Introduction to Bio stimulants
The biostimulants are generating safe environment for the crops, vegetables and other plants. The advantages are well suited for the microorganisms which are on the surfaces and are distributed within that specified space. The interdependency of the plant on others and the environment are increased which helps in abiotic growth. The exposed soil and environments of the plants provide healthy growing conditions.
Biostimulants are helpful in improving micro flora which improves nutrient intake by the plants. The biostimulants aid in increasing antioxidants and reduce the level of plant stress from the environmental factors and various plant diseases. The hormones stimulate the growth of the plant, root development and cell and tissue building, thereby enhancing the overall health of the plants. The biostimulants are biodegradable and environment friendly in nature. Plant nutritionists are considering various methods to recover nutrient and induce efficiency by using biostimulants. The biostimulants are helpful in organic agriculture and they also have widespread application into conventional agriculture. Biostimulants were traditionally used in high value agricultural and horticultural production and are expanding in conventional crops and plantation growth.
Market Size and Forecast
Currently the global Biostimulants market is observing vibrant growth on account of rising crop production, thereby driving the demand of Biostimulants. Advances in agricultural field in the past few years and growing research and developments are projected to drive Biostimulants market along with growing population and rise in per capita income.
Biostimulants for the treatment segment is expected to display a propelled demand on the back of foliar treatment in liquid form owing to its easier application. This treatment enables faster remedies by efficient absorption of nutrients through various parts of plant such as roots, leaves coupled with the advantage of increasing cellular activity.
As per Foreign Agricultural Service (FAS), the world production of wheat is 756.5 million metric tons, coarse grains of 1413.7 million metric tons, rice and milled of 490.8 million metric tons, total grains of 2661 million metric tons and oilseeds of 572.8 million metric tons in the period of 2016-17. This increasing production of crops are generating high demand for the biostimulants in agricultural purposes which is expected to record a CAGR of 13.2% over the forecast period. The Biostimulants market is expected to reach value of USD 4.2 billion at the end of the forecast period.
Rising Demand for Biostimulants
Rapid economic development and rising government concerns for increasing agricultural production with growing population is expected to boost the biostimulants market in the developing regions. Moreover, increasing research and developments in agricultural fields are expected to increase market sales. Subsequently, the rising trend of organic farming and organic food consumption among the current population is driving the biostimulants market significantly at present and is expected to stimulate the market strongly during the forecast period.
Widespread Research and Development
Various agronomists are focusing on latest technological advancements through research and developments for disease free, healthy and high yielding of crops which is estimated to propel the biostimulants market sturdily. Advancement in agricultural products which are environment friendly and have targeted influence on plants for vigor and stress resistance is anticipated to showcase a vibrant growth in the near future.
Biostimulants can cause skin and eye irritation, respiratory disorder and more in human beings. Additionally, the aquatic life is also harmed by the biostimulants when these get mixed with water and thus, these two factors are concurrently expected to serve as major restraining factors in the growth of bio stimulants market in the forecast period.
Our-in depth analysis of the global Biostimulants market includes the following segments:
By Crop Type
By Treatment Type
By Active Ingredient Type
On the basis of regional analysis, global Biostimulants market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Europe is expected to be the most dominant region in revenue generation in the market over the forecast period. The various government fundings and regulations have increased the production of organic crops and increases the application of biostimulants in various agricultural fields.
Asia Pacific is anticipated to observe promising growth over the forecast period on account of presence of numerous agriculture based economies such as India, China, and others. Countries in Asia Pacific are driving the growth of biostimulants on account of increasing per capita income, disposable income and changing food consumption habits. The agriculture sector of this region is generating a steady growth and the people are dependent on the farming which drives the growth opportunities for the market in the APAC region.
Global Biostimulants market is further classified on the basis of region as follows:
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