According to the author, the global biostimulants market is expected to display a positive market trend over the forecast period of 2019-2027, exhibiting a CAGR of 12.46% and a CAGR of 11.05% in terms of revenue and in terms of volume, respectively.
The growing demand for organic food and rising sustainable farming help increase the adoption of biostimulants, thus, driving the growth of this market. Biostimulants have a major role to play in organic farming & gardening, and they are also witnessing healthy growth in conventional agriculture.
The expanding health-conscious consumer base around the globe is opting for organic food, to avoid adverse health effects caused by chemical preservatives or genetically modified ingredients of inorganic food. In response to the consumer demand for healthy food products with minimal environmental repercussions, farmers are looking for more efficient ways to use synthetic chemicals and mineral fertilizers.
Pesticides or fertilizers are not used in the production of organic food products; this has raised the demand for plant biostimulants. The need for bio-based agrochemicals and encouragement from European governments promoting sustainable agriculture are key opportunities helping the market to grow further. However, the market faces certain restraints and challenges, such as, insufficient knowledge regarding the use of biostimulants and the lack of standardization, which considerably limit the market growth.
North America, the Asia-Pacific, Latin America, Europe and the Middle East and Africa are the regions covered by the global biostimulants market.
APAC is the fastest-growing region in the global biostimulants market. China, Japan, India, Korea and Australia are the major contributors to the growth of this region. South Korea is anticipated to be the fastest-growing country in the Asia-Pacific market during forecast period 2019-2027.
The growing the importance of organic farming, need for enhanced productivity and the rising demand for high-quality agricultural products are the most significant factors that are expected to increase the use of biostimulants in the region, particularly in China, Japan and India.
A number of unauthorized or local players are operating in this market, due to absence of stringent regulations. Key leading players are introducing new, innovative biostimulants and taking initiatives to spread awareness about the benefits of utilizing sustainable agriculture inputs.
The companies that have been mentioned in the biostimulants market report are Microbial Discovery Group, Verdesian Life Sciences, Agroenzymas Group, Valagro S.p.A., Tradecorp International, OMEX Agrifluids Ltd., Micromix Plant Health Ltd., Koppert B.V., Italpollina S.p.A., Brandt Consolidated, Inc., Agrinos A.S., Lallemand Plant Care, Isagro S.p.A., Arysta LifeScience Corporation (acquired by UPL) and Eastman Chemical Company.
Italpollina S.p.A. was established in the early 70s with a notion to produce fertilizers that could increase the chemical, physical and biological fertility of soil. Currently, the company has a presence in over 70 countries worldwide, with 4 production plants and 13 commercial offices. Italpollina offers a wide variety of biotechnological and certified solutions for modern and sustainable agriculture.
In 2011, the company also created the biggest factory in the world for the production of biostimulants based on 100% vegetal amino acids and peptides. Italpollina S.p.A. manufactures and distributes fertilizers. It provides organic, nitrogen, phosphorus and potassium fertilizers; bio-stimulants; leaf liquid integrators; and amino acids. It offers its products under Fulet, Madeira, Phenix, ISIDE and GUANITO brand names.
Key Topics Covered
1. Global Biostimulants Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Research & Development - Key For Market Growth
2.2.2. Biostimulants Help In Higher Yields And Productivity
2.2.3. Defining Of Biostimulants In The United States Farm Bill 2018
2.3. Porter's Five Force Analysis
2.3.1. Threat Of New Entrants
2.3.2. Threat Of Substitute
2.3.3. Bargaining Power Of Suppliers
2.3.4. Bargaining Power Of Buyers
2.3.5. Threat Of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Regulatory Framework
2.7. Market Drivers
2.7.1. Rising Sustainable Farming Helps Increase Adoption Of The Market
2.7.2. Growing Demand For Organic Food
2.8. Market Restraints
2.8.1. Lack Of Awareness
2.9. Market Opportunities
2.9.1. Encouragement From European Governments
2.9.2. Need For Bio-Based Agrochemicals
2.10. Market Challenges
2.10.1. Lack Of Standardization
3. Global Biostimulants Market Outlook - By Type (In Terms Of Value: $ Million & In Terms Of Volume: Thousand Hectares)
3.1.1. Humic Acid
3.1.2. Fulvic Acid
3.1.3. Amino Acid
3.2.1. Seaweed Extracts
3.2.2. Other Plant Extracts
3.3.2. Chitin & Chitosan
3.3.3. Microbial Soil Amendments
4. Global Biostimulants Market Outlook - By Crop Type (In Terms Of Value: $ Million & In Terms Of Volume: Thousand Hectares)
4.1. Row Crops & Cereals
4.2. Fruits & Vegetables
4.3. Turfs & Ornaments
4.4. Other Crops
5. Global Biostimulants Market Outlook - By Application (In Terms Of Value: $ Million & In Terms Of Volume: Thousand Hectares)
6. Global Biostimulants Market - Regional Outlook (In Terms Of Value: $ Million & In Terms Of Volume: Thousand Hectares)
6.1. North America
6.4. Latin America
6.5. Middle East & Africa
7. Competitive Landscape
7.1. Eastman Chemical Company
7.2. Arysta Lifescience Corporation (Acquired by UPL)
7.3. Isagro S.P.A.
7.4. Lallemand Plant Care
7.5. Agrinos A.S.
7.6. Brandt Consolidated, Inc.
7.7. Italpollina S.P.A.
7.8. Koppert B.V.
7.9. Micromix Plant Health Ltd.
7.10. Omex Agrifluids Ltd.
7.11. Tradecorp International
7.12. Valagro S.P.A.
7.13. Agroenzymas Group
7.14. Verdesian Life Sciences
7.15. Microbial Discovery Group
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