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Thursday, 27 April 2017
New Report sheds light on the Biostimulants Market 2017 to 2022
Biostimulants Market - Forecasts from 2017 to 2022 is a new market research publication announced by Reportstack. Global Biostimulants market is projected to grow at a CAGR of 11.08% over the forecast period to reach US$2,755 million in 2022, from US$1466.272 million in 2016. Biostimulants are enzymes, seaweed, plant hormones, microorganisms and trace elements that are applied to the plants or soil to improve crop vigor, quality, yield, and tolerance to abiotic stresses.
The global biostimulants market is majorly driven by the need for an increase in yield per hectare owing to rising global population and their demand for food. Supportive government initiatives and increased funding and grants for sustainable agriculture are further fuelling the demand for biostimulants. Biostimulants are increasingly finding applications in agriculture and horticulture sector owing to the benefits such as improved metabolism, water holding capacity, chlorophyll, and antioxidants production. Increasing demand for organic food products owing to growing awareness about good health and fitness leads to the expansion of organic farming across the globe which is, in turn, will augment the demand for biostimulants in the next five years. Other factors such as declining farmland and requirement of sustainable solutions for agriculture production will also propel the growth of biostimulants market in the near future. However, high R&D costs and lack of awareness about the various biostimulants products, particularly in emerging economies, will restrain the market growth during the forecast period.
Europe holds the largest share of the global biostimulants market owing to rising demand for sustainable agricultural products and increase farm profitability. However, APAC region will witness the fastest market growth due technological advancements and growing awareness regarding benefits of organic food products in the region.
Thirdly, Biostimulants market has been segmented on the basis of active ingredients, crop type, application, and geography as follows:
By Active Ingredients Acidic Biostimulants Extract Biostimulants By Crop Type Fruits Vegetables Turfs Ornamentals Row Crops By Application Foliar Soil Seed By Geography Americas North America US Canada Mexico Others South America Brazil Argentina Others Europe Middle East and Africa Europe United Kingdom Germany France Italy Spain Others Middle East and Africa Asia Pacific Japan China India Australia Others Market Players
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Italpollina, BASF, Bayer, Syngenta, BioAg Alliance, Biostadt and Koppert BV among others.