Market Overview
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 Share during the forecast period.
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 Share 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 Share at the CAGR of 11.09% during 2017-2023.
Key Players
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)
Market Segmentation:
Global Biostimulants Market Share is segmented by type, crop type, active ingredients, application and region
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Regional Analysis
The Global Biostimulants Market Share 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 Share 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 Share 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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