Agro
• Lida Plant Research S.L.
• Sherriff Grass Care
• Haifa Group
• Hi Tech Ag Solutions
• Acadian Seaplants Ltd.
• Bioiberica S.A.U.
• Other Major & Niche Players
The study also provides a company’s positioning and market share in Biostimulants market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Biostimulants market by the following segments:
- Crop Type
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Biostimulants Industry Report
• What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
• Which region would have a high demand for the product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?