(Food-Beverage-News.Com, June 20, 2018 ) Woodridge, USA Jun 2018(News) –Global Biostimulant Market is a diverse formulation of compounds, substances and micro-organisms used to improve crop yield, quality and tolerance of abiotic stresses. They can be applied either to plant or soil to foster plant growth and development throughout the crop life cycle from seed germination to plant maturity.
Biostimulants enhance soil fertility, particularly by fostering the development of complementary soil micro-organisms. Moreover, they are used to restore degraded soils by regulating soil pH and help in soil management. Inclination towards organic products among the rising population owing to negative side effects from chemical fertilizers will surge the market growth over the forecasted period 2017-2023. Globally the market for biostimulants is estimated to grow at the rate of about 10.92% from 2017 to 2023
The global biostimulants market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe is witnessed to dominate the market and will grow at a CAGR of 11.22%. However, Asia Pacific is projected to be the fastest growing region over the estimated period. India and China will be the major contributor for biostimulant market in this region.
The rising demand for organic and clean label food & beverages in emerging economies such as China, India, Japan, Australia, and the Latin American countries has opened doors for the market players in these regions.
Segments:
Biostimulants market by type has been segmented into natural and synthetic, natural biostimulant will dominate the market as the demand for organic and clean label food product has increased in the recent years. On the basis of crop type, market is segmented into fruits & vegetables, row crops, turfs & ornaments and others, row crop will dominate the market and will grow at a CAGR of 10.9%. On basis of application, market is segmented into seed treatment, foliar treatment, soil treatment.
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