Biostimulants Market: Introduction
In
terms of value, the global biostimulants
market is anticipated 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 in
population and erosion of soil. Frequent plowing of fields and increase in
usage of chemical-based fertilizers have led to substantial soil degradation.
Erosion of soil has been occurring at 100 times greater pace than the rate of
soil formation. Approximately 500 years are required for 2.5 cm of topsoil to
be created considering the ecological changes. According to the European
Commission, the amount of land used for agricultural purposes in Europe is
likely to decline between 2018 and 2030. The area is
projected to decrease from 178
million ha (hectare) in 2018 to 176 million ha
in 2030.
The demand for food is expected to increase due to an exponential rise in
population across the globe. According to the United Nations, the global
population is anticipated to surpass 9
billion by 2050. This
is projected to propel the demand for high yield crop solutions such as
biostimulants during the forecast period, thereby creating a positive outlook
for the biostimulants market.
Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11099
Lack of Awareness Regarding Benefits of Biostimulants
to Hamper Market
The
rate of adoption of technologically advanced products is sluggish in
agriculture and agriculture-related industries in developing economies such as
India and Brazil. Conventional techniques are dominant in the agriculture
sector in developing countries. Additionally, farmers are familiar with
chemical-based agro products, owing to their ease of availability and lower
prices vis-à-vis bio-based products. End users are reluctant to utilize
advanced products, due to financial constraints. They continue to use
conventional agro products over innovative agro products with better results
and low impact on the environment. Thus, reluctance toward adoption of advanced
products among farmers is a major restraint of the market
Humic Acids & Fulvic Acids and Fruits &
Vegetables Products to Dominate Biostimulants Market
In
terms of product, the global biostimulants market has been divided into humic
acids & fulvic acids, amino acids, microbial stimulants, seaweed, vitamins,
and biorationals. Among these, the humic acids & fulvic acids segment
dominated the global biostimulants market in terms of revenue in 2018. Humic acids
and fulvic acids increase the cation exchange capacity (CEC) of the soil or any
other substrate, thereby refining the soil capability to provide plants with
crucial nutrients. Humic substances also facilitate electrochemical potential
in the root zone. This boosts the uptake of nutrients. Humic and fulvic acids
are intermediate chelators; they hold mineral ions in such a way that they are
not lost in the soil, but are made available to plants when required. Humic
substances form a passage between mineral cations and clay particles.
Purchase A Report- https://www.transparencymarketresearch.com/checkout.php?rep_id=11099<ype=S
Commercial to be Dominant Application of Biostimulants
Market
Based
on application, the global biostimulants market has been segregated into fruits
& vegetables, oilseeds & pulses, cereals & grains, turfs,
landscapes, and ornamental flowers. The fruits & vegetables segment is
anticipated to dominate the market from 2019 to 2027. When
applied to fruits and vegetables, biostimulants enhance several parameters of
the crop quality, including color, firmness, sugar contents (BRIX), and
post-harvest quality. Biostimulants optimize the fruit size and crop
uniformity. They stimulate cell division in young fruits. Biostimulants also
offer nutrients vital for plant metabolic processes such as photosynthesis.
This, in turn, increases the marketable yield.
North America to be Lucrative Region of Biostimulants
Market
Based
on region, the global biostimulants market has been classified into North
America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The
biostimulants market in North America is projected to expand at a CAGR of more
than 11% during
the forecast period. North America is expected to offer significant
opportunities to the biostimulants market during the forecast period. Lack of a
definite regulatory framework for biostimulants had been a challenge for market
participants until recently. However, the U.S. Agriculture Improvement Act
of 2018,
also identified as the 2018 Farm
Bill was passed in December
2018. It involved formal recognition of biostimulants and made
significant provisions for them. The 2018 Farm
Bill provided a clear boundary for distinguishing biostimulants from other agro
products such as fertilizers and pesticides. Defining biostimulants and forming
a regulatory path for their commercialization is expected to increase their
adoption in the next few years. This is projected to provide lucrative
opportunities to the biostimulants market in North America during the forecast
period.
Competition Landscape
The
global biostimulants market was highly fragmented, with various small- and
medium-scale producers of biostimulants constituting nearly 60% share
in 2018.
Europe has been a lucrative region of the global biostimulants market for
investors since the last few years. Of late, market participants have
undertaken significant expansion initiatives in Europe. In January 2019, Premier
Tech acquired TerreauxSTAR through its business unit called Premier Tech
Horticulture France. The acquisition aimed to consolidate Premier Tech’s
presence in the horticulture sector in France and the overall Europe region.
Key
manufacturers operating in the global biostimulants market include Syngenta, Novozymes A/S, Valagro
SpA, Isagro S.p.A., Agrinos, Biolchim SPA, Premier Tech Ltd., Agriculture
Solutions Inc., West Coast Marine Bio-Processing, Corp., Italpollina S.p.A,
Agricen, UPL, Koppert Biological Systems, Kelp Products International, and
Haifa Group.
Get Trending Report- https://www.prnewswire.com/news-releases/keen-interest-and-veritable-initiatives-of-energy-departments-to-assist-water-security-programs-influences-growth-in-produced-water-treatment-market-valuation-estimated-at-us187-4-bn-by-2031-tmr-301272569.html
