LONDON–(BUSINESS WIRE)–#AgricultureIndustry–The global biostimulants market is expected to post a CAGR of more than 12% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report

The growing consumer demand for organic food products is encouraging farmers to adopt organic farming practices. Biostimulants are widely being used in the form of vermicompost, composted urban waste, protein hydrolysate, and chitin/chitosan derivates in organic farming. This is because biostimulants improve the quality and yield of crops and also enhance productivity. With the growing consumer focus on healthy food products, the demand for biostimulants will increase significantly during the forecast period.

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As per Technavio, the reduction in arable land will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.

Global Biostimulants Market: Reduction in Arable Land

Factors such as rapid industrialization, urbanization, and the expansion of population have led to the reduction of arable land across the world. In addition, inappropriate agricultural practices and deforestation have reduced the fertility of the available arable land. During the forecast period, the demand for food is expected to rise significantly owing to the increase in the global population. These factors are expected to increase the use of biostimulants to improve crop yield so as to meet the growing requirement for food. Therefore, reduction in arable land is one of the key trends which is anticipated to boost the growth of the global biostimulants market.

“Global initiatives to improve agricultural output and upcoming regulations encouraging the use of biostimulants will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Biostimulants Market: Segmentation Analysis

This market report segments the global biostimulants market by geography (APAC, Europe, MEA, North America, and South America), product (acid-based, extract-based, and others), crop type (raw crops and cereals, fruits and vegetables, turfs and ornaments, and others) and application (foliar, soil, and seed).

The Europe region led the market in 2019, followed by APAC, North America, South America, and MEA respectively. During the forecast period, the Europe region is expected to maintain its dominance over the market. This is due to the rise in the production of fruits and vegetables in the region.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

• Geographic comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Vendor classification
• Market positioning of vendors

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