ALBANY, New York, November 6, 2018
ALBANY, New York, November 6, 2018 /PRNewswire/ --
The global Biostimulants Market is anticipated to grow at a stellar rate owing to rising demand of the market product during the forecast period 2017 - 2025. According to Transparency Market Research, the players in the market are likely to have numerous growth opportunities in the years to come. Major players in the market in order to expand their stretch to various parts of the world, are going into a strategic partnership such as mergers, and acquisitions. Huge market potential is drawing attention for new market players to enter in the market. Presence of numerous small, medium, and established players have resulted the market to be highly fragmented in nature. Some of the major players in the market are Syngenta, Italopolina S.p.A., Koppert Biological Systems, Premier Tech Ltd., Kepgrow, Agriculture Solutions Inc., and Biolchim S.p.A.
According to TMR, the global market for biostimulants is anticipated to expand at a robust rate of 12.8% CAGR during the assessed period. The market which was valued at US$5.93 bn in recent years is likely to rise and touch US$20.05 bn by the end of the tenure period. The market for biostumulants on the basis of products can be segregated into seaweed, minerals, microbial stimulants, microbial, amino acids, fulvic acids, and humic acids. Of these seaweed segment is predicted to grow significantly and contribute the most in terms of revenue owing to extensive use of seaweed extracts in healthcare products and gradual shift from chemical fertilizers. On the geographical standpoint, the market is dominated by Europe owing to presence of major players in the region. Europe is likely to expand at a steady CAGR of 12.9% during the assessed period. North America to follow Europe.
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Demand for Ecofriendly Agro Products to Bolster Sales Rate
Incessant rise in population along with gradual decline of farmland all around the world has made the food and beverage manufacturers to pull out all the restrictions that is stopping the land to reach its full potential in order to have a better yield. These has made the farmers to extensively use various fertilizers and chemical pesticides, which have made significant negative impact on the environment itself. It has also increased number of health related cases. These factors have made the farmers to give up synthetic stimulants and uptake biostimulants. Significant growth of environmental concerned population and rising awareness among consumers regarding various adversarial impact caused on human health after consuming chemically grown vegetables and fruits.
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Lack of Awareness among Farmers to Hamper Market Growth
Various initiatives undertaken government of various countries is helping the market to gain momentum. However, lack in awareness among farmers regarding the benefits associated with biostimulants is prognosticated to take a toll on the growth of the market. New cultivating process owing to advancement in technology and advent of efficient equipment is foreseen to create new paths for the market in coming years. Various strategies taken by players to increase the product portfolio for broad acre crops. Apart from these, emerging economies countries are expected to provide a strong potential for market grow.
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This review is based TMR's report titled, "Biostimulants Market (Product - Humic Acid, Fulvic Acid, Amino Acids, Microbial Stimulant, Seaweed, Vitamins, and Biorationals; Application - Oilseeds and Pulses, Cereals and Grains, and Fruits and Vegetables) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2017 - 2025."
The market is segmented along the following lines:
Global Biostimulants Market, by Product
Global Biostimulants Market, by Application
Global Biostimulants Market, by Region/Country/Sub-region
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