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Rising Adoption of Precision Farming Likely to Propel the Global Biostimulants Market
Date: 19 October 2019

The global biostimulants market is expected to reach US$3.97 billion in 2023, increasing at a CAGR of 11.70%, for the duration of 2019-2023. The factors, such as, escalating production of crops, rising levels of global warming, surging corporate investments on agriculture, increasing disposable income, expansion of catering industries across the world and growing awareness about biostimulants amongst farmers, are likely to drive the growth of the market. However, the market growth would be challenged by the complex understanding of the effects of biostimulants, high production cost of biostimulants and regulatory work. A few notable trends include, accelerating demand for organic food products, increasing government share of agricultural expenditures and increasing atmospheric concentration of methane.

 

The global biostimulants market has two major segments, based on the active ingredients – acid based ingredients and extracts based ingredients. The market is highly dominated by acid based biostimulants due to the increasing results of acid ingredients on the productivity of plants and crops. While extract based biostimulants, such as seaweeds, are gradually emerging with considerable market demand.

 

The fastest growing region is Europe, due to the massive production as well as application of biostimulants for the major horticulture crops. Apart from Europe, Asia Pacific is also witnessing increasing market demand for biostimulants, owing to the growing health consciousness among population, which is demanding organically produced food products. Both the regions are playing prominent role in the considerable expansion of the global biostimulants market.

 

Scope of the report:

 

• The report provides a comprehensive analysis of the global biostimulants market, further segmented on the basis of Active Ingredients, Application and Crop Type.

• The major regional markets (Europe, Asia-Pacific, North America and Latin America), have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

• The competitive landscape of the market, along with the company profiles of leading players (The Eastman Chemical Company, Isagro, UPL, Valagro, Italpollina and Atlántica Agrícola) are also presented in detail.

 

Key Target Audience:

 

• Agro Products Manufacturers
• Chemicals Suppliers
• End Users (farmers, agriculture workers and horticulture workers)
• Agricultural and Horticultural Advising Firms
• Investment Banks
• Government Bodies & Regulating Authorities

 

 
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