Biostimulants are microorganisms or substances based on natural or synthetic compounds added to seeds, plants or the surrounding soil, along with other substrates. Biostimulants stimulate natural growth rate and metabolism process of plants, thus increasing their efficiency and nutrient content. Biostimulants are important for crop protection and crop nutrition. Owing to their positive result on various agricultural practices, they are extensively used in fertilizer, agrochemicals, and food technology industries. Biostimulants can be used to reduce the level of abiotic stress in plants, which is another factor increasing the growth of the biostimulants market. Biostimulants nurture plant development and growth during the life cycle of crop from seed germination to plant maturity in many ways. Biostimulants improve the efficiency of the metabolism of plant to enhance yield increase and crop quality. They increase plant tolerance and recovery from abiotic stresses. Biostimulants enhance soil fertility, especially by raising the development of complementary oil micro-organisms and help plants to use water more efficiently.
Investment is being made globally in the biostimulants sector owing to its significant growth potential. The global biostimulants market is expected to witness significant growth over the next four years, owing to increasing consumer demand for eco-friendly and organic food products. Europe witnessed the largest share in global biostimulants market in 2015, followed by North America. Asia-Pacific is also expected to observe high demand for biostimulants, owing to increasing domestic need in the region. Biostimulant products are being used in horticulture and agriculture applications. The increasing number of acquisitions, partnerships and mergers in the industry owing to high potential of biostimulants are expected to bring in more investments for R&D during the forecast period.
Some of the major competitors in the global biostimulants market include Acadian Seaplants Limited, Micromix Plant Health Limited, Valagro S.p.A, Omex Agrifluids Ltd., BASF SE, The Dow Chemical Company, Isagro S.p.A., Trade Corporation International, Koppert B.V., Platform Specialty Products Corporation, and Others.
