Global Covid-19 Analysis on Biostimulants Market 2020 size might exceed USD 3.77 billion by the end of 2023. Dominant factors will drive the market to gain more prominence even in the pandemic caused by COVID 19, studies Market Research Future. The growth estimation is clicked at 11.09% from the years 2020 to 2023, which is also the forecast period set by market analysts.
Biostimulants Market—Boomers & Restraints
The mounting organic foods production without the adoption of good fertilizers collective with the dangerous effects of synthetic fertilizers and pesticides have questioned the environment safety and sustainability of agriculture for the future. Agricultural biological such as biopesticides, biofertilizers, and biostimulants have gained prime significance in recent years over the synthetic farming inputs as they have received rapid recognition as environment-friendly crop production inputs.
The rising agricultural emissions have encouraged the government to upscale the production of high-quality agricultural products with lesser or no emissions. As per the estimates of the Food and Agriculture Organization of the United Nations (FAO), agriculture emissions from livestock and crops grew beyond 5.3 billion tons in 2011 from 4.7 billion tons in 2001. Governments globally are trying to educate farmers about various benefits offered by bio-stimulant by launching several programs. These governmental efforts are projected to aid Covid-19 Analysis on Biostimulants Market growth in the forthcoming years extensively.
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Other than this, to encourage and support a favorable business environment for the industry, several regulatory authorities and councils have been formed. The number of associations formed for the regulation of novel products like these stimulants is escalating globally, which is predicted to be beneficial for the growth of the Biostimulants Industry. In fact, owing to a significant amount of research, biostimulants have gained extensive popularity in the past decade. At present, biostimulants are being used in the plant production process to enhance plant growth, productivity, quality, and assist various plants in dealing with environmental stress.
In the case of point, in November 2019, Lavie Bio announced it taking strides in the development of a new wheat-based biostimulant, which has now entered the next phase of development. Companies such as Lavie Bio are thus expected to formulate efficient growth strategies that will scale-up production and are in-sync with application protocols.
Horticulture production techniques and patterns are continually going through waves of innovation as the global demand for environment-friendly crop management. While on the other side, inorganic agriculture was steadily losing its shine and resulted in the deployment of pesticides, and fertilizers have declined. These factors have also strong handedly supported the market’s expansion over time and might continue with an expansion in the assessment period.
On the contrary, in many emerging economies, the lack of regulations associated with the commercialization of products is tagged to be a hamper towards the development and growth of the market in the forecast period. Also, factors such as limited awareness and availability of quality products and lack of trust in new products hinder the growth of the market.
The top players studied in the Covid-19 Analysis on Biostimulants Market are KOPPERT B.V. (Netherland), Agriculture Solutions Inc. (Canada), ARYSTA LIFESCIENCE Corporation (India), BASF SE(Germany), VALAGRO SPA (Italy), ITALPOLLINA SPA (Italy), KOPPERT Biological Systems (Netherland), FMC Corporation (US) and Acadian SEAPLANTS Ltd. (India).
Global Biostimulants Market is further studied over various segments, such as crop type, active ingredients, and application method.
By the segment of the active ingredient, Biostimulants Industry includes seaweed extracts, humic substances, amino acids, microbial amendments, and others.
By the segment of crop type, the market has included cereals & grains, fruits & vegetables, oilseeds & pulses, and others.
By the segment of the application method, the market has included soil treatment, foliar treatment, seed treatment, and others.
Europe Governs the Global Market: The European Union’s rigid regulations on environmental safety and support for organic farming have lined ways for a flourishing Biostimulant Industry in European countries like Italy, Germany, and France. The inventions in plant biostimulants, targeting specific agronomic needs, are attracting new customers in Europe.
The demand from the North American segment is also driving the demand for biostimulants as well, thus stimulating market growth.
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