ALBANY, N.Y., July 21, 2020 /PRNewswire/ -- The biostimulants market is banking greatly on the cutting-edge properties it has for improving productivity in crops. Furthermore, biostimulants also aid in improving photosynthetic activities, encouraging root system development, and strengthening the nutritional value of crops. Sustainable agriculture may also add a dimension of growth to the biostimulants market throughout the forecast period.
According to the prediction by the researchers at Transparency Market Research, the global biostimulants marketis anticipated to reach ~US$ 5.5 bn by 2027 and may record a CAGR of ~12% athwart the forecast period of 2019-2027.
The use of biostimulants in applications like turfs, ornamental flowers, cereals and grains, landscapes, fruits and vegetables, and oilseeds and pulses may bring good growth opportunities for the biostimulants market.
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Biostimulants Market: Analysts Eye View
The analysts at Transparency Market Research attribute the humongous growth of biostimulants market to a variety of factors such as technological advancements, the growing influence of sustainable agriculture, and focus on research and development activities. The analysts also advised the manufacturers in the biostimulants market to pay attention on the development of novel biostimulants and also allot a particular amount of resources for evaluating the functional aspects of these products.
Biostimulants Market: Major Revelations
- In the context of products, the humic acids and fulvic acids segment may garner considerable momentum during the forecast period; this segment also dominated the biostimulants market in 2018
- In terms of application, the fruits and vegetables application may serve as prominent growth multipliers for the biostimulants market
- The biostimulants market in North America may expand at a CAGR of more than 11% during the forecast period of 2019-2027
- The highly fragmented biostimulants market comprising numerous small and medium scale biostimulants producers who constituted nearly 60 percent in 2018 and expects the same run through 2019-2027
Explore 239 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Biostimulants Market (Product: Humic Acids &Fulvic Acids, Amino Acids, Microbial Stimulants, Seaweed, Vitamins, and Biorationals; and Application: Fruits & Vegetables, Oilseeds & Pulses, Cereals & Grains, Turfs, Landscapes, and Ornamental Flowers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/pressrelease/biostimulants-market.htm
Biostimulants Market: Growth Aspects
The growing awareness about the nutritional benefits etched with biostimulants may bring extensive growth opportunities for the global biostimulants market across the forecast period of 2019-2027.
- Research and development activities involving the discovery of novel techniques and mechanisms may serve as a great growth generator for the biostimulants market; for instance, a group of Indian scientists is researching the use of seaweed-based biostimulants to enhance crop productivity
- Biostimulants offer nutrients that are important for plant metabolic processes; this factor helps in increasing the growth rate of the biostimulants market
- Blending multiple active ingredients has resulted in forming biostimulantsthat cater to a number of processes at the same time; this aspect can lead the biostimulants market toward prosperity
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Importance of Government Support and Novel Initiatives for Growth of Biostimulants Market
Government support is an essential component and forms the foundation of the growth of the biostimulants market. The U.S. Agriculture Improvement Act, 2018 is a classic instance. This bill provides a clear guideline for distinguishing biostimulantsfrom other products such as pesticides and fertilizers. In addition, the initiatives of the governments of various countries to create awareness about the use of biostimulants across various crops may provide a great impetus of growth for the biostimulants market.
The Indian Government is also planning to release regulatory guidelines for biostimulants. These guidelines will help in the distribution of genuine products to the farmers as well as to authenticate the efficacy of the biostimulants.
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Biostimulants Market: Segmentation
- Humic Acids &Fulvic Acids
- Amino Acids
- Microbial Stimulants
- Biorationals (including Minerals)
- Oilseeds & Pulses
- Cereals & Grains
- Fruits & Vegetables
- Ornamental Flowers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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