Global Bio-stimulant Market Overview
Bio-stimulants are microbe based agricultural product which are biologically derived that are used for the enhancement of crop growth, organically. Biostimulants increases availability of nutrients, chlorophyll production, plant metabolism, water holding capacity, soil fertility and vigor. These bio-stimulants are used in conventional agricultural practices. In the sustainable agricultural practices, bio-stimulants are appearing as an important component. Bio-stimulants are efficient in their performance as well as environment friendly and they are substituting chemical based agro products at a higher pace.
Bio-stimulants acts a catalyst in overall plant developmental stages which results in improved uniformity and crop quality. It helps a plant to combat with a spectrum of environmental stresses. The working mechanism of bio-stimulants is completely different as compared with the standard fertilizers and provides essential nutrients for plant metabolism. The metabolic pathways are deeply associated with the overall plant development. Bio-stimulants upregulates gene expression which influences overall shoot and root development, cell division and reproductive development.
Organic based agro practices are preferred all across the globe rather than the chemical based agro practices. Rigorous use of chemical based agricultural products depletes soil quality and fertility and are also responsible for soil contamination. Decreasing soil fertility due to chemicals and limited availability of land have paved new roads for the bio-stimulants development. The development of new regulatory frameworks by the government for environment is influencing the bio-stimulants market.
Market Size and Forecast
The global biostimulant market is experiencing vibrant growth because of the benefits of biostimulants. The advantages of the biostimulants over the chemical based agro products is influencing market growth in the forward direction. Environment friendliness of biostimulants is also the major factor which is responsible for the market growth. The amalgamation of upgraded market access and economical alternatives are majorly responsible to fuel the market growth. Increment in food demand all across the globe and enhancement of the crop yield per hectare is boosting the global biostimulant market.
The global biostimulant market is anticipated to record a CAGR of 13% over the forecast period. In the year 2018, this market has been valued at USD 2.25 billion. The biostimulants market is expected to showcase a vibrant growth by the end of the forecast period. As per the report of World Bank, the amount of arable land is decreasing from 0.198 hectares per person in 2012 to 0.193 hectares per person in 2016. The increment in food demand all across the globe and enhancement of the crop yield per hectare is boosting the global bio-stimulant market. This decrease in the arable land across the globe is driving the bio-stimulant market as it provides better quality crops with better yield in a limited area.CLICK TO DOWNLOAD FREE SAMPLE REPORT
The market is segmented into active ingredients like amino acids, fulvic acid and humic acid. Amino, fulvic and humic acid based products falls under the acid based segment. Bio-stimulants which are acid based formed the largest segment in the year 2018. Amino acids are considered as one of the prime originators of phyto-hormones which activates plant metabolic systems followed by proper seed germination. Phyto-hormones or plant hormones are molecules which are generated within the plants in a low Phyto-hormones are also responsible for fruit development and flowering. On the basis of the above mentioned facts, acid based stimulants form the largest market in the active ingredient segment.
Expansion of organic food industry
The key market driver for the growth of global bio-stimulant market is the expansion of organic food industry. Organic food has no ill effects on the health as compared to chemically grown foods. Bio-stimulants increases microflora of the soil, which helps the plants to take up nutrients more efficiently. These bio-stimulants also help plants to become disease resistant. This increase in the uptake of nutrients efficiently and disease resistant makes vegetables and fruits a healthy chose for human consumption.
Growing concern on environment
Techniques of sustainable agriculture are used to protect the environment from any kinds of negative effects. The use of chemically agro based products has negative implications on the environment as well as on the plants itself. Chemical based products are responsible for the depletion of the soil fertility and nutrient availability. The rigorous use of chemically agro based products on a piece of land has a potential to decrease the quality of water table. So, there is a growing demand of bio-stimulants as it is biologically derived and is expected to not cause any harm to the soil and water table. It is not expected to have any kind of negative implications on the plant. Pesticides and chemical fertilizers are not used for the production of organic foods, so the demand of bio-stimulants are increasing.
Lack of awareness
The major restraint in the global bio-stimulant market is lack of awareness among farmers in the less developed economies.
By Active Ingredient
By Crop Type
On the basis of regional analysis, global bio-stimulant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Bio-stimulants are microbe based agricultural product which are derived naturally and are responsible for crop growth enhancement in the agricultural industry among which Europe is the largest market globally and is anticipated to observe a higher growth rate. This growth rate is due to the stringent rules on environmental safety followed by the active support for organic farming. Asia-Pacific region is expected to grow in the forecast period as India, China and Australia are agriculture based economy. Asia-Pacific region have countries which have diverse levels of income and spending capacity. This indicates a significant growth of Bio-stimulants market in the region. North American region is also expected to observe a stable growth.
Global bio-stimulants market is further classified on the basis of region as follows:
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