Category

Biostimulants Market - Forecasts From 2018 To 2023

114 pages
Published on : May 2019
Report Code : KSI061610342

Description

Global Biostimulants market is projected to grow at a CAGR of 11.08% over the forecast period to reach US$2,755 million in 2022, from US$1466.272 million in 2016.  Biostimulants are enzymes, seaweed, plant hormones, microorganisms and trace elements that are applied to the plants or soil to improve crop vigor, quality, yield, and tolerance to abiotic stresses. The global biostimulants market is majorly driven by the need for an increase in yield per hectare owing to rising global population and their demand for food. Supportive government initiatives and increased funding and grants for sustainable agriculture are further fuelling the demand for biostimulants. Biostimulants are increasingly finding applications in agriculture and horticulture sector owing to the benefits such as improved metabolism, water holding capacity, chlorophyll, and antioxidants production. Increasing demand for organic food products owing to growing awareness about good health and fitness leads to the expansion of organic farming across the globe which is, in turn, will augment the demand for biostimulants in the next five years. Other factors such as declining farmland and requirement of sustainable solutions for agriculture production will also propel the growth of biostimulants market in the near future. However, high R&D costs and lack of awareness about the various biostimulants products, particularly in emerging economies, will restrain the market growth during the forecast period.

Geographic Outlook

Europe holds the largest share of the global biostimulants market owing to rising demand for sustainable agricultural products and increase farm profitability. However, APAC region will witness the fastest market growth due technological advancements and growing awareness regarding benefits of organic food products in the region.

Segmentation

Thirdly, Biostimulants market has been segmented on the basis of active ingredients, crop type, application, and geography as follows:

By Active Ingredients

    Acidic Biostimulants

    Extract Biostimulants


    By Crop Type

      Fruits

      Vegetables

      Turfs

      Ornamentals

      Row Crops


      By Application

        Foliar

        Soil

        Seed


        By Geography

          Americas


            North America

              US

              Canada

              Mexico

              Others


              South America

                Brazil

                Argentina

                Others


                Europe Middle East and Africa

                  Europe

                    United Kingdom

                    Germany

                    France

                    Italy

                    Spain

                    Others


                    Middle East and Africa


                    Asia Pacific

                      Japan

                      China

                      India

                      Australia

                      Others


                      Market Players

                      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 Italpollina, BASF, Bayer, Syngenta, BioAg Alliance, Biostadt and Koppert BV among others.

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