“Biostimulants market is projected to grow at a CAGR of 10.4% in terms of value”
The biostimulants market is projected to reach USD 2.91 billion by 2021. This market has been gaining prominence among broad-acre crops to improve the crop productivity against different stress conditions such as intense heat, drought, salinity, or floods. Factors such as raw material availability and widening applications in row crops such as cereals and oilseeds for its efficient stress response mechanism are projected to drive the biostimulants market.
“Innovative product formulations from seaweed extracts and microbials are projected to boost the biostimulants market”
Among the key ingredients considered, seaweed extracts and microbial amendments are projected to be the fastest-growing segments. Seaweed extracts provide larger benefits in terms of improving soil structure and aeration, increasing biotic and abiotic stress tolerance, enhancing seed germination, and stimulating root growth, flower set, and fruit production. For nitrogen fixation and nutrient solubilization, PGPR and PSB are projected to become an important part of biostimulant formulations.
“Asia-Pacific region is projected to be the fastest-growing region in the biostimulants market”
The growth in the Asia-Pacific region is supported by the increasing demand to step up the productivity of intensely cultivated food crops such as rice, wheat, soybeans, and corn. Biostimulants not only enhance crop growth during harsh conditions in these regions but also improve the crop yield and quality.
Break-up of primaries, by the following:
- By Company Type: Tier 1 – 20%, Tier 2 – 50%, and Tier 3 – 30%
- By Designation: C level – 28%, Director level – 22%, and Others – 50%
- By Region: Europe–40%, North America – 25%, APAC – 22%, and Latin America – 13%
Key market players such as BASF SE (Germany), Novozymes A/S (Denmark), IsagroSpA (Italy), Platform Specialty Products Company (U.S.), ValagroSpA (Italy), and BiolchimSpA (Italy) have been profiled in the report. Other players include Sapec Group (Portugal), Koppert B.V. (the Netherlands), Biostadt India Limited (India), and Italpollina SpA(Italy).
Reasons to buy this report:
- To get an overview of the global biostimulants market
- To gain insights of the key players of the industry, their product portfolios, and key strategies adopted by them
- To get an overview about the countries/regions witnessing strong demand in the biostimulants sector in order to ascertain investment decisions for business operations
- To gain knowledge of the growth of various subsegments in order to strengthen the areas for product launches and innovations, and service customization.