Biostimulants Market Value to Triple by 2029; Rising Consumption of Horticulture-bases Crop Produce Drives Growth, Says a New Future Market Insights Study

in the biostimulants market are investing in research & development
activities, and are focusing on the expansion of supply and distribution
through all possible trade channels to sustain the positive growth trajectory.

Market Insights, Dubai:
Theglobal biostimulants market is set to grow at a
stellar CAGR of 11% during the forecast period (2019-2029), witnessing 3X
growth in revenues. As projected by a new report of Future Market Insights (FMI),
the growth of market is primarily fueled by the growing preference for
bio-based ingredients in agrochemicals and crop growth additives, and a
measurable rise in agricultural and horticultural production around the globe.

“The prevalence of
organic farming is creating demand for raw materials, thereby propelling the
biostimulants market. Raw crops account for the majority of consumption of
biostimulants,” suggests the report.

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Market: Key Findings

  • Acid-based
    active ingredients will remain the most sought-out ingredient type, owing to
    their efficiency in enhancing crop quality.
  • Horticulture-based
    crop produce will significantly boost consumption of biostimulants, owing to
    their effectiveness in microbial reactions in diverse fruits and vegetables.
  • Europe
    prevails as the leading regional market for biostimulants, backed by high
    adoption and favorable initiatives by administrations, thereby accounting for
    half of the global sales.
  • Asia
    Pacific will outpace other regions in terms of growth, and will account for
    significant chunk, owing to increasing adoption in the emerging economies of
    East Asia such as India and China.

Market: Key Driving Factors

  • Rising
    awareness regarding the side effects of conventional, synthetic crop
    fertilizers is pushing manufacturers in the biostimulants market.
  • The
    shrinking of fertilized lands, which is the fundamental challenge for the
    agricultural industry, is working in favor of the biostimulants market as the
    need to improve yield per unit area of cultivated land is higher than ever.

Biostimulants Market: Key Restraints

  • The
    sluggish growth of agriculture in developed economies is threatening the rapid
    growth of the market.
  • The
    presence of biofertilizers as an alternative will slightly affect the sales.

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Competition Landscape of
Biostimulants Market

of the key players in the global Biostimulants landscape that are covered in
this study include, but are not limited to, are Valagro SPA, Koppert B.V.,
Syngenta, BASF SE, UPL Corporation Limited, Novozymes, Isagro SPA, and FMC
Corporation, among others. Market players are focusing on research &
development activities and expansion of supply and distribution to stand out in
the competition.

More About the Report

This Future Market Insights study of 250 pages offers
actionable insights on the biostimulants market. The market analysis is based
on crop type (row crops, fruits and vegetables, turfs and ornamentals, and
other crop types), active ingredient (acid-based, extract-based, and others)
and application (soil, foliar, and seeds), across seven major regions.

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About Future Market Insights (FMI)

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