Northbrook, IL -- (SBWIRE) -- 10/14/2021 -- The biostimulants market is estimated to account for USD 2.6 billion in 2019 and is projected to reach USD 4.9 billion by 2025, at a CAGR of 11.24% during the forecast period. The market is primarily driven by the strong market demand for high-value crops across the globe and the increasing need to support crop growth due to abiotic stress, arising from changing climatic conditions. In addition, technological advancements by the key players in most of the regions have led to high demand for biostimulant products.

Download PDF Brochure

The seaweeds extracts segment is projected to grow at the highest rate during the forecast period.

Extracts from marine algae, known as seaweed extracts, are marketed to be used in the agriculture industry. Intensive research on biostimulants and plant nutritional products has increased the awareness pertaining to the benefits of seaweed extracts in agriculture. Application of seaweed extracts in agriculture not only reduces the side effects of harmful agrochemicals but also helps in protecting the environment. High marine culture and seaweed production in the Asian countries is projected to drive the seaweed extracts segment in this region, wherein low-value production of seaweed extracts by the Indian and Chinese domestic players can be observed.

The foliar treatment segment is estimated to dominate the biostimulants market in 2019.

Foliar spray application is one of the most widely used methods of using biostimulants, to maximize production efficiency. The direct application on leaves through the foliar application method is considered the most effective way of supplying nutrients to plants, resulting in the rapid absorption and enhancement of micronutrient intake in each part of the shoots and roots. Moreover, the foliar application method is found to be a highly effective way of utilizing biostimulants for fruit & vegetable crops.

With the introduction of stringent regulations, Europe is estimated to dominate the biostimulants market in 2019.

The biostimulants market in Europe is driven by the adoption of modern agricultural technology such as precision farming, plant biotechnology, and organic-based active ingredients. The increasing awareness of consumers about the benefits of biostimulants is expected to contribute to market growth. Moreover, the European legislation is in the process of recognizing biostimulants as important plant nutrition, and have paved the way toward a regulated environment for these products. Moreover, biostimulant products were initially applied only on high-value crops such as fruits and vegetables in Europe. However, the industrial importance has transformed some broad-acre crops such as corn and wheat into high-value crops, resulting in the increased use of biostimulants for these crops.

Make an Inquiry

Key companies in the global market are BASF (Germany), Isagro (Italy), Valagro (Italy), Bayer (Germany), Italpollina (Italy), Koppert Biological Systems (Netherlands), Acadian Seaplants (Canada), UPL (India), and Biolchim (Italy). Various strategies such as acquisitions, joint ventures, and new product launches were adopted by the companies to enter the biostimulants market.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441