Market Research Report
Global Plant Biostimulant Market - By Active Ingredients, Application, Crop Type and Geography - Trends and Forecasts (2017 - 2022)
|Published by||Mordor Intelligence LLP||Product code||389027|
|Published||Content info||128 Pages
Delivery time: 2-3 business days
|Global Plant Biostimulant Market - By Active Ingredients, Application, Crop Type and Geography - Trends and Forecasts (2017 - 2022)|
|Published: April 8, 2017||Content info: 128 Pages||
The global plant biostimulant market value is expected to reach USD 2883.86 million by 2021 from USD 1445.5 million in 2015. The market is projected to witness a CAGR of 12% during the forecast period. Europe is the biggest market for plant biostimulant, followed by North America. Most active companies like Arysta and Micromix have adopted research, investment, and acquisition as their growth strategies.
In the global plant biostimulant market, product launch, investment, and mergers & acquisitions have been the most preferred strategies during the last five years.
Major factors stimulating the growth of global plant biostimulant industry are the expansion of organic food industry, an increase in productivity, and emphasis on sustainable farming techniques. Our study shows that the innovative product formulation from seaweed extracts will also boost the biostimulant market. Restraints of the market include high R&D costs and lack of awareness among farmers in the developing countries. An increase in government support, in the form of subsidies, is one of the major opportunities for the companies.
The plant biostimulants market is segmented by active ingredients, type, application, crop type, and geography. By active ingredients, acid-based biostimulants such as humic acids and fulvic acids are the major markets accounting for around 30% of the market share. Seaweed extracts, B vitamins are displaying the fastest forecasted growth rate. The seaweed extracts market is growing due to the increased demand from North American and European countries.
By Type, plant biostimulant is segmented into natural biostimulant and bio-synthetic biostimulant. Bio-synthetic biostimulant holds the majority of market share as compared with natural biosynthetic biostimulant. By application, plant biostimulant is segmented into foliar, seed, and soil. The foliar method of application is the most preferred for biostimulant supply, as it provides ingredients directly to the plant, followed by soil and seed. By crop type, the market is segmented into cereals, oilseeds, fruits and vegetables, and turf and ornaments. The cereals, fruits & vegetables segment holds a majority of the market share.
By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. Europe is the largest market accounting for around XX% of the market share. The North American industry accounts for around a quarter of the market share. Investments in research and development, by governments and major players, is expected to boost the market growth during the forecast period. Asia-Pacific is estimated to be the fastest-growing region, due to the push from governments in the region for sustainable farming and availability of products at lower costs. India, China, and Australia are the major markets in the region. The vast untapped market in these countries is the target area of major global players. The impact of sustainable farming on the market is expected to be greater from the end of this decade.
Major Companies in the sector include:
Arysta Lifescience Corporation,
Lallemand Plant Care
Recent Industry Insights
"Inocucor Technologies successfully launched its flagship microbial bio-stimulant product for farmers and greenhouse growers by the name Garden Solution ®. The company has also received a notice of allowance from the U.S. Patent and Trademark Office for its patent application to protect Inocucor consortia; the unique microbial products that accelerate plant growth and yield."
Key Deliverables in the Study
Market analysis for the global plant biostimulant market, with region specific assessments and competition analysis.
Market overview and identification and analysis of the macro and micro factors that affect the global plant biostimulant market, on both, global and regional scales and instrumental in changing the market scenario.
Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.
The report holds importance for the following stakeholders-
Farmers, producers, and manufacturers
Agricultural input companies
Enterprises operating in the industry
Traders and stakeholders operating in the sector
Investors/research institutions interested in the market
Supply chain analysis
List of Tables