Global Biostimulants Market was Valued at US$ 2,684.3 Mn in 2018, Increase in the R&D for the Development of Newer Products
“The Global Biostimulants Market was valued around US$ 2,684.3 Mn in 2018 and growing at prominent growth rate over the next seven years of forecast years 2019-2025 owing to surge in R&D for the development of newer products”
The global biostimulants market accounted for US$ 2,684.3 Mn in 2018 and the market is burgeoning at noticeable growth rate over the forecast years due to surge in the adoption of biostimulants and increase in demand for organic agricultural practices in emerging countries. Furthermore, increase in the preference for quality food products, low price of products due to better availability of raw materials, entry of market players into biochemical segment, rise in R&D for the development of innovative products, and government support for the organic farming are expected to boost the biostimulants market over the forecast years. However, short shelf life of bio-based products, lack of regulations for the commercialization of biostimulants in underdeveloped countries, and high R&D expenditure are deter the global biostimulants market over the forecast years.
Global biostimulants market segmented on the basis of active product type, mode of application, formulation, crop type, and region
Request Sample Report:
Acid-based Biostimulants Dominate the Global Biostimulants Market
Based on the product type, global biostimulants market segmented into acid-based, extract-based, and others. Acid-based biostimulants contributed largest share the global biostimulants market in 2018 and the segment is expected to burgeon at 8.6% CAGR over the forecast years owing to better efficacy with the products compared with other biostimulants. Moreover, competitors are focus on the development and launch of newer products to enhance its revenue in biostimulants market. For instance, in November 2017, Tradecorp launched a new range of 100% vegetal amino acid biostimulants in order to be efficient and to take the extreme benefits from plants. Moreover, extract-based biostimulants also growing at prominent growth rat owing to better availability of raw materials.
North America Leads the Global Biostimulants market
PBI’s global Biostimulants market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among all the regions, North America contributed the global biostimulants market in 2018 with an approximate share 36.9% and projected to account larger revenue share over 2019-2025 owing to rise in the adoption of organic agriculture farming, rise in preference for quality food products, supportive regulatory policies, and presence of huge number of market players in the region. Europe biostimulants market projected to grow at significant CAGR due to government initiations for the organic agriculture farming, rise in adoption of innovative products, and high awareness about the biostimulants in the region.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global biostimulants market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance.
In May 2019, Futureco Bioscience developed Radisan, a biostimulants for the growth of root system to improve the structure and strengthen the plant
Key player’s profiles in the report are Bayer CropScience AG (Germany), BASF SE (Germany), Koppert Biological Systems (Netherlands), Novozymes A/S (Denmark), Isagro SPA (Italy), Platform Specialty Products Company (USA), Valagro SpA (Italy), Sapec Group (Portugal), Italpollina SpA (Italy), and Biostadt India Ltd (India),
Precision Business Insights (PBI) in its report titled “Global Biostimulants Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Product Type
• Amino Acid
• Humic Acid
• Fulvic Acid
• Seaweed Extracts
• Microbial Soil Amendments
• Chitin & Chitosan
By Mode of Application
o Foliar Spray
o Seed Treatment
o Soil Treatment
By Crop Type
o Cereals and Grains
o Oilseeds and Pulses
o Fruits and Vegetables
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
For More Information:
Precision Business Insights is one of the leading market research and management consulting firm, run by a group of seasoned and highly dynamic market research professionals with a strong zeal to offer high-quality insights.
Senior Business Development Executive
Email @ email@example.com
Call @ +1-866-598-1553
Precision Business Insights Toll Free (US): +1-866-598-1553
Website @ https://www.precisionbusinessinsights.com