Global biostimulants product market to reach $2,241.0 million by 2018

The global biostimulants market report shows that the global biostimulants product market is projected to reach $2,241.0 million at a CAGR of 12.5% by 2018. It has grown exponentially in the last few years and this is expected to continue.

According to the regions, Europe was the largest market for biostimulants products in 2012, projected to grow at a high CAGR from 2012 to 2018. North America accounted to around 20% of the market share in the global market. Spain was the largest European biostimulants market as of 2012. Biostimulants products market is expected to be fastest growing in Latin America followed by APAC. India and Australia in APAC region are the largest markets, which are expected to grow further by 2018.

A continuous increase in consumer demand has driven the growth in the biostimulants products market. The most important factors for increasing demand for biostimulants consumption are their organic origin, and environment friendliness. Biostimulants are considered as a boon for development of sustainable agriculture. Other important factors of biostimulants are crop specific and targeting particular feature of crop for development.

The biostimulants market now has a range of innovative products, to target specific crop needs, thus biostimulants market is broadening around the world and attracting more customers.