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Global biostimulants market to reach $2.52 bn by 2019
Dec. 9, 2014
The biostimulants market is estimated to be worth $1,402.15 million in 2014 and is projected to reach $2,524.02 million by 2019, at a CAGR of 12.5% due to increasing importance for organic products in the agriculture industry, as studied from 2014, according to a report published by Research and Markets.
The market for biostimulants has a significant impact on not only human health, but also on the environment. Biostimulants are broadly categorized in acid-based and extract-based, on the basis of active ingredients. Biostimulants can be applied in a variety of methods in agriculture and horticulture such as by foliar, seed, and soil application. There has been a tremendous increase in the demand for biostimulants for greater yield of crops.
The size of the overall market was derived using forecasting techniques based on active ingredient production, application techniques, and area under application, crop yields, and trade trends in various regions. North America and Europe were two of the largest consumers of biostimulants in 2013. Growth is particularly high in emerging countries such as China, India, and Brazil, because of the rising domestic demand.
The application of biostimulants application is increasing in developing countries. The players in this market have developed a range of innovative products to target specific crop needs. Thus, the biostimulants market is gaining more global presence and acceptance among customers. Key participants in the biostimulants market include Bayer CropScience (Germany), Valagro S.p.A (Italy), Arysta LifeScience Corporation (Japan), Biostadt India Limited (India), and Koppert B.V. (The Netherlands). These players are implementing different strategies to achieve growth and development in the biostimulants market.
Source: researchandmarkets
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