Biostimulants Market Forecast 2019-2024 Growth Drivers, Regional Outlook
The global Biostimulants market is segmented by crop type into row crops & cereals, fruits & vegetables, turf & ornamentals & others; by treatment type into foliar, seed and soil; by active ingredient type into acid based, seaweed extract and microbial and by regions. According to Foreign Agricultural Service (FAS), the world production for various agricultural products in 2016-17 such as wheat was 756.5 million metric tons, coarse grains was 1413.7 million metric tons, rice and milled was 490.8 million metric tons, total grains of 2661 million metric tons and oilseeds of 572.8 million metric tons which is thriving the Biostimulants market to anticipate at a CAGR of 13.2% during the forecast period i.e. 2018-2027.
The market of Biostimulants is growing on the back of increasing agricultural practices and the growing organic food demand. The lifestyle of people has shifted the food habits to organic foods which require a huge demand of biostimulants and thus are expected to increase the market during the forecast period. The rising need in herbicides are also growing the market demand considerably.
Europe is expected to lead the market of biostimulants and is subsequently expected to raise the market demand during the forecast period. The various government regulations for increasing agricultural yield are rising the demand for biostimulants in this region. Asia Pacific is expected to follow Europe and also contribute to a high share in the market of biostimulants. The agriculture based economies in Asia Pacific region is expected to boost the market demand during the forecast period.
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Steady Application in Agriculture
The biostimulants are used to make various plant growth possible by generating safe and favorable growth environment for the crops, vegetables and other plant which help in better agricultural production. The various crops are treated with biostimulants so as to protect the health of the crops till it is harvested. The biostimulants are used precisely to target the problems and prevent them during epidemic plant disease spread which is expected to drive the demand for biostimulants during the forecast period. The various agriculture based economies are also focusing on organic production of fruits and vegetables which is boosting the market demand for the biostimulants in the market during the forecast period.
However, associated toxicity of the biostimulants are causing skin and eye irritation and various respiratory diseases in human beings. Moreover, the aquatic life is also harmed owing to the contamination with biostimulants of water, which is estimated to cause hindrance to the market growth further over the forecast period.
The report titled “Global Biostimulants Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Biostimulants market in terms of market segmentation by crop type, by active ingredient type, by treatment type and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Biostimulants market which includes company profiling of Biolchim S.p.A., Isagro S.p.A., Platform Specialty Product Corporation, Koppert B.V., Valagro S.p.A., Biostadt India Limited, Novozymes A/S, Sapec Group, Italpollina S.p.A., BASF SE and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Biostimulants market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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