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Global Biostimulants Market is projected to clock 12% CAGR from 2019 to 2027
Global Biostimulants Market is projected to clock 12% CAGR from 2019 to 2027
In terms of value, the global biostimulants market is anticipated to expand at a CAGR of ~12% from 2019 to 2027.

BiostimulantsMarket: Introduction

In terms ofvalue, the global biostimulants market isanticipated to expand at a CAGR of ~12% from 2019 to 2027.The arable land has been decreasing since the last 50 years due to the surge inpopulation and erosion of soil. Frequent plowing of fields and increase inusage of chemical-based fertilizers have led to substantial soil degradation.Erosion of soil has been occurring at 100 times greater pace than the rate ofsoil formation. Approximately 500 years are required for 2.5 cm of topsoil tobe created considering the ecological changes. According to the EuropeanCommission, the amount of land used for agricultural purposes in Europe islikely to decline between 2018 and 2030.The area is projected to decrease from 178 million ha(hectare) in 2018 to 176million ha in 2030. Thedemand for food is expected to increase due to an exponential rise inpopulation across the globe. According to the United Nations, the globalpopulation is anticipated to surpass 9 billion by 2050. Thisis projected to propel the demand for high yield crop solutions such asbiostimulants during the forecast period, thereby creating a positive outlookfor the biostimulants market.

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Lackof Awareness Regarding Benefits of Biostimulants to Hamper Market

The rate ofadoption of technologically advanced products is sluggish in agriculture andagriculture-related industries in developing economies such as India andBrazil. Conventional techniques are dominant in the agriculture sector indeveloping countries. Additionally, farmers are familiar with chemical-basedagro products, owing to their ease of availability and lower prices vis-à-visbio-based products. End users are reluctant to utilize advanced products, dueto financial constraints. They continue to use conventional agro products overinnovative agro products with better results and low impact on the environment.Thus, reluctance toward adoption of advanced products among farmers is a majorrestraint of the market

 

 

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Humic Acids & Fulvic Acids andFruits & Vegetables Products to Dominate Biostimulants Market

In terms ofproduct, the global biostimulants market has been divided into humic acids& fulvic acids, amino acids, microbial stimulants, seaweed, vitamins, andbiorationals. Among these, the humic acids & fulvic acids segment dominatedthe global biostimulants market in terms of revenue in 2018.Humic acids and fulvic acids increase the cation exchange capacity (CEC) of thesoil or any other substrate, thereby refining the soil capability to provideplants with crucial nutrients. Humic substances also facilitate electrochemicalpotential in the root zone. This boosts the uptake of nutrients. Humic andfulvic acids are intermediate chelators; they hold mineral ions in such a waythat they are not lost in the soil, but are made available to plants whenrequired. Humic substances form a passage between mineral cations and clayparticles.

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Commercial to be DominantApplication of Biostimulants Market

Based onapplication, the global biostimulants market has been segregated into fruits& vegetables, oilseeds & pulses, cereals & grains, turfs,landscapes, and ornamental flowers. The fruits & vegetables segment isanticipated to dominate the market from 2019 to 2027. Whenapplied to fruits and vegetables, biostimulants enhance several parameters ofthe crop quality, including color, firmness, sugar contents (BRIX), andpost-harvest quality. Biostimulants optimize the fruit size and cropuniformity. They stimulate cell division in young fruits. Biostimulants alsooffer nutrients vital for plant metabolic processes such as photosynthesis.This, in turn, increases the marketable yield.

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NorthAmerica to be Lucrative Region of Biostimulants Market

Based onregion, the global biostimulants market has been classified into North America,Latin America, Asia Pacific, Europe, and Middle East & Africa. Thebiostimulants market in North America is projected to expand at a CAGR of morethan 11% duringthe forecast period. North America is expected to offer significantopportunities to the biostimulants market during the forecast period. Lack of adefinite regulatory framework for biostimulants had been a challenge for marketparticipants until recently. However, the U.S. Agriculture Improvement Act of 2018,also identified as the 2018 Farm Billwas passed in December 2018. Itinvolved formal recognition of biostimulants and made significant provisionsfor them. The 2018 Farm Bill provided aclear boundary for distinguishing biostimulants from other agro products suchas fertilizers and pesticides. Defining biostimulants and forming a regulatorypath for their commercialization is expected to increase their adoption in thenext few years. This is projected to provide lucrative opportunities to thebiostimulants market in North America during the forecast period.

Competition Landscape

The globalbiostimulants market was highly fragmented, with various small- and medium-scaleproducers of biostimulants constituting nearly 60% share in 2018.Europe has been a lucrative region of the global biostimulants market forinvestors since the last few years. Of late, market participants haveundertaken significant expansion initiatives in Europe. In January2019, Premier Tech acquired TerreauxSTAR through itsbusiness unit called Premier Tech Horticulture France. The acquisition aimed toconsolidate Premier Tech’s presence in the horticulture sector in France andthe overall Europe region.

Keymanufacturers operating in the global biostimulants market include Syngenta,Novozymes A/S, Valagro SpA, Isagro S.p.A., Agrinos, Biolchim SPA, Premier TechLtd., Agriculture Solutions Inc., West Coast Marine Bio-Processing, Corp.,Italpollina S.p.A, Agricen, UPL, Koppert Biological Systems, Kelp ProductsInternational, and Haifa Group.

Thesustainability aspects have dramatically changes the raw material sourcingstrategies for many businesses in the biostimulantsmarket. Players have become more responsibletoward reducing or managing the waste, are adopting material informaticsequipped with artificial intelligence (AI), and adopting energy-efficientproduction processes in order to maximize returns on invested capital.

 

Regulations,both region-specific and global, have made massive influence on themicroeconomics of the materials and chemicals sector. Governments are intent onpromoting the reduce the carbon footprint of the entire chemical and materialsmanufacturing. As a result, forward-looking organizations in the biostimulants market arefervently looking for ‘green’ or low-carbon footprint processes across theentire the value chain. The trend has gained huge momentum from the growingawareness among customers of the affects that chemicals have on the ecology andenvironment.

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