Potential Impact of COVID-19 Pandemic on Global Biostimulant
During the start month of 2020, the pandemic has resulted in lockdown mostly all over the world. The lockdown resulted in disruption in the supply and demand chain. The agriculture sector has to suffer from various problems such as labor unavailability, inability to access markets, and lack in the availability of fertilizers, among others.
The supply chain includes transportation which was disturbed and hence demands for fertilizers if it was there; it was not fulfilled by the manufacturer. On the other hand, fertilizer manufacturers were facing issues in collecting raw materials. Lack of raw material availability has led the biostimulant manufacturer in reducing the production of fertilizers. Along with this many manufacturing facilities were made shut to maintain the social distancing which decreases the production of fertilizers that includes biostimulants as well.
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Global Biostimulants Market
Global Biostimulants Market By Active Ingredients (Acid Based, Extract Based, Protein Hydrolysates, Microbial Amendments, Chitin, Chitosan, B-Vitamins, Others), Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Turf & Ornamentals, Other Crops), Application Method (Foliar Treatment, Soil Treatment, Seed Treatment), Form (Liquid, Dry), End User (Farmers, Related Industries, Research Institutes), Origin (Natural Biostimulants, Synthetic Biostimulants), Distribution Channel (Direct, Indirect), Country (U.S., Canada and Mexico, Germany, U.K., France, Italy, Switzerland, Spain, Russia, Belgium, Netherlands, Turkey and Rest of Europe, China, Japan, South Korea, India, Singapore, Australia, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel and Rest of Middle East and Africa).
Global Seaweed Extracts Biostimulant Market
Seaweed extracts biostimulant market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 12.6% in the forecast period of 2020 to 2027 and expected to reach USD 1,808.78 million by 2027 from USD 709.50 million in 2019. Rising demand of organic food is expected to drive the growth of the market
Seaweeds are the plants which have been grown in the sea. Seaweeds are also known as marine microalgae generally attached to hard substrata of coastal areas. These plants comprises of various marine algae such as kelps, dulses, rockweeds and sea lettuce. Seaweed extracts is an organic fertilizer containing vitamins, fatty acids, macro and micro nutrient.
Regular product launches in seaweed extracts biostimulant have enabled providers to increase product range with different applications. New developments have also increased functionality and ease of use of the products. This factor will in turn increase the customer base for the companies.
California Biostimulants Market
Biostimulants market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a stronger CAGR of 13.8% in the forecast period of 2020 to 2027. Increasing need for sustainable agriculture and high agricultural production in California are the factors driving the market growth.
Biostimulants contains a large number of biological materials, microorganisms and compounds which when provided to crops, seeds or soil shows improvement in plant, increase crop yields and minimize plant pressure. In the era of sustainable agriculture, biostimulant is found to be one of the best solutions which have the capacity to provide high crop productivity. Increasing agriculture sector in California helps the market to gain a substantial growth. Demand for biostimulant is increasing due to its multiple benefits hence manufacturers are engaged in providing new products in market. Brandt Consolidated, Inc. provides multiple biostimulant products in California.
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· Global biostimulants market is expected to grow at 12.5% cagr in the forecast period of 2020 to 2027