As the global food security concerns surge, the rising investments in plant development promises an escalating demand for biostimulants. The global biostimulants market size is anticipated to surpass $5 billion towards 2026, thanks to the popularity of organic farming across numerous regions of the world.
The following four trends have been fostering the biostimulants market growth.
Investments in R&D to propagate growth
Major industry players have been investing in R&D for scaling up their manufacturing capacity and enhancing brand image. In Europe, the number of plant biostimulant inventions focusing on particular agronomic needs has been growing, adding significant acceleration to the regional biostimulants market growth.
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Furthermore, the number of clinical research initiatives has been on the rise. New breakthroughs in the area are likely to directly impact the biostimulants market trends. For instance, results of a new study conducted at Nottingham Trent University analyzed the effects of a hybrid biostimulant on a variety of crops. The game-changing product can save millions of dollars. It was found that using biostimulants resulted in the plants exhibiting high drought tolerance, increasing the yields by a staggering 30%.
Asia Pacific to dominate global demand, driven by urbanization
The biostimulants market in Asia Pacific is set to gain the first position, thanks to the growing need to fulfill the demands of the huge population base in the region. Since biostimulants can significantly boost crop productivity, both in terms of quantity and quality, the regional market is likely to rise at a CAGR of 11.5% between 2020 and 2026.
Biostimulants amp up plant growth, soil productivity, and overall crop productivity. That is why, numerous farmers have been embracing these products to ensure that sustainable practices are being adopted. The increase in agricultural resources, alongside the expansion of the food & beverage industry, has also been paving the way for the growth of the biostimulants market share in the region.
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Seed treatment to exhibit promising elevation
The seed treatment segment of the biostimulants industry is expected to make a headway in the market scenario, supported by the ability of this application to improve germination. Seed treatment primarily protects the seeds from insect attacks when the crop is being cultivated. Since biostimulants function as a chemical barrier for protecting the germinating seeds, the segment is anticipated to rise exponentially, contributing toward the growth of the biostimulants industry share.
Seaweed extract-based biostimulants gain traction
The demand for seaweed extract based biostimulants is expected to soar through the upcoming times, thanks to the high efficiency in mitigating abiotic stress. They are derived from numerous microalgae species, which are extracted to produce complex combinations of biologically active compounds.
Seaweed extract-based biostimulants have been attracting the attention of both the scientific community and the industrial world and are expected to continue to do so in the forthcoming times as well. Moreover, with the suppression of abiotic stress in plants, innovative combinations of components is likely to boslter the global biostimulants market forecast.
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Some of the key industry players operating in the global biostimulants industry include Agrinos, Valagro, Biover, Micromix, Italpollina, Biolchim, BASF, Lallemand, Artal Agronutrients, ILSA, and Arysta LifeScience.
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Related Report from Other Source: Biostimulants Market revenue worth $5 billion by 2026, Says GMI
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