A key factor driving the growth of the market is the growth in the organic food industry. During the forecast period, the global organic food industry will post a CAGR of over 14%. The growing focus on health and the environment is increasing the consumption of organic varieties of fruits, vegetables, and grains. Several governments across the world encourage the adoption of organic foods, and the organic food market will register remarkable growth in the coming years. The use of natural fertilizers for enhancing yield, quality, and immunity will drive the growth of the global biostimulants market. Biostimulants help in reducing the use of chemicals in crops and soil and are extensively used in seed treatment.
This market research report on the global biostimulants market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing popularity of precision farming as one of the key emerging trends in the global biostimulants market:
Global biostimulants market: Growing popularity of precision farming
Precision farming is growing in popularity owing to the limited availability of land and enhanced farming practices. In 2016, the global precision farming market is valued at more than USD 3.5 billion and will register significant growth during the forecast period. This method of farming uses biostimulants for increasing yield and productivity. In developed countries such as the US, Germany, the UK, and France, the increasing demand for precision farming will contribute significantly to the global biostimulants market.
“Precision farming is a farming management technique that uses few resources and reduces the production cost. It used smart sensors, satellites, high-precision positioning systems, and a range of IT applications for agricultural production. The technique provides insights on crop protection to farmers based on the soil fertility, moisture content, and chemistry,” says a senior analyst at Technavio for research on bio-chemicals and bio-materials.
Global biostimulants market: Segmentation analysis
This market research report segments the global biostimulants market by product (acid-based and extract-based), application (foliar, soil, and seed), and geographical regions (APAC, EMEA, and the Americas).
The foliar segment held the largest market share in 2017, accounting for nearly 75% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 45%. The market share occupied by this region is anticipated to decrease by nearly 2% during 2018-2022.
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- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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