Toxicity of the fertilizers and chemical stimulants has degraded the global agricultural lands. Hence, there is a dire need for healthy crop enhancement. There is a need for natural ways of improving the crop process and health. Biostimulants provide a great solution to this problem. They are eco-friendly, nontoxic and are based on advanced technologies. It is the reason why the biostimulants market is buzzing with rising demands for these healthy ways of improvised crop processing and enhancement. Biostimulants are natural components that have various natural formulations of the compounds. Application of these compounds to the soil increases and regularizes the crops.
Biostimulants are broadly categorized in two basic categories, which are- extract based and acid based products. These categories have various types and sub-types. One needs to consider all these types in order to understand the position and importance of these products in the agricultural industry. In order to understand the size and reach of the biostimulants market, one needs to study the segmentation in this market. Segmentation is largely based on the active ingredients, crop types, applications and geographical demands for these products. As far as global demands are concerned, Europe is leading the market, which is followed by North America, Latin America, Asia Pacific and Australia.
Apart from the acid-based and extract-based products, biostimulants are categorized based on the active ingredients. Humic acid, amino acid, fulvic acid and seaweed extracts are the basic active ingredients in these products. Foliar, soil and seed are the three essential application fields for biostimulants. As far as the crop types are concerned, these compounds are ideal to be used for row crops, ornamentals, turf, fruits and vegetables. The global demands for these compounds is increased in the row crops and fruits and vegetables sector.
Global biostimulants market is estimated to reach to $2,241 million by 2018. The market is forecasted to rise at an estimated CAGR of 12.5% from 2013 to 2018. As mentioned before, Europe has been the leader in this market, which is followed by North America. Apart from these leading consumers, these compounds will be on a greater demand in various other parts of the world. Interestingly, Asia Pacific region and certain countries in this region including China and India will record increasing demand and consumption of biostimulants.
Similar results are expected from other countries including Brazil, Spain, Canada, Germany and Australia. These trends create better opportunities for technological inventions and business opportunities in this market.
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