The European region accounted for the highest adoption of biostimulants in the agricultural industry in 2016, owing to the growing awareness and increasing requirement for important fruit & field crops such as apples, pears, peaches, cotton, and corn. Asia Pacific is projected to be the fastest-growing region for the biostimulants market in agricultural applications from 2017 to 2022.
The report "Biostimulants Market by Active Ingredient (Humic Substances, Seaweed, Microbials, Trace Minerals, Vitamins & Amino Acids), Crop Type (Row Crops, Fruits & Vegetables, Turf & Ornamentals), Formulation, Application Method, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 10.43% from an estimated value of USD 2.00 Billion in 2017 to reach USD 3.29 Billion by 2022.
Browse 121 Market Data Tables and 53 Figures spread through 188 Pages and in-depth TOC on "Biostimulants Market - Global Forecast to 2022"
The market is driven by factors such as the rise in demand for sustainable farming practices, growth in research on cost-effective production processes, and the impact of biostimulants on the reduced application of fertilizers and production costs.
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Row crops segment is projected to be an important crop type in the Biostimulants Market
Row crops such as cereals, oilseeds, and pulses account for a larger share in the global cropped land and thereby, row crops such as cotton, corn, rice, and sugarcane in developing regions of Asia Pacific and South America are projected to drive the application of biostimulants.
Seed treatment segment, by application method, is projected to remain in the higher growth curve in the next five years
Factors such as effective nutrient uptake from the early stage of growth and innovative technical compounds are projected to fuel the demand for seed treatment as it can significantly reduce the wastage caused by spray drift and therefore, improve the product effectiveness and limit fertilizer application among crop growers.
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Significant competition to capitalize the market potential among international manufacturers in the Asia Pacific and South American region
Rising export quality requirements for agricultural products and increasing adoption of sustainable agriculture practices in important fruit-growing nations such as India, Brazil, and China are expected to drive the demand for biostimulants among the crop growers in the Asia Pacific and South American region during the forecast period. This would increase the inflow of many international manufacturers to set up their business units and distribution networks, thereby leading to a strong market competition.
The report Biostimulants Market includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Isagro (Italy), Arysta (Japan), Valagro (Italy), BASF (Germany), and BioAg Alliance (US), which are some of the well-established and financially stable players that have been operating in the industry for several years.
Other players include Koppert (Netherlands), Biolchim (Italy), Biostadt (India), and Italpollina (Italy).
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