SEATTLE, May 29, 2020 (GLOBE NEWSWIRE) -- The Global Biostimulants market was pegged at around US$ 2.2 billion, in terms of revenue in 2019 and is expected to exhibit a CAGR of 10.1% over the forecast period (2019-2027).

Key Trends and Analysis:

The global biostimulants market has witnessed rapid growth in terms of revenue in the past few years owing to the owing to the rising adoption for sustainable farming practices in agricultural industry across the globe. This factor is expected to foster the growth of the global Biostimulants market during the forecast period.

Key Market Takeaways:

The global biostimulants market is expected to exhibit a CAGR of 10.1% over the forecast period (2020-2027). Among regions, the market in Europe has witnessed a surge in growth in the recent past owing to increase in production of row crops such as oats, millets, corn, soybeans and others in the region. In addition to this, manufacturers are encouraging the usage of bio-fertilizers over synthetic chemical based fertilizers, which in turn has provided lucrative growth to the global biostimulants market. Rapid rise in population and urbanization in emerging economies is also expected to augment the growth the market during the forecast period. For instance, According to the India Brand Equity Foundation (IBEF), the total food grain production in India during 2018-2019 was estimated to be around 283.37 million tons.

Major players in the agriculture industry are focusing on research and development of innovative environment friendly agricultural products, is one of the key driving factors for the growth of the global biostimulants market in the recent past years. For instance, in October 2019, Olmix Group, a company which produces natural algae-based products for plant and animal nutrition, launched its new range of biostimulants named, Seatech technology, in Vietnam. Olmix Group partnered with Quang Binh Agricultural Corporation (QAC) in order to commercialize this biostimulants range with an aim to expand its business network in Asia-pacific region. Such product innovations are expected to boost the growth of the global biostimulants market during the forecast period.

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Companies engaged in manufacturing of biostimulants are adopting different strategies such as mergers and acquisitions, in order to expand their product portfolio and their market presence globally. For instance, in March 2020, SICIT Group, a leading manufacturer of amino acids & peptides based plant bio stimulants, and Syngenta AG, a global company involved in production of seeds and agrochemicals products, signed a partnership contract of 15 years for production and supply of its biostimulants brands, ISABION and HICURE.

Leading companies involved in the production and distribution of Membrane chemicals are focusing on strategies such as expansions of production lines owing to the rapidly growing demand for Membrane chemicals in the past few years. For instance, on 27 May 2020, Seipasa, a Spanish company which specializes in development and manufacturing biostimulants, biopesticides, and agricultural fertilizers, has obtained new phytosanitary registrations in Mexico, which in turn will strengthen its market presence in the country within the segment of crop protecting products.

Major players operating in the global Biostimulants market are – (Competitive Landscape)

Acadian Seaplants Limited, Biostadt India Limited, Omex Agrifluids Ltd., Italpollina Spa, Koppert B.V., Bio Atlantis Ltd., Micromix Plant Health Limited, Trade Corporation International, Dow, Valagro Spa, Isagro S.P.A, Platform Specialty Products Corporation, BASF SE, Novozymes A/S, and Agrinos A/S.

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Market Segmentation:

• Global Biostimulants Market, By Application:
  • Foliar
  • Soil
  • Seed
• Global Biostimulants Market, By Crop Type:
  • Row Crops
  • Fruits & Vegetables
  • Turfs and Ornamentals
  • Other Crop Types
• Global Biostimulants Market, By Active Ingredient:
  • Acid-Based
  • Extract Based
  • Others
• Global Biostimulants Market, By Geography:
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • Turkey
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Related Topic:

SOIL ACTIVE HERBICIDES MARKET

The soil active herbicide is incorporated inside the soil so as to prevent its volatilization as well as photo-decomposition. These herbicides are of two types, selective or non-selective. Selective herbicides are usually target specific i.e. they kill only some species of the plant without harming the other. Whereas, non-selective herbicides destroy all or majority of plants present on the treated soil surface.

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