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(MoneyNewsWire.Net, October 10, 2017 ) The Global Biostimulants Market was worth $1.97 billion in 2016 and estimated to be growing at a CAGR of 10.82%, to reach $3.30 billion by 2021. With scarcity of land and water, amplified importance is being put on the support of advanced tools that can help improve crop harvest. Biostimulant is an organic substance that considerably impacts plant health. It is used in small amounts in order to encourage plant growth, thereby enhancing crop return and quality.
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Plant hormones, microorganisms, trace elements, and enzymes are combined in specific amounts to make biostimulants. Hence, biostimulants cannot be characterized as fertilizers that are used to provide nutrients to plants with nutritional deficiencies. They increase nutrient availability, metabolism, and boost the production of chlorophyll and antioxidants.
The growth of the Global Biostimulants market Analysis is majorly driven by factors such as rising population, easy availability, and eco-friendly nature of biostimulants. Another key factor driving the market is climate change. Regular deviations in climate due to global warming have resulted in instability in yields of several food and cash crops. This has led to a growing predilection towards the utilization of biostimulants by farmers. However, issues such as lack of awareness among the farmers in the developing countries and high R&D costs involved in this field are hindering the growth of the market.
The Global Biostimulants market is segmented based on Active Ingredients, Application, and Crop Type. The market for Biostimulants, on the basis of Active Ingredients, is classified into Fulvic Acid, Protein Hydrolysates, Seaweed Extracts, Amino Acid, Humic Acid, and Others. In this segment, humic acids and fulvic acids lead the global market for Biostimulants, accounting for more than 30% of the global market.
However, seaweed extract is projected to be the fastest-growing segment due to the increasing demand from North American and European countries. On the basis of Application, the global Biostimulants market is segmented into Seed, Foliar, and Soil. The foliar technique of application is the most favoured for biostimulant supply, as it delivers ingredients in a much more direct manner when compared to the others. On the basis of Crop Type, the global Biostimulants market is segmented into Fruits & Vegetables, Cereals & Oilseeds, Turfs & Ornaments, and Others. Cereals & Oilseeds lead the global market on the basis of Crop Type and this trend is expected to remain the same during the forecast period.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Europe has been leading the global Biostimulants market followed by North America on account of rapid development of innovative biostimulants and huge investments in R&D. The Asia Pacific market is anticipated to be the fastest growing regional market due to rising awareness and preferences for biostimulants. Growing demand for biostimulants in countries such as Brazil and Mexico is anticipated to offer huge growth prospect for the market in the Latin America region.
Important strategies such as product expansions and investments have been implemented by the key players in the biostimulants industry. These companies are improving their capabilities by diversifying their commercial operations across the high-growth markets with efficient distribution systems. The major companies dominating the global Biostimulants market are BASF SE, Biostadt India Limited, Valagro SpA, Novozymes A/S, Biolchim SpA, Isagro SpA, and Koppert B.V.
Market Segmentation
1) By Active Ingredients
Fulvic Acid
Protein Hydrolysates
Seaweed Extracts
Amino Acid
Humic Acid
Others
2) By Application
Seed
Foliar
Soil
3) By Crop Type
Fruits & Vegetables
Cereals & Oilseeds
Turfs & Ornaments
Others
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Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
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