Global biostimulants market is anticipated to witness considerable growth over the next seven years owing to increasing consumer demand for environment friendly and organic food products. In addition, growing demand for stimulators resulting in high crop yield is expected to fuel the biostimulants market over the forecast period. Growing investments by major market participants in large scale production of biostimulants is anticipated to cater to growing consumer demand in agricultural segment. Moreover, stringent government regulations on use of chemical fertilizers are expected to augment the biostimulants market growth over the forecast period. EU and U.S. are expected to witness huge growth opportunities owing to alterations in fertilizer legislation. R&D by major industry participants along with technological developments for better crop productivity is poised to create biostimulants growth opportunities over the next seven years. Shift in dietary patterns coupled with rising health awareness and improving living standards are expected to create additional growth avenues. The product is used for various crops including fruits & vegetables, row crops and turf & ornamental crops. As of 2013, acid-based biostimulants account for the largest market segment owing to its superior properties followed by extract-based biostimulants.
Europe witnessed the largest share in the global biostimulants market in 2013 followed by North America. Asia Pacific is also anticipated to observe high demand for biostimulants owing to increasing domestic need. The product can be widely used in horticulture and agriculture applications including seed, foliar and soil. Increasing number of acquisitions and partnerships in the industry owing to immense potential of biologics are expected to bring in more investments for R&D over the forecast period.
In 2012, Bayer CropScience acquired U.S. based biological company Agraquest for USD 425 million. The acquisition came as an important step to strengthen its technology platform for green products. In 2013, BASF acquired U.S. crop technology company Becker Underwood to strengthen its crop protection business including insecticides, fungicides and biological control agents. In September 2012, Syngenta acquired Pasteuria Bioscience, a biotechnology company, for USD 86 million to broaden its biological products portfolio and meet the increasing demand for biopesticides. Monsanto also formed an alliance with Novozymes. Companies involved in the biostimulants sector come from various backgrounds including agrochemicals, biopesticide and fertilizer companies along with research organizations. Numerous patent registrations by key market participants are further anticipated to augment the industry rivalry and raise the barriers to entry Heineken España, S.A’s patent for “ Method for producing biofertilizers and biostimulants for agriculture and animal feeding ” (EP 2752399 A1) and Certified International Trading Co’s patent for “ Stable organic biostimulant useful in agricultural, horticulture and microbial processes and methods of producing same “ (US 6434884 B1) are anticipated to provide companies with a competitive edge over the other key players including Valagro S.p.A, Arysta LifeScience Corporation, Biostadt India Limited, and Koppert B.V.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.