Biostimulants Market has increased its sales in agriculture and horticulture sector according to MRFR study.

Market Summary

The growing demand for organically produced foods is growing rapidly which is influencing higher demand and use of biostimulants. The increasing level of investment in research to identify organic molecules and right formulation to improve the plant metabolism and enhance plant performance in a short period of time and in a cheaper way. Biostimulants find its application in diverse spectrum which include agriculture and horticulture.  These factors will support the growth of biostimulants market during the forecast period.

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The intensive use of fertilizers and agrochemicals in modern agriculture adversely affect the soil quality, gradually resulting in degradation of its physicochemical properties. Biostimulants restores and repair degraded agricultural soils and re-establish a productive soil ecosystem and rebuild a healthy and fertile soil.  Biostimulants are considered chemical free and work exactly like fertilizers to boost plant growth and provide nutrition. This will lead to surge in sales of biostimulants across the globe. Rising consumer indulgence and consumer willingness to pay for natural and healthy products will fuel the demand of biostimulants. Hence globally, biostimulants market is growing at the rate of 11.09% during 2017 to 2023.

Market Forecast

With the growing consumer awareness & their increasing interest in natural and organic food products, the demand for biostimulants will drive the market growth from 2017 to 2023. Also, manufacturers are investing in R&D and investigative activities to improve existing products and procedures in order to develop new products has boosted the sales of biostimulants. Biostimulants restores and repair degraded agricultural soils and re-establish a productive soil ecosystem and rebuild a healthy and fertile soil. Biostimulants also maintain the salinity and sustainability of soil for long-term use making it safe for soils and crops. These factors will play a key role in the growth of biostimulants market at the CAGR of 11.09% during 2017-2023.

Segmentation:

Biostimulants market by type has been segmented into natural and synthetic, natural biostimulant will dominate the market as the demand for organic and clean label food product has increased in the recent years. On the basis of crop type, market is segmented into fruits & vegetables, row crops, turfs & ornaments and others, row crop will dominate the market and will grow at a CAGR of 10.9%. On basis of application, market is segmented into seed treatment, foliar treatment, soil treatment. On basis of active ingredients, market is segmented into acid based, extracts, and others, extract based biostimulants will be highest growing segment during the forecast period. On basis of acid based ingredients, market is segmented into humic acid, fulvic acid, amino acid. On basis of extract based ingredients, market is segmented into microbial, plant, seaweed.

By Application Analysis-

Acid based biostimulant will dominate the market, followed by extract based biostimulants. Biostimulants are used for crop protection in organic farming; hence, its market demand is rising with growing popularity of organic food & beverage. Moreover, foliar treatment will dominate the market, followed by seed treatment. Growing internet users across the globe and rise in the popularity of e-commerce, key players are launching & promoting their product line on various e-commerce sites, newspaper so as to reach out to farmers in rural regions as well.

The Global biostimulants market is mainly occupied by some key manufacturers. The competitive environment in this market is estimated to increase, with an increase in product portfolio from current key players. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.

Key Players

The leading market players in the Global biostimulants market primarily are BASF SE (Germany), Sapec Group (Trade Corporation International) (Spain), Arysta Life Science Limited (Japan), Isagro S.P.A (Italy), Valagro S.P.A (Italy), Koppert B.V (The Netherlands), Italpollina (Italy)

Regional Analysis

The global biostimulants market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these Europe region has the major market share. The market is projected to grow at a steady pace in the review period. Asia-pacific will be the fastest growing region in the biostimulants market and high growth in emerging economies such as China, India, Japan, Australia, and the Latin American countries, offers ample opportunities for expansion to major players. Global biostimulants market is highly concentrated in Europe. However, APAC has huge potential for biostimulants, as there is rise in disposal income, increased in demand for organic food and beverages. Biostimulants manufacturers are focusing on expanding their product line by providing larger product line for various application such as seed treatments, soil treatment and others.

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