The global biostimulants market has been all-inclusively evaluated in a publication published by Future Market Insights (FMI). One of the areas of critical interest, i.e. the competitive landscape has been comprehensively studied by the authors with the market share and company profile of key players accurately presented in the publication. Players such as Koppert B.V., Italpollina Spa, Omex Agrifluids Ltd., Biostadt India Limited, and Acadian Seaplants Limited have been anticipated by the analysts to make their presence known in the market.
In Q2 2017, Acadian Seaplants Limited’s Acadian Plant Health had publicized the launch of its Acadian BioSwitch technology and biostimulants in India along with some new partnerships. The recent strategic moves of the Canada-based company could be an indication of players looking to extend their geographical reach, launch new products, and partner with other companies.
As per the statistics of FMI, the demand in the global biostimulants market is predicted to rise at a CAGR of 11.0% during the forecast period 2015-2025. By the concluding forecast year, the market could be valued at a US$4.1 bn. By application, foliar has been projected to secure a larger share in the market. By region, Asia Pacific Excluding Japan (APEJ) could exhibit a higher CAGR of 13.5%.
Magnifying Food Demand Brings in Sufficient Growth Opportunities : The world biostimulants market is prognosticated to be pampered with strong growth prospects birthing on the back of rising applications in the agriculture industry. This could be due to the organic and ecofriendly nature of biostimulants. The demand for biostimulants could be pushed further with the increasing want for food putting pressure on land and shifting the focus toward improving yield per hectare.
The unique nature of biostimulants could be another factor augmenting the growth of the world biostimulants market. Being neither a pesticide nor a plant, a biostimulant holds the potential to significantly impact crop yield and plant growth when applied in suitable quantities. It is, in fact, a crop enhancer differentiating from a biofertilizer and a biopesticide. It could be applied to correct nutrient deficiency in plants, and function in synergy with plant nutrients.
Laidback Attitude toward Innovation Puts Brakes on Growth : The international biostimulants market has been prophesied to find challenges in its growth because of the slow pace of innovation and lack of standardization. However, the market could up its demand in the coming years while riding on the increasing efforts made by governments around the globe to amplify agricultural production. The demand for biostimulants has been envisaged to be positively influenced by the elevating count of applications for improving the overall agricultural output.
Taking into account of their advantages and benefits for a wide scope of applications in not only the agricultural but also horticulture sector, biostimulants have been envisioned to increase their sales in the near future. Biostimulants could play a vital role in enhancing chlorophyll production, nutrient availability metabolism, and water holding capacity in plants.