Biostimulants assist in enhancing the microflora, which, in turn, results in improved efficiency of nutrient uptake by the plant. They increase the antioxidant activity and decrease the plant stress against the environment and various diseases. The hormones stimulate growth accompanied by root development and cell enlargement, therefore, promoting the vigor and overall health of the plant. Biostimulants contain natural and environment-friendly degradable materials, which do not affect the surroundings of the plant. Therefore, they are witnessing a high demand for organic farming practices. The organic food sector has been witnessing substantial growth in recent years owing to the rising health-related concerns among consumers. Organic food contains all the necessary nutrients and does not contain harmful toxins that are injurious to human health. According to the USDA, the ratio of import to export of organic products in the U.S. is 8:1. The growing demand for organic food has contributed toward the adoption of biobased products by food & beverage producers in the United States. Organic foods contain the necessary nutrients and do not possess unnecessary toxins that are harmful to human health. Organic vegetables and fruits have witnessed a noteworthy rise in demand in the past couple of years due to their nutritional value, fewer to no traces of residue of pesticides, and high sustainability. Consumers worldwide are gradually realizing the long-term benefits presented by organic farming. In 2012, the organic food sales in Germany reached USD 7.71 billion. According to the Organic Consumers Association, in 2016, approximately 140,000 farmers in Europe were engaged in organic farming and used about 12.6 million acres of land. This rise in organic farming is a result of the stringent environmental regulations in Europe and the growing consumer demand for organic products. Organic farming is most likely to witness unprecedented growth in the next few years due to the rising adoption in developing economies, which, in turn, is predicted to supplement the demand for biostimulants in the upcoming years.
Product innovation and constant research & development to enhance performance efficiency are most likely to create lucrative growth opportunities. Moreover, as it is a lesser-labor-intensive application technique, it is likely to witness mass adoption among small as well as medium-scale crop growers. Corn, soybeans, barley, oats, millets, and cotton are referred to as row crops or commodity crops. These crops are grown widely across the globe in large areas and offer lucrative growth opportunities for biostimulants. The average farm size for vegetable production has increased giving escalation to more growth opportunities for biostimulants makers in Canada. The demand for potato, which is the fourth largest consumed vegetable across the globe is witnessing an increase owing to the increasing consumption. These factors are expected to provide ample growth opportunities for biostimulant producers in the United States. The UK has been aiming to meet the demand for barley and sorghum from China, however, China recently shifted to importing barley and sorghum which has resulted in the UK planning for increased production of barley and sorghum. This is expected to provide growth opportunities for the producers of biostimulants in the region. The agriculture sector in the Asia Pacific region is witnessing growth accompanied by an increasing population that is mainly reliant on the farming sector, posing lucrative growth opportunities for the biostimulants market in the region.
The growth of the global biostimulants market is highly controlled by the lack of awareness regarding the benefits related to the usage of biobased products in agricultural activities among farmers. Most of the consumers, farmers in developing economies, are unaware about the application of biostimulants. Lack of awareness regarding the biostimulants among farmers has been a major concern. Most farmers still use synthetic pesticides for crop protection and the enhancement of plant growth. A large section of farmers across the world is still unaware of its advantages over other fertilizers and does not use biostimulants for soil amendment or crop growth. Lack of knowledge and illiteracy among most farmers in developing countries such as China, India, and others is one of the most interfering factors in the growth of the biostimulant market. A large number of farmers in the region are unaware of the advanced farming techniques used in sustainable farming. Farmers and consumers need training and assistance from experts such as soil scientists and horticulturalists about the potential benefits of biostimulant applications to reduce the restraining force. A robust industry is only possible if farmers and consumers are aware of the potential benefits of organic farming. Farm planning and management assistance, sessions with crop advisors, and meeting with representatives from various seed companies are some of the solutions how consumer and buyer awareness can be increased
This section will provide insights into the contents included in this biostimulants market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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