LONDON--(BUSINESS WIRE)--The global biostimulants market is expected to post a CAGR of more than 12% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growing consumer demand for organic food products is encouraging farmers to adopt organic farming practices. Biostimulants are widely being used in the form of vermicompost, composted urban waste, protein hydrolysate, and chitin/chitosan derivates in organic farming. This is because biostimulants improve the quality and yield of crops and also enhance productivity. With the growing consumer focus on healthy food products, the demand for biostimulants will increase significantly during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40738
As per Technavio, the reduction in arable land will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Biostimulants Market: Reduction in Arable Land
Factors such as rapid industrialization, urbanization, and the expansion of population have led to the reduction of arable land across the world. In addition, inappropriate agricultural practices and deforestation have reduced the fertility of the available arable land. During the forecast period, the demand for food is expected to rise significantly owing to the increase in the global population. These factors are expected to increase the use of biostimulants to improve crop yield so as to meet the growing requirement for food. Therefore, reduction in arable land is one of the key trends which is anticipated to boost the growth of the global biostimulants market.
“Global initiatives to improve agricultural output and upcoming regulations encouraging the use of biostimulants will further boost market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Global Biostimulants Market: Segmentation Analysis
This market report segments the global biostimulants market by geography (APAC, Europe, MEA, North America, and South America), product (acid-based, extract-based, and others), crop type (raw crops and cereals, fruits and vegetables, turfs and ornaments, and others) and application (foliar, soil, and seed).
The Europe region led the market in 2019, followed by APAC, North America, South America, and MEA respectively. During the forecast period, the Europe region is expected to maintain its dominance over the market. This is due to the rise in the production of fruits and vegetables in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.