Food and Beverages Research

Market Scenario

Biostimulants Market is considered to register 11.09% CAGR during the estimated period (2017-2023) owing to the rising awareness of organic farming, asserts Market Research Future (MRFR). Bio stimulant is referred to as a biological extract or substance which is used as plant supplements to enhance the abiotic stress tolerance, nutrition efficiency, and others, regardless of the nutrient contents. It is a microorganism or a substance which stimulate the plant growth and increases the nutrient availability, metabolism, water holding capacity, and production of chlorophyll. Bio stimulants are extensively used on fruits, cereals, and vegetables.

Drivers and Constraints

With increasing awareness regarding organic farming and the adverse effects associated with the use of chemical fertilizers, the global market for bio stimulants is considered to flourish during the assessment period. Crop productivity and crop health is directly proportional to the quality of soil. Bio stimulants impart additional nutrients and act as a growth factor which is important for plant metabolic activities and in altering soil to improve crop yield. They are also used in restoring the degraded soil by regulating soil pH. Such factors trigger the demand for bio stimulants across the globe. With the accelerating demand for organically produced food, the demand for bio stimulants is increasing. Additionally, the augmenting level of investment in research activities in order to identify the right formulation and organic molecules to improve the plant metabolism and enhance the performance of the plant in a short span in a cheaper way, further influences the market growth. Bio stimulants are also used in diverse spectrum including agriculture and horticulture.

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On the flip side, low innovation in product development is estimated to dampen the market growth during the appraisal period. Product development comprise observing plants and their ecosystem. Extensive research is required in order to invent new bioactive compounds, understand how synergies offer strong effects than any single microorganism, and also identify beneficial microorganisms. Almost 2 to 5 years is required to introduce a new bio stimulant product in the market. Monitoring the crops to decide the way of application and time during the development of product is a bigger challenge. Moreover, lack of understanding and knowledge related to the use of bio stimulant coupled with the regulatory constraints are some of the major concerns considered to impede the market growth in the coming years.

Key Players

The prominent players operating the Global Bio-Stimulants Market are

• Sapec Group (Trade Corporation International) (Spain),
• Koppert B.V (The Netherlands),
• Italpollina (Italy),
• Arysta Life Science Limited (Japan),
• BASF SE (Germany),
• Isagro S.P.A (Italy)
• Valagro S.P.A (Italy)

Industry Updates

April 30, 2018: Biostimulant Coalition has recently announced its participation in the first agribusiness biostimulant conference, AgriBusiness GlobalSM Biostimulant CommerceCon, in Arizona, USA. The event can be the basis for discussing future trends which can dominate the future path of the market.

Segment Analysis:

The global bio stimulants market has been segmented on the basis of type, crop type, application, active ingredient, acid-based ingredients, extract-based ingredients, and region.

By mode of type, the global bio stimulants market has been segmented into natural and synthetic. Among these, the natural bio stimulant segment is presumed to dominate the global market owing to the augmenting demand for clean and organic label food product which has increased in the recent times.

By mode of crop type, the global bio stimulants market has been segmented into row crops, fruits & vegetables, turfs & ornaments, and others. Among these, the row crop segment is considered to dominate the global market and is estimated to expand at a CAGR of 10.9% during the forecast period.

By mode of application, the global bio stimulants market has been segmented into foliar treatment, seed treatment, and soil treatment.

By mode of active ingredient, the global bio stimulants market has been segmented into extracts, acid based, and others. Among these, the acid-based bio stimulant is estimated to dominate the global market closely followed by extract-based.

By mode of acid-based ingredients, the global bio stimulants market has been segmented into fulvic acid, humic acid, and amino acid.

By mode of extract-based ingredients, the global bio stimulants market has been segmented into plant, microbial, and seaweed. Among these, the seaweed extract is considered to experience the fastest growth rate as the usage of seaweed as a source of fertilizer and an organic matter in agriculture has been practiced since years. Its application as a bio stimulant has gained popularity in the recent times.

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Regional Insights

Geographically, the bio stimulants market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (ROW).

Among these, Europe is considered to experience the highest adoption rate of bio stimulants in the agriculture industry owing to the augmenting awareness and high requirement for fruit and field crops such as pears, apples, cotton, peaches, and corn. The region is presumed to expand at CAGR of 11.22% in the coming years.

The Asia-Pacific region is predicted to register as the fastest growing region in the bio stimulants market and high growth in economies such as India, China, Australia, Japan, and the Latin American countries. The growth is attributed to the ample opportunities offered for expansion to the major players. Moreover, the significant growth of sustainable agriculture practices to meet export quality standards has strengthened the market potential for bio stimulant manufacturers in the local markets.