DUBLIN--(BUSINESS WIRE)--The "Biostimulants Market by Active Ingredient (Humic Substances, Amino Acids, Seaweed Extracts, Microbial Amendments), Crop Type (Fruits & Vegetables, Cereals, Turf & Ornamentals), Application Method, Form, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The biostimulants market is estimated to be valued at USD 2.6 billion in 2019 and is projected to grow at a CAGR of 11.24%, to reach USD 4.9 billion by 2025. The growth of the biostimulants market is driven by an increase in the need for sustainable agriculture; easier availability of certain raw materials, namely, humic acids and seaweeds; and a strong demand for high-value crops such as fruits, vegetables, and plantation crops. However, due to the lack of transparency in the patent protection law in various countries, low-quality products are being produced. Thus, duplication during biostimulant product formulation is restraining the growth of the biostimulants market.
The fruits & vegetable segment held the dominant market share in the biostimulants market, based on crop type.
Biostimulants can be used for all major crop types across the globe. The major crops considered in the biostimulants market include melons, leafy vegetables, tomatoes, potatoes, cotton, corn, and wheat. The dosage and the impact of the product vary with respect to different crops.
Based on crop type, fruits & vegetables dominated the biostimulants market, in terms of value, in 2018. This was mainly due to the higher application of biostimulants to crops such as tomatoes, cucumbers, potatoes, grapes, peppers, broccoli, and strawberries. Also, it helps to enhance the characteristics of the produce, including higher sugar content, rich color, and fruit development and enlargement.
High growth is projected in the Asia Pacific biostimulants market during the forecast period.
The Asia Pacific region is projected to be the fastest-growing market for the period considered in this study. This is due to the requirement to increase crop yield and weak regulatory system, particularly in India and other Southeast Asian countries. Furthermore, many companies are investing in this region through organic and inorganic strategies. For instance, Arysta LifeScience (now under UPL) launched around nine biostimulant products in the Chinese market in 2017, while Valagro, one of the leading companies in the production and marketing of biostimulants, launched two new products such as Opifol and YieldOn in the Indian market, in 2018. Thus, increase in the number of product launches in the region boosts the demand for biostimulants.
Leading players profiled in this report:
- BASF (Germany)
- Valagro (Italy)
- Bayer (Germany)
- UPL (India)
- Biolchim (Italy)
- Isagro (Italy)
- Italpollina (Italy)
- Syngenta (Switzerland)
- FMC Corporation (US)
- Adama (Israel)
- Koppert (the Netherlands)
- Acadian Seaplants (Canada)
- Biovert (Spain)
- Haifa Group (Israel)
For more information about this report visit https://www.researchandmarkets.com/r/k27fwx
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