Biostimulants Market Worth USD 3,040.3 Million by 2022

Monday, November 13, 2017 4:17 PM UTC

LONDON, Nov. 13, 2017 -- Global Biostimulants Market is expected to reach USD 3,040.3 million by 2022, supported by a CAGR of 12.7% during the forecast period of 2017 to 2022, according to a publication from Meticulous Research™. The global biostimulants market is mainly driven by the growing need to increase crop yield and quality, growing organic farming and demand for organic food, and wide range of benefits of biostimulants in crop production. Moreover, growing awareness about environmental safety with the use of biostimulants has further led the growth of biostimulants market globally. However, lack of education and awareness among farmers, and various challenges faced by new entrants and small players restrains the growth of biostimulants market. Also, unavailability of standardized regulatory framework for biostimulants and scientific & technical challenges for development of biostimulants challenges the growth of this market to some extent.

Geographically, Europe holds the major share in the global biostimulants market, followed by North America and Asia-Pacific region which is primarily attributed to the rising concern over harmful chemicals on environment, increasing demand for organic food, rapid development & innovation in biostimulants, and presence of large number of biostimulants providers. However, Asia-Pacific region possesses lucrative growth potential for the biostimulants market and is expected to witness a fastest growth during the forecast period. This is mainly attributed to its large area under agriculture cultivation, rising need to increase crop yield and quality with the growing population, increasing demand for organic foods, and various government initiatives to develop and increase application of biologicals in the region.

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The key players in the global biostimulants market are BASF SE, Valagro SpA, Biolchim S.p.A., Marrone Bio Innovation, Monsanto Company (Part of Bayer), Trade Corporation International (Part of Sapec Group), Plant Health Care PLC, Syngenta (Subsidiary of ChemChina), Biostadt India Limited, Andermatt Biocontrol AG, BioWorks, Inc., Novozymes, Inc., Koppert B.V., Italpollina S.p.A., Micromix Plant Health Ltd., Arysta LifeScience Corporation (Subsidiary of Platform Specialty Products Corporation), FMC Corporation, and Agrinos AS.

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Market by Active Ingredients: