BIOSTIMULANTS MARKET TO REACH USD 5.6 BILLION BY 2027 | CAGR 9.6% – FORENCIS RESEARCH

Global Biostimulants Market: Key Highlights

• According to the new market research report “Biostimulants Market by Active Ingredients (Seaweed Extract, Humic Substances, Microbial Amendments, Amino Acid, Others.), by Crop Type (Fruits & Vegetables, Row Crops & Cereals, Turf & Ornamentals, Others), by Application (Foliar Treatment, Soil Treatment, Seed Treatment), by Form (Liquid, Dry.), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global biostimulants market is estimated to reach USD 5.6 Billion by 2027 at a CAGR of around 9.6% during the review period.
• Biostimulants are biological or biologically derived fertilizer additives and similar products which are used in crop production to enhance plant growth, health, and productivity
• They foster plants development and growth throughout the crop life cycle from seed generation to plant maturity
• Biostimulants are an effective substitute for chemical-based agro products and are replacing these at a higher rate on account of their environment-friendly nature and performance efficiency.

Global Biostimulants Market: Key Market Dynamics

• The recent shift of consumers’ purchasing patterns for organic and sustainably sourced food has augmented the product penetration for biostimulants
• Rising focus to enhance productivity from sustainable agriculture practices has anticipated surging the demand for biostimulants form high-value crops
• Restricted knowledge and awareness in various developing economies and their lower adoption in these economies is expected to hinder the market growth during the forecasted period

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Global Biostimulants Market: Regional Overview

• Europe

The biostimulants market in the Europe region is projected to witness high demand due to increased emphasis of government on adopting sustainable farming substances, methods, and tools coupled with the presence of several biostimulants promoting councils. For instance, the European Biostimulant Industry Council (EBIC), is one of the promoting council, promoting farmers with better techniques of farming. Additionally, growing demand for organic food & drinks owing to its benefits has expected to drive the demand for biostimulants market. For instance, according to Eurostats, in 2018 13.4 million hectors of agricultural land is under organic farming and the total area under organic farming continues is expected to increase.

• Asia-Pacific

Owing to effective transformation in various technological advancements has expected to surge the demand for agriculture in the region. Significant adoption of biostimulants can be witnessed in emerging economies such as China, Australia, India, Indonesia, and Japan. Moreover, market players such as Sea6 Energy (India) are exclusively offering seaweed-based biostimulants along with technological platforms such as TARMA and SPURT.

Global Biostimulants Market: Key Players Overview

• UPL:

UPL is engaged in the business of agrochemicals, industrial chemicals, chemical intermediates and specialty chemicals. The Company's segments include Agro activity and Non-agro activity. The Agro activity segment includes the manufacture and marketing of conventional agrochemical products, seeds and other agricultural-related products. The Non-agro activity segment includes the manufacture and marketing of industrial chemical and other non-agricultural related products. UPL ranked 5th amongst agrochemical companies present across the globe. In 2019, the company generated USD 3.14 billion, and has market access to 90% of world’s food basket.  In Feb 2019, UPL acquired Arysta LifeScience Corporation (US), with an aim to widen its global footprint in the biological market, and increase its geographical reach.

• Isagro S.p.a.:

Isagro SpA is an Italy-based company engaged in the agrochemicals sector. The company was incorporated in 1993, with its presence in more than 70 countries across the globe.

The Company is involved in the research, development, production, marketing and distribution of crop protection, both organic and inorganic and Biosolutions. Isagro SpA operates through 4 manufacturing plants with direct distribution in Brazil, Colombia, Italy, Spain and United States.

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