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Tuesday Jul 17, 2018
Tuesday Jul 17, 2018
The Global Biostimulants Market size was estimated at USD 1.74 Billion in 2016 and is expected to reach USD 4.14 Billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 10.2% during the forecast period.
Biostimulants help in improving microflora, which, in turn, improves nutrient uptake by plants. They increase antioxidant activity and reduce plant stress against the environment and various diseases. The hormones stimulate growth, root development, and cell enlargement, thereby aiding the vigor and overall health of the plant. They comprise natural and environment-friendly degradable materials, which do not affect plant surroundings. As a result, they are witnessing high demand in organic farming practices.
Key market players include Novozymes A/S, Platform Specialty Products Corporation, Valagro Group, and Koppert B.V. Although the market is in an emerging stage in developing economies, particularly in Asia Pacific, it offers excellent prospects for new entrants as well as established players.
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