Biostimulants help in developing microflora, which, in turn, improves nutrient uptake by plants. They rise antioxidant activity and reduce plant stress against the environment and various diseases. However, lack of education and awareness among farmers, and number of challenges faced by new entrants and small players restraints the growth of biostimulants market. Also, unavailability of standardized regulatory framework for biostimulants and scientific & technical challenges for improvement of biostimulants challenges the growth of this market to some extent.

Global Biostimulants market

Biostimulants market is segmented into active ingredient, crop type, application, form, and region. In terms of active ingredient, Acid-based biostimulants formed the largest active ingredient segment in 2017. Products based on fulvic, humic, and amino acids are contain in the acid-based segment. Seaweed extracts are expected to register the fastest growth rate over the forecast period. These are primarily used as biostimulants owing to presence of plant growth substances such as cytokinins, auxins, and gibberellins carbohydrates.

Based on crop type, Row crops and cereals lead the overall biostimulants market based on crop type. Biostimulants rise the rate of cell division, seed size, and yields for row crops such as soybeans, corn, and barley. Global agriculture professionals are growingly adopting biostimulants for cultivation of row crops and cereals. Moreover, growing demand for organic cereals is expected to further boost this segment.

On the basis of application, foliar application dominated the market in 2017, and is expected to maintain this trend during the forecast period. Seed application is among the most cost-effective applications as compared to conventional spraying techniques. The application is performance-efficient as well as not as labor intensive as other methods.

In terms of region, Europe dominate the global biostimulants market. Supportive regulations to increase production of organic foods are anticipated to increase the application of biostimulants. Asia Pacific is expected to witness promising growth over the forecast period on account of presence of various agriculture-driven economies such as India, China, and Australia.
Some of the key players in the biostimulants market are BASF SE, Novozymes A/S, Isagro Group, Sapec Group, Biolchim S.P.A, Platform Specialty Products Corporation, Valagro Group, Koppert B.V., Italpollina SAP, and Biostadt India Limited.

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