iCrowdNewswire Jan 21, 2021 4:09 PM ET
Global Biostimulant market will be entering unexplored territory and holds huge potential and ample scope of growth. The global biostimulants market is majorly driven by the need for an increase in yield per hectare owing to rising global population and their demand for food. Various Government initiatives, amplified funding and grants for sustainable agriculture are supporting growth of biostimulants market. Biostimulants are increasingly finding applications in agriculture and horticulture sector owing to the benefits such as improved metabolism, water holding capacity, chlorophyll and antioxidants production. Increasing demand for clean label food & beverages owing to rising awareness about healthy lifestyle is leading to the expansion of organic farming across the globe.
These factors will support the growth of global biostimulants market during the forecast period 2020-2024.
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Major Key Players
- BASF SE (Germany)
- Sapec Group (Trade Corporation International) (Spain)
- Arysta Life Science Limited (Japan)
- Isagro S.P.A (Italy)
- Valagro S.P.A (Italy)
- Koppert B.V (The Netherlands)
- Italpollina (Italy)
The Global Biostimulants Market is highly competitive due to the presence of some well-established regional and global players. The competitive environment of this market is projected to intensify with an increase in product portfolio and also increasing number of key players. The Global biostimulants market is segmented on the basis of by type, crop type, active ingredients, application and country.
The global biostimulants market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these Europe region has the major market share. The Europe dominates the biostimulants market. Emerging markets like India and China have been considered as potential markets for biostimulants due to growing demand for organic food and beverages. Global biostimulants market is highly concentrated in Europe. Biostimulants manufacturers are focusing on expanding their product line by providing larger product line with huge application in farming. Asia-Pacific is projected to grow at the highest CAGR 11.23% from 2020 to 2024.
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