Global Biostimulant Market Report 2021: Foliar Spray Segment Expected to Account for Largest Share in 2021 – Forecast to 2028 | News
DUBLIN, December 10, 2021 / PRNewswire / – The “Biostimulants Market by Active Ingredients, Mode of Application, Formulation, Crop Type – Global Forecast to 2028” the report was added to ResearchAndMarkets.com‘s offer.
The global biostimulant market is expected to grow at a CAGR of 12.4% from 2021 to reach $ 5.9 billion by 2028, while in terms of volume, the market is expected to grow at a CAGR of 12.9% from 2021 to reach 864,094.7 tons by 2028.
The growth of this market is mainly attributed to such factors as increasing need to increase crop yield and quality, growth of organic farming and demand for organic food, wide range of benefits of biostimulants in plant production and increasing awareness of environmental safety with the use of biostimulants. On the other hand, the scientific and technical difficulties to develop biostimulants pose a challenge for the growth of the biostimulants market.
Based on the active ingredient, the biostimulant market is segmented into acid-based microbial amendments, based on extracts, trace elements and vitamins, and other active ingredients. Acid-based biostimulants segment is expected to account for the largest share of the biostimulants market in 2021. The significant share of this segment is mainly attributed to their easy availability, a wide range of plant benefits, and efficacy. higher. However, the extract-based biostimulants segment is expected to experience significant growth during the forecast period.
Based on the mode of application, the biostimulant market is segmented into foliar spray, soil treatment, and seed treatment. The foliar spray segment is expected to account for the largest share of the biostimulant market in 2021. However, the seed treatment segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its advantages: increased availability of nutrients in the rhizosphere, improved growth of roots and shoots, increased absorption of nutrients, protection against pathogens and better efficiency of use. nutrients.
On the basis of formulation, the biostimulant market is segmented into liquid and dry. The liquid formulations segment is expected to account for the largest share of the biostimulant market in 2021. The large share of this segment is mainly attributed to the better performance of the liquid formulation and its higher effective duration (up to 6 months) than that of the liquid formulation. of the dry formulation (up to 3 months).
Based on crop type, the biostimulant market is segmented into row crops, fruits and vegetables, turf and ornamentals, and other crop types. The row crop segment is expected to account for the largest share of the biostimulant market in 2021. The large share of this segment is mainly attributed to such factors as the huge area devoted to row crops across the world, the increase organic farming and growth use of biostimulants by farmers instead of chemical fertilizers or pesticides.
Geographically, the market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe is expected to account for the largest share of the global biostimulant market in 2021.
The large share of this region is mainly attributed to the growing concerns about chemicals harmful to the environment, the growing demand for organic food, the growing R&D activities on biostimulants and the presence of a large number of biostimulant suppliers. .
- Growing need to increase crop yield and quality
- Growing organic farming and demand for organic food
- 4Wide range of benefits of biostimulants in plant production
- Increase awareness of environmental safety through the use of biostimulants
- Lack of education and awareness among farmers
- Challenges for new entrants and small businesses
- Scientific and technical challenges in the development of biostimulants
- North America
- Asia Pacific
- Latin America
Impact of Covid-19 on the biostimulant market
The major players operating in the biostimulant market are
- Marrone Bio Innovations Inc.
- Biolchim SpA
- Bayer AG
- Andermatt Biocontrol SA
- Som Phytopharma India Limited
- BioWorks Inc.
- Novozymes A / S
- Koppert BV
- Gowan LLC Company.
- Italpollina SpA
- Rovensa SA
- Biostadt India Limited
- Olmix SA
- FMC Company
- Syngenta SA
- BASF SE
- BioAtlantis Ltd.
- Omex Agrifluides Limited
- Agrinos inc.
- Plant Health Care plc
- Haifa Group
- SICIT SpA Group
- EuroChem Group SA
For more information on this report, visit https://www.researchandmarkets.com/r/8roa3k
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SOURCE Research and Markets