Biostimulants are those fertilizers that are produced naturally. They find use in the improving the growth of plants and enhancing nourishment of the agrarian products. Throughout the life cycle of a crop, biostimulants help in the development and growth of plants. The global biostimulants market is likely to ride high on the need for improving growth and development of plants. In addition, increased soil degradation is another stimulant for the expansion of the global biostimulants market.
Some of the renowned companies in the global biostimulants market are Adama Agricultural Solutions Ltd., Arysta Lifescience Corporation, Koppert Biological Systems, BASF SE, Eastman Chemical Company, and Koppert BV.
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Utilizing the extensive research methods, experts at Transparency Market Research (TMR) has prepared an all-inclusive report on the global biostimulants market. The market is likely to expand at a growth rate of 12.3% CAGR over the assessment tenure, from 2019 to 2027. The market is likely to attain prominence reaching US$ 5526.8 Mn through 2027.
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Asia Pacific Market to Gain Prominence Due to Growing Popularity of Organic Farming
In the global biostimulants market, Asia Pacific is forecasted to rise rapidly, in terms of both volume and revenue. The growth of the Asia Pacific biostimulants market is expected to be steered by the countries like India, Japan, South Korea, and China. Biostimulants find use in seed treatment to better the vigor of crop at the initial stage of development in Asia Pacific.
Biostimulants also enhance the capacity of plants to absorb nutrients and facilitate in the growth of the plants. There is an increased demand for high quality agricultural products with a rise in the spread of organic farming in Asia Pacific, which is likely to work in favor of the global biostimulants market over the assessment tenure. The need for improved productivity is another stimulant for the expansion of the Asia Pacific biostimulants market.
Need for Increased Yield to Accentuate its Demand in the Market
The global biostimulants market is anticipated to be driven by the decreasing availability of fertile land and increased demand for better yield. Organic biostimulants hold lucrative opportunity for the market over the years to come. Biostimulants enhance the quality of soil microflora, which facilitates uptake of nutrients in a more efficient manner. They accelerate antioxidant activities in plants and build stronger defense against disease pressure and environmental stresses. Biostimulants are linked with gardening and organic farming and both are experiencing substantial progress in regular agriculture as well.
The use of biostimulants has evolved tremendously and has moved from high-value crops like fruits and vegetables to regular crops fiber crops, pulses, and cereals. Biostimulants develop tolerance toward abiotc stresses for plants and increase yield for crops like barley, rice, and wheat. The huge scope of application of biostimulants can lead to significant rise in the yield of crops like barley, wheat, and rice.
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The information shared in this review is based on a TMR report, bearing the title, “Biostimulants Market (Product – Humic Acid and Fulvic Acid, Amino Acids, Microbial Stimulants, Seaweed, Vitamins, and Biorationals; Application – Oilseeds and Pulses, Cereals and Grains, Fruits and Vegetables) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 to 2027”