Agriculture Biostimulant - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Agriculture Biostimulant Market is accounted for $3.19 billion in 2019 and is expected to reach $9.22 billion by 2027 growing at a CAGR of 14.2% during the forecast period. Increasing adoption of organic farming, easier availability of seaweeds as raw materials, and the rising awareness towards better plant nutrition are some of the factors propelling the growth of the market. However, commercialization of low-quality biostimulant products is hampering the growth of the market.
Agricultural biostimulants are biologically produced fertilizers that are used in crop production to enhance plant growth, health and productivity. A biostimulant boosts plant development and growth throughout the crop life cycle, i.e., from seed germination to plant maturity.
Based on the type, the acid-based segment is anticipated to hold considerable market share during the forecast period as these biostimulants act on chemical compounds such as calcium, iron, or phosphate, which are present in the soil to separate the cations from anions; thereby, releasing nutrients into the soil. By geography, Europe is expected to grow at a significant market share during the forecast period owing to the adoption of modern agricultural technology such as precision farming and plant biotechnology, and organic-based active ingredients.
Some of the key players profiled in the Agriculture Biostimulant Market include Valagro, BASF, Biolchim, Haifa, Isagro, Novozymes, Italpollin, Sapec Group, Koppert, and Platform Specialty Products Corporation.
• Seaweed Extracts
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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