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Global Plant Bio-stimulant Market worth US $2,263 million in 2018

(Food-Beverage-News.Com, October 16, 2019 )

Biostimulants, also known as agricultural biostimulants or bio-activators are chemical or organic substances and microorganisms that shows positive effect on general health, growth, and vitality of the plants. Biostimulants are used along with wide array of crops including fruits and vegetables, cereals, and grains. The addition of these materials stimulate the natural processes to improve nutrient uptake and enhance quality and yield of the produce. Plant biostimulants can be applied to plants, seeds, or the upper layers of soil associated with plant root systems.



Growing demand for eco-friendly and organic products

Rising pressure on agriculture sector to contribute to sustainable practices against climate change is driving the demand for bio-stimulant products. Consumers are increasingly demanding for food products that are produced with fewer chemicals, with more natural compounds. Unlike fertilizers, bio-stimulants are often applied in smaller quantities (just a few kilos or liters per hectare), which leads to the farming with fewer chemicals. Bio-stimulants are also used as complementary for fertilizers to enhance the intake of nutrients and minerals. Thus the increasing demand from consumers has led the farmers to opt for greener options such as bio-stimulants. Properties such as increase yield, tolerance to abiotic stress, assimilate nutrients, enhancing crop quality and soil health are driving the demand for bio-stimulants.



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https://www.datamintelligence.com/research-report/plant-biostimulants-market



Cereals and Grains is the leading segment of the market

With a share of over 34% in the global sales value, cereals and grains are dominating the plant biostimulants market in 2018. The lucrative growth rate of 10.62% estimated over the forecast period owing to the growing popularity of plant biostimulants in wintering crops such as rape and wheat in the U.S. and Europe will help cereals and grains hold its dominance till 2026. The consumption of biostimulants is likely to witness a growth of 13.5% in turf and ornamental crops. The need for soothing and warming surroundings and need for soil restoration are driving the use of bio-stimulants in turf and ornamentals crops.

Europe is leading in the utilization of plant biostimulants

The Europe Plant Bio Stimulants market is estimated to reach a market value of $2094.91 million by 2026 from an initial market value of $934.28 million in 2018. The market is estimated to grow at a CAGR of 10.66% in the forecasted period 2019-2026. Europe is the leading developer of biostimulants and has largest market that accounts for about 41.29% of the market share in global plant biostimulant market in 2018. According to the European Biostimulants Industry Council (EBIC) over $679.8 million sales of biostimulants is witnessed in Europe in 2015 at an annual growth rate of 10-12%. Europe has more than 150 R&D partnerships with universities and other public institutions. Around 200 Biostimulant manufacturers are present in Europe, of which 75% of them are located in rural areas and small cities. About 65% of the biostimulant companies are comprised of small and medium enterprises. EBIC members reinvest about 3% to 10% turnover in R&D activities of Bio stimulants. Around 10-33% of the staff are involved in R&C activities. As of 2015, according to EBIC, It takes around 2-5 years of time to launch a new bio stimulant product in the market. In Europe, testing of products for horticultural crops has proved major quality improvements for growers of tree fruit, soft fruit, protected veg and field veg in recent years.



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Competitor Landscape

Plant bio-stimulant Market is highly fragmented. Players are very active in sustaining their market positions by launching the new products, partnerships, collaborations and investment in R&D activities. The key players in the market are undergoing collaborations to increase their product portfolio and production capacities in other countries. Some of the major strategies in the plant biostimulant industry are

• In January 2018, Sigma Agriscience has acquired a controlling interest in AM-AG, to strengthen its distribution network for granular product line of biofertilizers and bio-stimulants.

• In May 2018, Valagro has announced the construction of new plant in 65,000-square-foot area in USA with an investment of about USD 14 million. Construction is expected to start in fourth quarter of 2018 and will be online in third quarter of 2019.

Other notable players in the market include Isagro S.P.A, Arysta Lifescience Corporation, Taminco Corporation, and BASF SE.



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