Biostimulants Market, by Active Ingredients (Humic Substances, Microbial Amendments, Seaweed Extracts, Trace Minerals, Vitamins and Amino Acids), Crop Types (Fruits and Vegetables, Row crops, Turf and Ornamentals), Application Methods (Foliar, Seed, Soil) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2022
Chicago, IL -- (SBWIRE) -- 03/22/2017 -- Biostimulants Market is expected to grow from USD 1.69 billion in 2016 and reach USD 3.08 billion in 2022, growing at a CAGR of 10.50% during the forecast period.
Our industry experts anticipate that within the biostimulants market, the humic substances is expected to be the largest active ingredients segment, growing at a CAGR ranging from 10% to 15% during the forecast period. In addition, the turf and ornamentals is anticipated to be the fastest-growing segmented based on crop types, growing at a CAGR ranging from 10% to 15% during the forecast period. Geographically, Europe is expected to be the fastest-growing region in the market, growing at a CAGR ranging from 10% to 15% by 2022.
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KEY PREMIUM INDUSTRY INSIGHTS:
Growth in the demand for organic food products and the rising customer awareness about sustainable farming practices are the most important growth drivers for the biostimulants market.
Biostimulants decrease the reliance on the chemical fertilizers and plant growth supplements. Anecdotal evidence also suggests an improved product quality and taste profile after the use of biostimulants.
However, lack of evidence-based product trials, the high costs of commercial products, and the non-uniform regulatory environment have restrained the growth of the biostimulants market.
RESEARCH METHODOLOGY:
The research methodology for Scalar Market Research's biostimulants market report utilizes a combination of top-down and bottom-up research formats. Our primary focus on continuous market tracking, rigorous fact-checking, data-triangulation, and multiple layers of quality control ensures high-quality data that can be leveraged for actionable research insights.
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