Asia Pacific is the fastest growing regional market for biostimulants and is projected to expand at a CAGR of 14.02% over the forecast period to reach US$741.095 million in 2022. Major factor driving the increasing usage of biostimulants in the region are burgeoning need to enhance crop yield and quality owing to increasing demand for food products. Moreover, stress on sustainable agriculture and adoption of precision agriculture is also contributing to the market growth. Furthermore, growing health awareness is leading to the large-scale adoption of organic food products and thereby contributing to the surge in the demand for biostimulants over the forecast period in the region.
Geographically, Asia Pacific region is segmented into China, India, Japan, Australia, and others. The reason of high Biostimulants market growth in the region is the need to enhance the crop quality and yield of intensely grown food crops such as wheat, rice, soybean, and corn. Further, reduction in arable land owing to rapid industrialization and urbanization is augmenting the need for increasing per hectare crop yield, leading to higher use of biostimulants over the forecast period.
Asia Pacific Biostimulants market has been segmented on the basis of active ingredients, crop type, application, and geography as follows:
By Active Ingredients
By Crop Type
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Isagro S.p.A, Taminco Corp., Valagro S.p.A, Italopolina S.p.A, Biostadt India Limited, and Koppert BV among others.