The global bio stimulants market is expected to grow at a CAGR of 13.4% from 2019 to 2025 to reach $4.47 billion by 2025, according to a recent report.
It also said that in terms of volume this market is expected to reach 4,46,651.3 tonnes by 2025, growing at a CAGR of 12.4% during the forecast period.
The findings were revealed from the "Biostimulants Market by Active Ingredient (Acid Based, Extracts based), Application (Foliar Spray, Soil Treatment, Seed Treatment), Formulation (Liquid, Dry), and Crop Type (Row Crops, Fruits and Vegetables) - Global Forecast to 2025" report, which was published on December 13. This industrial research report presents all the valuable information related to the particular product for the Organic Farming market with highly enlightening format.
The report carries out an impact analysis of the key industry drivers, restraints, and challenges including extensive secondary and primary research and in-depth analysis of the market scenario.
The growth of this market is mainly attributed to the growing need to increase crop yield and quality, growing organic farming and demand for organic food, wide range of benefits of biostimulants in crop production, and growing awareness about environmental safety with the use of biostimulants.
However, lack of education and awareness among farmers and various challenges to new entrants and small companies hinders the growth of this market.
It also offers a comprehensive analysis of the global biostimulants segmented on basis of active ingredient (acid based, extract based, microbial amendments, trace minerals and vitamins, and others), application (foliar spray, soil treatment, and seed treatment), formulation (liquid formulation and dry formulation), crop type (row crops, fruits and vegetables, turfs and ornamentals, and others), and geography.
Acid based biostimulants segment is estimated to command the largest share of the overall biostimulants market in 2019. The large share of this segment is mainly attributed to their wide range of benefits to the plant, higher efficiency, and easy availability. However, extract based biostimulants market is expected to witness the fastest growth during the forecast period.
The liquid formulation is estimated to command the largest share of the overall biostimulants market in 2019. The large share of this form is mainly attributed to the liquid formulation's higher effective duration (up to 6 months) as compared to that of dry formulation (up to 3 months), as well as their better performance over dry formulation.
Global biostimulants market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia pacific region is estimated to register the fastest growth during the forecast period, primarily due to the large area under agriculture cultivation, rising need to increase the crop yield and quality, increasing demand for organic food, and various government initiatives to develop and increase application of biologicals in the region.