Biostimulants Market to Perceive Substantial Growth During 2025
On
account of the increasing need for non-toxic agricultural stimulants,
the global biostimulants market offers commendable growth
opportunities for market players. The most noticeable trend in the
market is the formation of strategic alliances amongst market
players. Established regional players are keen on partnering with
global market players to gain a worldwide presence. Further, the
stupendous market potential is attracting the entry of new players
into the market. This is expected to fragment the market due to the
presence of large-, small-, and medium-sized players. The renowned
market players are Koppert Biological Systems, Italpollina
spa,Agrinos, Biolchim S.p.A., Syngenta, Premier Tech Ltd., Valagro,
Novozyme, Agricen, Agriculture Solutions Inc., and Kelpgrow. These
market players are anticipated to invent a range of innovative
business strategies that could give them an upper hand over
competitors.
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Report Overview @
A
report by Transparency Market Research (TMR) makes projections about
the fettle of the market during the period between 2017 and 2025.
With a CAGR of 12.8% over this forecast period, the market is
prophesied to be valued at US$5.93 bn by 2025 as compared to a market
value of US$20.05 bn in 2016. Based on application, the market is
segmented into cereals and grains, fruits and vegetables, oilseeds
and pulses, and others. Amongst these, the market for fruits and
vegetables reaped the highest growth rate in 2016 with a market share
of 35%. The regional analysis of the market reveals that Europe has
dominated other regions in the past years. The sale of biostimulants
in the market is expected to retain the supremacy of the European
region.
Biostimulants
are produced from a range of compounds, plants hormones,
microorganisms, and vital elements. This gives them the ability to
enhance water retention in plants, discharge important minerals into
the soil, and boost the production of antioxidants. All of these
factors contribute to plant growth which in turn speeds up the
yielding of crops. This is an important consideration in the
agricultural industry where crop yield plays the central role in
uplifting growth. This factor, along with a surge in the production
of ornamental crops, fruits, vegetables, and turf, is propelling the
market towards fruition. The exponential rise in population across
the world is pressurizing the agricultural industry to accelerate the
process of production. Owing to this pressing need, the market for
bio stimulants has seen substantial growth in recent times. A
complementary perk of biostimulants is their easy availability, which
makes farmers resort to it more often than synthetic stimulants.
The
total cultivable land across the globe is getting scantier by the
day. To add to the adversities of the agricultural industry, the
global population has touched an all-time high. These factors
together make it integral for the industry to optimize the production
of crops by deploying all possible resources that accelerate crop
growth. Hence, the demand for biostimulants is gaining momentum in
the current times, and the market is expected to continue on a streak
of progress.
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Although
the market for biostimulants is witnessing sparks of commendable
growth in recent times, the popularity of synthetic fibers could
hinder the market. Market players are deprived of a large consumer
base that unwarily uses synthetic fibers. Nevertheless, the
ill-effects of synthetic fibers on the fertility of the soil has led
agriculturists to discourage its usage. This is a positive growth
prospect that is expected to bring biostimulants to the fore.
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