Pune, India, Sept. 05, 2018 (GLOBE NEWSWIRE) -- The new data released by Market Research Future (MRFR) reveals that the global biostimulants market is set to surpass a valuation of USD 3.77 Bn by 2023, expanding at a sound CAGR of 11.09% (forecast period – 2017 to 2023). Biostimulant is quickly gaining recognition as a plant supplement and holds tremendous commercial potentials. The growing emphasis on improving nutritional status of agricultural products and increasing their abiotic stress tolerance is providing an impetus to the worldwide demand for biostimulants. Over the years, a host of new biostimulants have been introduced.
Global food production continues to grow at an unprecedented scale, which is consequently leading to overutilization of croplands and faster degeneration of soil quality. To an extent, biostimulants are helping address such farming complications. Other advantages of using biostimulants include healthier crops and greater yield. The growing pressure on the agricultural sector to increase production is prompting the need for novel technological and biological solutions. Such factors are making a positive impact on the global biostimulants market. Farmers are resolving several agricultural issues using biostimulant-based products. Moreover, biostimulant products are much more accepted as compared to their chemical alternatives. Demand for biostimulants in expected to rise substantially over the next couple years.
Key Players and Competition Tracking
Some of the top companies operating in the global biostimulants market include Sapec Group (Trade Corporation International) (Spain), Isagro S.P.A (Italy), Koppert B.V (The Netherlands), Arysta Life Science Limited (Japan), BASF SE (Germany), Valagro S.P.A (Italy) and Italpollina (Italy).
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Latest Industry News
- Leading crop health expert Acadian Seaplants Ltd. has recently announced a major landmark in the company’s expansion ambition. The company has successfully established a new subsidiary company in India and inaugurated a processing plant after partnering with an India-based pesticide manufacturer - Standard Pesticides. The plant has been set up at Vadodara, Gujarat a state situated in the western part of the country.
- Italy-based producer of biostimulants and specialty nutrients - Valagro has reported decided to set up a production facility in Orangeburg County, South Carolina. The move will see the company invest $14 million. The plant will also be company’s first in the U.S. as it only had a corporate office up until now.
Biostimulant Market Segmentation: Insights
MRFR’s data also includes a thorough segmental analysis of the global Biostimulants Market based on type, crop type, application, active ingredient, acid based ingredients and extract based ingredients. By type, the market has been segmented into synthetic and natural. The later is likely to retain its dominant position over 2023, exhibiting an impressive CAGR of 11.1%. Increasing inclination towards clean label and organic food is a prime factor driving the growth of the natural segment. By crop type, the market has been segmented turfs & ornaments, row crops, fruits & vegetables, and others. Among these, the row crop segment is expected to remain highly profitable and reflect a strong CAGR of 10.9% during the assessment period. Meanwhile, the fruits & vegetables segment is projected to witness a relative higher CAGR of 11.14%. By application, the market has been segmented into soil treatment, foliar treatment, and seed treatment. The foliar treatment segment currently holds the top position and is projected to surge at 10.4% CAGR during the assessment period. By active ingredient, the market has been segmented into extract based, acid based and others. The extract-based segment will continue to outperform other active ingredient market segments in 2018 and beyond. By acid-based ingredient, the market has been segmented into amino acid, fulvic acid and humic acid. In 2017, the humic acid segment accounted for the largest market. By extract based, the market has been segmented into seaweed, plant and microbial.
Browse the market data and information spread across 104 pages with 47 data tables and 30 figures of the report “Biostimulants Market Report - Forecast 2017-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/biostimulants-market-2770
Europe to Lead the Global Biostimulant Market Over 2023
On the basis of region, the biostimulants market has been segmented Europe, Asia Pacific (APAC), North America and rest of the world (RoW). The market in Europe is highly attractive. During the forecast period, the region’s market is expected to expand at 11.22% CAGR. Europe will continue to dominate the global biostimulant market in the foreseeable future. Following on heels of Europe, APAC is expected to retain the second position over 2023. In addition, the APAC market is projected to witness the highest CAGR during the assessment period. In APCA, the emerging markets such as India and China present lucrative growth opportunities. These two countries collective account for nearly one-third of the total world population, which also make them prominent markets for agricultural suppliers. Factors such as growing per capita income and increased discretionary spending in these countries is fuelling the demand for food product with clean label.
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