SANTA CLARA, Calif., April 14, 2020 /PRNewswire/ -- The challenge of feeding the world's growing population from the limited resources of production, including arable land and freshwater, is creating opportunities for the global biostimulants market. As a result, the market is estimated to double, increasing at a compound annual growth rate of 12.1%, garnering revenue of $5 billion by 2025 compared to $2.52 billion in 2019.
"Dire needs for an efficient fertilizer to increase crop yield and combat abiotic stress among plants are driving farmers of the world to opt for alternatives, increasing the consumption of biostimulants," said Arun Ramesh, Visionary Science Research Manager at Frost & Sullivan. "Further, consumer demand for organic products is increasing the need for organic agriculture, resulting in products based on seaweed and plant extracts, and combinations of both with acid-based biostimulants or trace minerals, to gain traction."
Frost & Sullivan's recent analysis, Global Biostimulants Market, Forecast to 2025, includes a detailed examination of global market trends, including market drivers and restraints, technology trends, revenue and unit shipment forecast, regional trend & regulatory analysis, and competitive analysis. The study covers the geographic markets of North America and Latin America (NA & LATAM), Europe, Asia-Pacific (APAC), and the Middle East and Africa (MEA). By 2025, Europe is estimated to generate the highest revenue at nearly 41%, followed by APAC and NA & LATAM, standing at 28.3% and 23.7%, respectively. As for the percent of unit shipment, APAC will lead, followed by Europe, NA & LATAM, and the MEA.
For further information on this analysis, please visit: http://frost.ly/428
"The regulatory landscape for biostimulants across regions is unstructured, and the current scenario remains debatable," noted Ramesh. "Additionally, transparent approval mechanisms and appropriate product classification will encourage biostimulants manufacturers to come up with innovative products, thereby enabling market growth."
Increasing global population, manufacturers' focus on sustainable products, consumers' rising preference for organic products, and farmers' demand for higher crop yield and cost-effective solutions are presenting immense growth opportunities for market participants in the biostimulants space. Opportunities include:
Global Biostimulants Market, Forecast to 2025 is the latest addition to Frost & Sullivan's Visionary Science research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Global Biostimulants Market, Forecast to 2025
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SOURCE Frost & Sullivan