Technological Advancements for Biostimulant Production


Posted July 25, 2019 by Food-farming

The biostimulants market is estimated to account for USD 2.6 billion in 2019 and is projected to reach USD 4.9 billion by 2025, at a CAGR of 11.24% during the forecast period.

 
The biostimulants market is estimated to account for USD 2.6 billion in 2019 and is projected to reach USD 4.9 billion by 2025, at a CAGR of 11.24% during the forecast period. The market is primarily driven by the strong market demand for high-value crops across the globe and the increasing need to support crop growth due to abiotic stress, arising from changing climatic conditions. In addition, technological advancements by the key players in most of the regions have led to high demand for biostimulant products.
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On the basis of active ingredient, the amino acids segment has been estimated to occupy the major share, in terms of value, in 2019.
Price differences in active ingredients is a major factor, due to which, the amino acids segment is projected to remain dominant in the market, in terms of value. In terms of volume, the dosage rate plays an integral role in the effectiveness of biostimulants. Since the dosage rate of humic substances is much higher in comparison, as they are mostly preferred for foliar applications, they dominate the market, in terms of volume, in 2018. Earlier, biostimulant products were majorly offered as a single active ingredient, which imparted specific functions such as stress tolerance or enhancement of crop quality. However, due to intense research on this market, formulations for blending multiple active ingredients have been developed by players such as Valagro (Italy).
The increasing awareness of nutritional benefits associated with biostimulants and their application on broad-acre crops have widened the scope of growth within the biostimulants market.
The usage of biostimulants has evolved immensely from high-value crops such as fruits & vegetables to broad-acre crops such as cereals, pulses, and fiber crops. It has been observed that biostimulants enhance the uptake of nutrients, develop tolerance to abiotic stresses, and increase the vigor and yield of crops such as wheat, rice, and barley. The immense possibility in the application of biostimulants for these broad-acre crops can lead to the significant growth of this market. Many domestic manufacturers have begun to realize the prospective demand in the coming years, with several launches targeted on crops such as rice, corn, and wheat.
On the basis of form, the liquid segment is projected to witness higher growth in the biostimulants market.
Various factors, such as the type of crop, type of storage available, size of the field, and weather conditions in the region, are attributable to the selection of the form, in which, biostimulants ought to be used. Most biostimulants are available in the liquid form. However, dry soluble formulations are also being made available, owing to their ease of handling and increased shelf life. Suspension concentrate formulations are the most commonly available liquid form of biostimulants. Major companies that manufacture liquid-based biostimulants include Ilsa (acquired by Italy-based Biolchim), UPL (US), Koppert (Netherlands), BioAg Alliance [Monsanto (US), and Novozymes (Denmark).
Key Market Players
There are many domestic and global players that provide biostimulants for a wide range of crops across the world. Major manufacturers are based in Europe and Asian countries. In multiple regions, due to unclear regulation, an ambiguity exists between biostimulants and biofertilizers. Hence, the scope of this report includes a detailed study of those biostimulant manufacturers, whose portfolios mention the products as biostimulants. Key companies in the biostimulants market are BASF (Germany), Isagro (Italy), Valagro (Italy), Bayer (Germany), Italpollina (Italy), Koppert Biological Systems (Netherlands), Acadian Seaplants (Canada), UPL (India), and Biolchim (Italy). Various strategies such as acquisitions, joint ventures, and new product launches were adopted by the companies to enter the biostimulants market.
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Issued By Food Farming
Business Address pune
Country India
Categories Agriculture
Tags biostimulants , fruits vegetables , agriculture
Last Updated July 25, 2019