Bio Stimulants Market Overview
The Bio Stimulants market is estimated to generate revenue of $4,455m by 2023, growing at a CAGR of 12.3% during the forecast period 2018–2023. The growth of the bio stimulants market can be attributed to the expansion of the organic food industry and the increased demand for quality agro foods and crops. Europe dominates the bio stimulants market owing to the region’s increased consumption of organic food and the initiatives taken by the European Bio Stimulant Industry Council (EBIC) to promote the use of bio stimulants to increase agricultural yield.
Bio Stimulants Market Outlook
Bio stimulants are natural substances that are applied on plant parts and soil to boost the crop yield. These can stimulate plant growth by improving the water holding capacity, and increasing chlorophyll production. Bio stimulants have extensive applications in agriculture and horticulture.
Geographically, Europe, the Americas and Asia-Pacific are the largest markets for bio stimulants. The rising adoption of sustainable agricultural practices are expected to boost the demand for bio stimulants in the APAC region.
Bio Stimulants Market Growth Drivers
Rising demand for environmentally safe and organic products that provide alternatives to synthetic inputs is driving the bio stimulants market growth.
The need to improve soil health and restore degraded soil are the boosting factors for the growth of the bio stimulants market.
Growing agronomic production demands, and keen interest for organic products from NGOs, governmental bodies, and academia are influencing the growth of bio stimulants market.
Increasing population, easy availability and the bio protective effects against abiotic stress are also impacting the growth of bio stimulants market
Bio Stimulants Market Challenges
- Lack of awareness about the benefits of bio stimulants among the
- High R&D costs
- Vague regulatory frameworks for bio stimulants
Bio Stimulants Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the ingredients in bio stimulants market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of bio stimulant ingredients, and their specific applications in different crop types.
Bio Stimulants Market Report: Industry Coverage
Ingredients of Bio Stimulants: Acid based ingredients, and extract based ingredients
Applications of Bio Stimulants: Foliar application, Soil application, and Seed application
Crop Types of Bio Stimulants: ROW Crops, Fruits and Vegetables, Turf and Ornamentals, and other crop types
The Bio Stimulants market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- The Americas: The U.S., Canada, Mexico, Brazil, and Rest of Americas
- Europe: The U.K., Germany, Italy, France, Russia, and Rest of Europe
- APAC: China, Japan, India, and Rest of APAC
- RoW: The Middle East and Africa
Bio Stimulants Market Key Players Perspective
Some of the other key players mentioned in this report are BASF SE, Arysta Lifescience Corporation, Koppert B.V., Syngenta AG, Platform Specialty Product Corporation, and Valargo SPA.
Bio Stimulants Market Trends
- Demand for bio stimulants is increasing owing to the special properties such as improving plant metabolism, high nutrient availability, and water holding capacity. Changing life style and increasing purchasing power parity in developing countries is stimulating the bio stimulants market. Quick changes in climate owing to global warming affecting crop yield will positively impact product penetration. Bio stimulants foster development in a number of established ways throughout the crop lifecycle, from seed germination to plant maturity is creating huge number opportunities for the growth of bio stimulants market