The acid-based biostimulants market is accounted for more than US$ 700 Mn in the year 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Acid-Based Biostimulants Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global Acid-Based Biostimulants Market, By Product (Amino Acid Based Biostimulants, Humic Acid and Fulvic Acid, & Others), By Application (Fruits and Vegetables, Turf and Ornamentals, Row Crops, Other), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global acid-based biostimulants market is accounted for more than US$ 700 Mn and expected to grow at a significant CAGR of 9.4% during the forecast period and expected to reach the value of US$ XXX Bn in 2025.
As per the report, the rise in demand for high-value crops across the world is majorly driving the growth of the global acid-based biostimulants market. The products that minimize or eliminate the need for fertilizers and increase in plant growth are known as biostimulants. Also, in order to improve the efficiency of nutrition, plant quality traits, and abiotic stress tolerance despite its nutrient contents, biostimulants are utilized. Notably, biostimulant compositions consist of several raw materials, such as hormones, humic acids, algae extracts, and plant growth-promoting bacteria. Biostimulants have gained considerable popularity over the past decade, owing to a significant amount of research.
In recent times, biostimulants have widespread applications in the plant production process to improve plant quality, growth, yield, and help other plants in handling environmental stress. Owing to this, the global acid-based biostimulants market is expected to grow positively in the near future. Additionally, the rise in need to increase crop yield and quality across the world, owing to the rise in the demand for organic food among the population is also expected to propel the growth of the global acid-based biostimulants market.
Moreover, the numerous benefits of biostimulants are also contributing to the growth of the global acid-based biostimulants market as biostimulants also support in enhancing photosynthetic activities, stem system development, improving uniformity of plants, and streamline flowering. In addition to that, the key market players involved in the biostimulants global market value chain, involving consumers, investors, regulators, and farmers are evaluating the other potential applications of biostimulants in sustainable agriculture. Currently, the guidelines are formulated pertaining to the usage of biostimulants, by both, developed as well as the developing nations. Attributing to which, the global acid-based biostimulants market is expected to grow positively during the forecast period.
Furthermore, the growth in the trend of organic farming across the globe, wide scope of benefits of biostimulants in crop production, and growth in the awareness regarding environmental safety with the use of biostimulants are also expected to augment the growth of the global acid-based biostimulants market.
However, some other factors like lack of knowledge and inadequacy among farmers and various other challenges to new entrants and small companies across the globe are likely to hinder the growth of the global acid-based biostimulants market.
MMC study identifies some of the key participating players in the acid-based biostimulants market globally are Novozymes A/S, Isagro SAP, Sapec Group (Trade Corporation International), Platform Specialty Products Corporation, Biolchim S.P.A, Valagro SAP, Koppert B.V., Biostadt India Limited, Italpollina SAP, and BASF SE, among others.
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