Global Biostimulants Market is estimated to reach $3,878 million by 2024; growing at a CAGR of 10.8% from 2016 to 2024. Biostimulants are biologically derived formulations that induces the plant growth, and productivity. Biostimulants can be obtained from various organic substances including complex organic substances, humic substances, seaweed extracts, peptides, amino acids, and many others. It nurtures the plant growth and development throughout the lifecycle and improves the plants metabolism to induce yield and enhance crop quality. Moreover, it positively impacts the activity and gene expression of enzymes functioning in primary and secondary plant metabolism. Biostimulants is increasingly gaining popularity owing to its immense contribution in crop yields, improved horticulture practices, and minimum loss to the environment.
Global Biostimulants Market Size and Forecast, 2015 – 2024 (US$ Million)
Increasing population, decreasing agricultural land, and expanding organic food industry are the drivers propelling the growth of the global biostimulants market. Moreover, climate change impacts, increased abiotic stress, and increasing demand for sustainable method to improve crop yield also supports the growth of the market. However, low awareness among farmers and lack of proper regulatory framework could restrain the market growth. Additionally, improved market access, and need for integration of cost-effective alternatives would provide market opportunities in coming years.
The global biostimulants market is segmented on the basis of crop type, active ingredient, application, and geography. Crop type is bifurcated as raw crop, fruit and vegetables, turf and ornaments, and others. Active ingredients are categorized as humic substance, fulvic, seaweed extracts, amino acid, vitamins, and others. Furthermore, application includes foliar, soil, and seed.
Global Biostimulants Market Share by Region, 2024 (value%)
Based on geography, biostimulants market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, Spain, and others. Asia-Pacific is segmented into China, Japan, India, Australia, and others, while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in this market includes Novozymes A/S, Biolchim SpA, Italpollina SpA, Platform Specialty Products Corporation, Koppert B.V., BASF SE, Valagro S.p.A., ILSA S.p.A, Bayer AG, and Arysta LifeScience Limited, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Biostimulants Market with respect to major segments such as crop type, active ingredients, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Biostimulants Market has been included in the report
- Profile of the key players in the Global Biostimulants Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Biostimulants Market
Crop Type Segments
- Raw Crop
- Fruit and Vegetables
- Turf and Ornaments
- Other Crop Types
Active Ingredient Segments
- Humic Substance
- Seaweed Extracts
- Amino Acid
- Other Active Ingredients
- North America
- South America
- Middle East