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biostimulants market report

Biostimulants To Witness A Huge Market Growth In The Coming Years – Biostimulants Market Report

Biostumulants – A brief introduction-

Biostumulants can be defined as any substance or microorganism applied to plants with the aim of enhancing their nutrition efficiency, abiotic stress tolerance and crop quality traits irrespective of its nutrient contents.

The definition of Biostumulants extends to commercial products that contain mixtures of such microorganisms and/or substances. The word Biostumulants as per horticultural experts is those substances that promote plant growth without the necessity of nutrients, soil improvers or pesticides. G.L. Kauffman, D.P. Kneivel, T.L. Watschke (2007) in a peer review paper defined the word Biostumulants as “materials other than fertilizers that promotes plant growth when applied in low quantities.”

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Global Biostumulants market – An analysis

The use of natural plant Biostumulants as an innovative solution to address the challenges to sustainable agriculture thereby ensuring optimal nutrient uptake, crop yield, quality and tolerance to abiotic stress leading to the demand for Biostumulants with the global Biostumulants market analysis projected to reach U.S. $2.5 billion by 2022. This growth can be attributed to the growing focus of the governments across the globe to make agriculture more sustainable, efficient and effective.

The Biostumulants market report ranks Asia-Pacific region as the fastest growing Biostumulants market growth with a CAGR of 12.3% due to the following below mentioned factors-

  • Focus on improving farm productivity
  • Growing awareness among farmers over crop economies and risk management
  • A positive approach towards strong policy level support from the respective governments for the adoption of environment friendly agricultural inputs

The Biostumulants market outlook is buoyant in European countries such as France, United Kingdom, and Hungary as Biostumulants market in these economies are better regulated when compared with developing nations. The Row Crops such as oilseeds, cereals, pulses account for having the land with a large scale of acreage for the applications of Biostumulants that further provides a strong platform for global Biostumulants market by 2021. The Biostumulants market report projects that in the coming decades, the innovative product formulation from seaweed extracts and microbials would boost the global Biostumulants market size due to high growth of seaweed cultivation in the aquaculture farms of Southeast Asian nations such as Indonesia, Philippines and Thailand. In addition, the concerns over the availability of raw material for seaweed extract in manufacturing Biostumulants formulations is now slowly diminishing.

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An overlook on Biostumulants market by active ingredients

Plant Biostumulants (PBS) formulations are usually proprietary compositions that are based on seaweed extracts, complex organic materials, plant hormone compounds like amino acids and humic acids. Therefore, the Biostumulants market by active ingredients is aptly divided into two segments as tabulated herein under with each of the Biostumulants falling under these two categories or segments-

                              Acids                      Extracts
Humic Acids Sea Weed Extracts
Fulvic Acids Other Plant Extracts
Amino Acids Microbial
Other active ingredients Trace Minerals
Vitamins

 

Acid based Biostumulants accounted for the largest market share with Asia – Pacific region for Biostumulants market by active ingredients expected to present new opportunities for global and regional niche players to enter the markets in these regions. The Biostumulants market forecast for North America is expected to witness a moderate growth because of increasing preference for bio-based products in the region. Latin America is expected to be the future market for Biostumulants market with this region expected to present newer opportunities for global and regional niche players to enter the markets in these regions.

Global Biostumulants market size-

The global Biostumulants market is dominated currently by a few handfuls of organizations that are promoting the use of Biostumulants even though there are issues arising out of nonexistence of proper standards for Biostumulants and in framing some regulatory guidelines for the use of such products. Europe continues to dominate the global Biostumulants market size in 2015 in terms of revenue accounting for more than 34% of revenue share. The European Biostumulants market is expected to retain the number one ranking or position throughout the Biostumulants market forecast period for a few decades. In addition, the establishment of European Biostumulants Industry Council (EBIC) has extensively influenced the Biostumulants market in this region.

However, the Asia-Pacific Region is fast catching up in the Biostumulants market and is emerging as the one of the largest consumers of Biostumulants. China and India, which are major agricultural countries of this region, are emerging as the new hot spots for Biostumulants industry as the respective governments’ awareness programs are supporting the establishment of Biostumulants products for different types of crops in the region.

Some of the major companies in the arena of Biostumulants as per the global Biostumulants market report are Omex Agrifluids Ltd, The Dow Chemical Company, BASF SE, Trade Corporation International, and Koppert B.V.

An increasing demand for organic foods and a rising awareness about organic farming is another factor that is stimulating the global Biostumulants market share to expand further. Overall, it can be concluded that Biostumulants have the potential to increase ability to extract the genetic potential of the crops thereby boosting the global agricultural growth.

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