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The Global Biostimulants Market is accounted for $1.50 billion in 2016 and expected to grow at a CAGR of 14.1% to reach $3.79 billion by 2023. The market is expected to grow gradually due to growing importance for organic products in agriculture industry. Rising government funding and increasing concerns regarding sustainable agriculture has broaden the scope for biostimulant manufacturers. On the other hand, huge R&D costs and lack of awareness about biostimulants products are inhibiting the market growth.
Foliar application segment accounted for the largest market share throughout the forecast period. Acid-based biostimulants segment commanded the largest market share, because raw materials for these biostimulants are obtained easily and highly efficient compared to other ingredients. Based on crop type, Row crops segment dominated the market followed by fruits & vegetables segment. Europe accounted for the largest share of the global market followed by North America. Asia Pacific region is expected to be the fastest growing market due to the strong demand to improve crop productivity of cereals and oilseeds within the agricultural practices.
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Some of the key players in Global Biostimulants Market are Agrinos AS, Atlantica Agricola, Biostadt India Ltd, Brandt Consoliated Inc, Ilsa SPA, Isagro S.P.A., Italpollina SPA, Koppert B.V., Laboratoires Goemar S.A.S, Micromix Plant Health Ltd, Omex Agrifluids Ltd, Taminco, Tradeecorp Internationals, Valagro SPA, Arysta Lifescience Corporation and Lallemand Plant Care.
Crop Types Covered:
Fruits & Vegetables
Turf & Ornamentals
Row Crops & Cereals
Other Crop Types
Active Ingredients Covered:
Other Plant Extracts
Other Active Ingredients
Chitin & Chitosan
Microbial Soil Amendments
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Pilatus-Arysta Lifescience Corporation
Rest of Europe
Rest of Asia Pacific
Rest of the World
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