As the global food security concerns surge, the rising investments in plant development promises an escalating demand for biostimulants. The global biostimulants market size is anticipated to surpass $5 billion towards 2026, thanks to the popularity of organic farming across numerous regions of the world.
The following four trends have been fostering the biostimulants market growth.
Investments in R&D to propagate growth
Major industry players have been investing in R&D for scaling up their manufacturing capacity and enhancing brand image. In Europe, the number of plant biostimulant inventions focusing on particular agronomic needs has been growing, adding significant acceleration to the regional biostimulants market growth.
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Furthermore, the number of clinical research initiatives has been on the rise. New breakthroughs in the area are likely to directly impact the biostimulants market trends. For instance, results of a new study conducted at Nottingham Trent University analyzed the effects of a hybrid biostimulant on a variety of crops. The game-changing product can save millions of dollars. It was found that using biostimulants resulted in the plants exhibiting high drought tolerance, increasing the yields by a staggering 30%.
Asia Pacific to dominate global demand, driven by urbanization
The biostimulants market in Asia Pacific is set to gain the first position, thanks to the growing need to fulfill the demands of the huge population base in the region. Since biostimulants can significantly boost crop productivity, both in terms of quantity and quality, the regional market is likely to rise at a CAGR of 11.5% between 2020 and 2026.
Biostimulants amp up plant growth, soil productivity, and overall crop productivity. That is why, numerous farmers have been embracing these products to ensure that sustainable practices are being adopted. The increase in agricultural resources, alongside the expansion of the food & beverage industry, has also been paving the way for the growth of the biostimulants market share in the region.
Seed treatment to exhibit promising elevation
The seed treatment segment of the biostimulants industry is expected to make a headway in the market scenario, supported by the ability of this application to improve germination. Seed treatment primarily protects the seeds from insect attacks when the crop is being cultivated. Since biostimulants function as a chemical barrier for protecting the germinating seeds, the segment is anticipated to rise exponentially, contributing toward the growth of the biostimulants industry share.
List of Top Key players operating in the global market: Arysta LifeScience Corporation, Biolchim S.p.A, Biovert SL, BASF SE, Bayer S.p.A, Desarrollo Agrícola y Minero, S.A, ILSA S.p.A, Italpollina S.p.A, Koppert B.V., Lallemand, Trade Corporation International, Valagro, Artal Agronutrientes, Mahafeed Specialty Fertilizers Pvt. Ltd., Agrinos, Micromix, Biostadt India Limited, Agricultural Sciences, Inc., Ag Concepts, Produquimica (Compass Minerals), Agrichem, S.A., and Stoller.
The Biostimulants market report provides the shares, size, revenue, and growth of each segment. The research report demonstrates the segment-wise study of the industry through market statistics and evolving dynamics.
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Finally, the Biostimulants market report offers an in-depth study of the Biostimulants market by using numerous analytical tools and models such as investment return analysis, SWOT analysis, PESTEL Analysis and porter’s five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except this, our expert analyst will provide customization as per specific demands. Our reports have been tracking the impact of COVID-19 on the market.
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