Biostimulants to Surpass Legal Barriers to Deliver Promised Growth
" The biostimulants market is expected to grow at a CAGR of 11.6% during the forecast period to reach a value of $5.33 billion by 2025 "
Bangalore, India, January 30, 2020: With its recently published study “Biostimulants Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the demand for biostimulant products will witness higher growth during the forecast period with regulatory bodies including product categories and simplifying the processes for marketing coupled with strong farmers demand for better produce yield. The biostimulants market is projected to grow at a CAGR of 11.6% during the forecast period to reach a value of $5.33 billion by 2025.
Governments across different economies have started accommodating the separate product category of biostimulants, especially in the past 3–5 years. The decade-long industry initiatives to push the regulatory recognition have started giving results, enabling the industry participants to place their products in the market separating them from crop control chemicals. These regulatory changes are not only going to reduce the administrative expenses for placing products into the market, but these would also enable the suppliers to claim the correct benefits to increase awareness among farmers, further pushing the demand growth of biostimulants.
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The first categories of biostimulants introduced, seaweed extract-based & humic acid/fulvic acid-based, are still the most popular biostimulants in volume terms, with latter gaining on the advantage of low cost. Amino acid & derivatives-based biostimulants have gained popularity in the last decade, making them the second-largest revenue contributors towards the biostimulants market. The trend is expected to continue during the forecast period as well, with increased penetration of cost-effective humic acid & fulvic acid products in developing economies and increased adoption of seaweed extract products in developed countries of the US and European Union.
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“From the farmers’ end, biostimulants is one of the least understood product categories, which was further helped by confusing regulatory guidelines. Slowly the environment is building to increase transparency in the area. This will not only help suppliers but also the farmers and consumers to have both quality and quantity of farm produce. From a market perspective, biostimulants have yet to capture market potential worth hundreds of billions, which it will in the coming decade.” – Ankur Kalra, Research Manager, Infoholic Research
Key Insights of the Report
- The biostimulants market has been analyzed based on the application mode
- The biostimulants market has also been analyzed based on active ingredients
- Amino Acid & Derivatives
- Humic Acid & Fulvic Acid
- Seaweed Extracts
- Microbial Amendments
- Others (such as Vitamins)
- The biostimulants market has further been analyzed based on crops
- Fruits & Vegetables
- Cereals & Grains
- Turf & Ornamental
- Pulses & Oilseeds
- The biostimulants market has also been analyzed based on geography covering
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Industry outlook: market trends and drivers, restraints, and opportunities