Shifting Trends in Sustainable Farming facilitates the Global Biostimulants Market Growth

According to the estimations put forth by Inkwood Research, the Global Biostimulants Market is predicted to project a CAGR of 12.67% in terms of revenue and 11.83% in terms of volume during the forecasting years of 2021-2028.

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Biostimulants are synthetic or natural substances applied to soil, plants, and seeds. They reduce the need for fertilizers, and increase plant growth, resistance to water, and abiotic stresses. Biostimulant compositions constitute raw materials like algae extracts, hormones, plant growth-promoting bacteria, and humic acids. Their classification is dependent on the origin and mode of action of the active ingredient.

Growing Trends in Sustainable Farming Methods propel Market Growth

The emergence of the sustainable agriculture movement called for agricultural practices that eliminated environmental and social concerns. The subsequent support and acceptance of sustainable agriculture techniques have resulted in the application of products like plant biostimulants. Sustainable farming enables the minimal use of biostimulants, thereby minimizing costs and maximizing productivity. The biostimulants utilization addresses social and environmental concerns, and offers cost-effective and innovative opportunities. Moreover, plant biostimulants have different operations and mechanisms for plant growth, right from seed germination to plant maturity.



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Row Crops & Cereals are the Dominant Crop Type

The increasing use of biostimulants has resulted in a growing need for row crops & cereals. The increased market share of this segment is attributed to the stimulated use of biostimulants in foliar and seed treatment. Biostimulants increase the total productivity of row crops by modulating expansion, cell metabolism, and division. Crop-enhancing products are central to the production of safe and affordable crops. This is because, every year, almost 40% of the global crop yield are prey to crop pests, weeds, and crop diseases. Further, initiatives to restrict the exposure of row crops & cereals to pollution and climate change are set to boost the demand for biostimulants.

Asia Pacific to Fare the Highest in terms of Revenue & Volume

There is a growing demand for high-quality agricultural products in the region, along with the rising importance of organic farming and the increasing demand for better productivity. With key players introducing new innovative biostimulants, the region entails lucrative market growth opportunities. In countries like Indonesia, agriculture accounts for 17% of the GDP. The country is eyeing sustainable agriculture, backed by government initiatives. Such factors are set to increase the demand for biostimulants.

The introduction of new products to the market is projected to raise the competitive rivalry. Companies with technological innovation are evaluated to have a competitive advantage over their rivals. Italpollina SPA, Eastman Chemical Company, Micromix Plant Health Ltd, Omex Agrifluids Ltd, etc., are among the distinguished companies in the market.

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GLOBAL AGRICULTURAL MICROBIAL MARKET

GLOBAL ORGANIC DAIRY FOOD & BEVERAGE MARKET

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