In modern agriculture, the growth of the bio stimulants market is attributed to the expansion of the organic food and beverage industry owing to the growing demand for high-quality crops and agro foods. Bio stimulants reduce the dependency on chemical fertilizers and contribute to boosting the uptake of microbial inoculants composed of micro-organisms associated with plant yield. The trend that is flouring in the bio stimulants market is organic bio stimulants for processes such as seed germination and bioaugmentation. For the future of the agriculture industry, organic bio stimulants are significant for promoting organic farming practices. These bio stimulants inflate soil microflora that enhances the nutrients more efficiently. Organic bio stimulants such as humic acids boost the internal defenses against environmental and disease pressure and increase the antioxidant activity in plants. Additionally, the demand for organic bio stimulants is rising due to an increase in the production of organic food products without using any pesticide or fertilizer.
As a consequence, the global bio stimulants market was valued at $2.5 billion in 2018 and the demand is poised to grow progressively at a CAGR of 11.5% during the forecast period 2019-2025.
Novel Plant Bio Stimulants Helps Overcoming Arable Land and Growing Population Problem
The current world population is 7.6 billion, which is estimated to reach 9.8 billion in 2050 and 11.2 billion by 2100. The growing population is compelling modern agriculture to produce more crops and food in a more sustainable and eco-friendly way. However, as of 2016, only 37% of the world’s land was capable of being ploughed and used for growing fruits, vegetables, and crops. There is a huge shortfall between the arable land and the amount of food to be produced to feed the growing population. Subsequently, the decrease in the arable land is enlarging the use of bio stimulants to protect the crops from the chemicals and to increase crop yielding process. As a result, an innovative technology that can overcome these challenges is the development of novel plant bio stimulants, an emerging trend in the global marketplace. The novel plant bio stimulants belong to the group of protein hydrolysates that influences the root and shoots the growth of the plants depending on its concentration. It is efficiently being used for maize seedling in the hydroponics method of cultivation. Thus, this is enhancing the growth of the bio stimulants market in the agriculture industry.
Foliar Segment Leading Bio Stimulant Market through to 2025
Based on the segmentation, the foliar is the dominating segment in the bio stimulants market, growing at a notable CAGR 11.2% during the forecast period. The segment is projected to drive growth to the market due to less labor requirement, easy usage, a faster rate of adoption, and enhanced productivity. It enables to improve the deficiencies, strengthen the damaged and weak crops, and speedy growth. Epiphytic microbiota enhances the development of bacteria affected by Foliar in bio stimulants. This development of bacteria plays a crucial part in enhancing the plant metabolic capacity that benefits the plants. The increasing food demand in order to boost the farm yield is eventually stimulating the consumers to prefer the bio-based products for boosting the crop yielding. Furthermore, the growing acceptance of foliar fertilizer treatment has enhanced the biological microbes and farming techniques which is driving the growth of the bio stimulants market. Foliar fertilizer responds quickly that increases the efficiency of nutrition uptake. The nutrition uptake in plants increases by 8-9 times when foliar is applied to the leaves as compared to the soil. Therefore, to cure the deficiency symptoms a temporary and quick solution is applying deficient nutrient through foliar.
Europe Witnessing the Highest Growth Rate
As of 2018, Europe accounted for 39% of the regional share of the global bio stimulants market revenue. This is attributed to the changing habits for organic products and soaring demand for agronomic products. The European Union’s stringent regulations on environmental safety support organic farming in France, Germany, and Italy. The formation of a few more organizations such as Bio stimulant Coalition and the European Bio stimulants Industry Council (EBIC) has influenced the growth of the market. This has certainly paved its way for thriving the bio stimulants the market growth. EBIC encourages the beneficiation of plant bio stimulates for making more sustainable agriculture. By doing so, EBIC is promoting further development and growth of the European Bio Stimulating market. This has supported the farmers, investors, and consumers drastically which has simultaneously increased the bio stimulants market growth.
· Farmers: With the help of EBIC, the farmers are able to meet the growing agricultural demand through bio stimulants. It also has a positive impact on farm profitability, has improved the crop yield, and quality of the crops. EBIC has also helped the farmers to invest in the most investment along with reduced environmental stress and added benefits and.
· Investors: Due to the growing bio stimulators sector, the investors are potentially interested in investing in the market. However, the investors have relatively less information about the product and the investments to be made, therefore, EBIC guides the investors with the basic details about the bio stimulant products, drivers of the technology’s emergence, and the industry.
· Consumer: Consumers expect healthy, affordable and plentiful foods that have been produced organically and are free from pesticides and chemical fertilizers. EBIC promotes the standards that protect the safety and the health of the consumers.
Some of the major crops where bio stimulants are used widely are pepper, tomato, citrus, pome fruits, grape, olives, eggplant, ornamentals oilseed, sugar beet, turf, and flowers. There is an increase in demand for these as they are grown organically in the region, which is the major factor that is driving the market growth.
The Major Players in the Market
Some of the key players operating in the bio stimulants market are Arysta LifeScience Corporation, BASF SE, Arysta LifeScience Corporation, Novozymes A/S, Italpollina spa, Isagro, Koppert B.V., Syngenta AG, Platform Specialty Products Corporation, Taminco BVBA, and Valagro SpA. Many companies are introducing new products in order to increase their market presence or entering into strategic mergers and acquisition, joint ventures, and partnerships. Some of them are mentioned as follows:
· Valagro Launches YieldOn and Opifol in India
In August 2018, Valagro, a global leader in the market and production of bio stimulants, launched their products, Opifol and YieldOn in the Indian market. The aim is to improve the productivity and the quality of the row crops. The growing population of India attracted the company to invest in the agriculture industry. The products will support the demand among in the marketplace for a higher return on investment, improved quality, productivity, and sustainability of the row crop. It also involves a combination of macro and micronutrients. YieldOn is the most suitable bio stimulants that will help the Indian farmers to grow better and maximize crop yielding. This will influence other companies to launch similar products in the bio stimulants market in India.
· Valagro Expands its Production Unit in Brazil
In May 2017, Valagro expanded its new production plant in Brazil. It opened two production lines for the packaging and the production of water-soluble fertilizers and bio stimulants. The maximum capacity of these two plants is 50,000 tons per year along with high-storage capacity. The plant built with an investment of 10 million euros with guaranteed efficiency and eco-sustainability.
· UPL Acquired Arysta LifeScience For $4.2 Billion
United Phosphorus Limited, an Indian MNC and agrochemical manufacturer, acquired Arysta LifeScience Inc., a New York-based company in 2019 for $4.2 billion. This acquisition will upraise the position of UPL Ltd. in the global market with EBITDA and sales of around $1 billion. The acquisition is expected to provide an international platform for 13,000 products with this new establishment. The new entity will focus on the R&D, high growth geographies, healthy mix of high-value crops, and will achieve sustainable growth and opportunities from significant synergies. Such acquisitions is enhancing further bio stimulants market growth
· Arysta LifeScience Signed a Definitive Agreement with Etec Crop Solutions in New Zealand
Arysta LifeScience amalgamated with Etec Crop Solutions, a significant supplier of agrochemical solutions, to form Arysta LifeScience New Zealand in May 2018. This acquisition will focus on the tailored local solutions and specialty applications across the entire spectrum of horticulture, arable, pastoral, pest control, forestry, and turf market. Also, it will benefit the product positioning along with creating a strong relationship and the presence in the market.
· Italpollina Acquired Sarasota-based Horticultural Alliance Inc.
In May 2019, Italpollina, producer of organic fertilizers and vegetal-based bio stimulants, acquired Sarasota-based Horticulture Alliance Inc. This acquisition provided Italpollina a second location in the U.S. The aim behind the acquisition is to provide an efficient route to Itapollina products in the nursery market, especially for the microbials which are used as major source ingredients. The company will continue to develop its production technologies and distribution strategies in order to support the agriculture segment in North America.
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