The global market for biostimulants is projected
to witness a high demand over the forthcoming years. As reported by
Transparency Market Research (TMR), the market is anticipated to
offer numerous growth opportunities for vendors. Experienced players
are enthused about banding together with worldwide market players to
pick up a global presence. Further, the tremendous market potential
is drawing in the emergence of new players into the market. This is
relied to involve market fragmentation due to vicinity of expansive,
medium and small-sized players. The leading market players are
Biolchim S.p.A., Kelpgrow, Koppert Biological Systems, Valagro,
Syngenta, Premier Tech Ltd., Italpollina spa, and Agriculture
Solutions Inc. These market players are foreseen to engage into novel
business procedures that could give them an edge over contenders.
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TMR predicts that the global biostimulants market
is set to exhibit a 12.8% CAGR from 2017 to 2025. The market revenue
is thus evaluated to reach US$5.93 bn by 2025 end, rising US$20.05 bn
in the year 2016.
Seaweed to Gain Traction in Product Segment due
to High Demand
Based on the type of product, the overall
biostimulants market is segmented into microbial stimulant, amino
acids, fulvic acids, humic acids, vitamins, seaweed and mineral among
others. Amid these. The seaweed segment is expected to emerge as a
winning product. Seaweed extracts are used on a large basis in a
number of healthcare products. Also, the rising awareness toward
using organic ingredients in products and the decline in use of
chemical fertilizers is further fueling the seaweed segment growth.
On the basis of geographical segmentation, Europe
led the market with a 40% revenue share in the year 2016. This
predominance of the region is expected to continue on account of
countries such as Germany, France, and U.K. which yield high demand
for biostimulants. However, in terms of growth rate, Asia Pacific is
predicted to surpass all other regions, with a 13.9% CAGR throughout,
The region is a heavy consumer and producer of food crops like rice,
wheat, corn and soybeans. Biostimulants help enrich the conditions
required for these crops, improve quality of crop and yield.
Additionally, governments in the region are providing support to the
industry in form of subsidies which will further aid market growth.
Subsidies from Governments in Emerging Regions
to Offer Rich Growth Opportunity
Increment in the focus to expand profitability and
quality drives the surging interest for biostimulants in the market.
Another huge factor affecting the market development is the
acquaintance of economical horticulture that could help protect the
soil from atrocious impacts, particularly in Europe and North
America. However, the low awareness about the benefits of
biostimulants in agrarian exercises among the farmers could hamper
the market development.
Yet, the restricted land accessibility alongside
upgraded cultivating practices is expected to impel the agribusiness
industry towards accuracy cultivating which will open new paths for
biostimulants market development. The changing way of life and
expanding acquiring power equality especially in emerging regions is
predicted to invigorate the biostimulants market. Swift changes in
atmosphere because of atmospheric deviations influencing crop yield
will emphatically impact product development and entry over the
coming years.
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This review is based TMR’s report titled,
“Biostimulants Market (Product - Humic Acid, Fulvic Acid, Amino
Acids, Microbial Stimulant, Seaweed, Vitamins, and Biorationals;
Application - Oilseeds and Pulses, Cereals and Grains, and Fruits and
Vegetables) - Global Industry Analysis, Size, Share, Growth Trends,
and Forecast 2017 - 2025.”Top of Form
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