Global Biostimulants Market by Active Ingredients, by Application (Seed, Foliar, Soil), by Crop Type (Fruits & Vegetables, Cereals & Oilseeds, Turfs & Ornaments, and Others) and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
According to the report Biostimulants Market, published by Market Data Forecast, the Global market is projected to reach USD 3.3 billion by 2022, at a CAGR of 10.8% from 2017 to 2022
Biostimulants are fertilizer additives which are derived biologically to improve plant growth and productivity. They include microorganisms or biological formulations.
They are applied directly to plants or to soil to enhance crop yield, quality and tolerance to abiotic stresses. They also increase water storage efficiency of plants.
They are useful to plants throughout their life from seed germination to harvesting.
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Biostimulants Market: Drivers & Restraints
Due to the rapid population growth and decreasing agricultural land, the need to increase the crop production has increased. These are the major factors driving the growth of biostimulants market.
Increase in the prices of chemical fertilizers and stimulants, growing demand for organic food products, increase in demand for environmental friendly alternatives and efficient use of resources are expected to propel the market growth.
However, lack of proper regulatory guidelines and lack of awareness among farmers in emerging economies are inhibiting the market growth.
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Biostimulants Market: Segmentation
By Active Ingredients
- Fulvic Acid
- Protein Hydrolysates
- Seaweed Extracts
- Amino Acid
- Humic Acid
By Crop Type
- Fruits & Vegetables
- Cereals & Oilseeds
- Turfs & Ornaments
- North America
- o United States
- o Canada
- o K
- o Spain
- o Germany
- o Italy
- o France
- Asia Pacific
- o China
- o India
- o Japan
- o Australia
- o South Korea
- Latin America
- o Brazil
- o Argentina
- o Mexico
- o Rest of Latin America
- Middle East & Africa
- o Middle East
- o Africa
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Biostimulants Market: Overview
Based on the active ingredients, fulvic acid holds the largest market share. It is because fulvic acid contains several nutrients which are beneficial for plant health and it is also one of the most chemically active compounds in the soil.
Humic acid is also similar to the fulvic acid and also contribute significantly to the biostimulants market. Seaweed extract is expected to be the fastest growing market segment due to the high demand in developed countries in Europe and North America.
Europe leads the biostimulants market due to the availability of innovative products and high research and development investments in this region. Asia Pacific is the fastest growing market due to the growing awareness among farmers and encouragement by several agricultural organuzations toward organic farming.
Biostimulants Market: Key Players
Major players in the Biostimulants market are Biostadt India Limited, BASF SE, Novozymes A/S, Valagro SpA, Isagro SpA, Biolchim SpA, and Koppert B.V.
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