Europe Biostimulants Market to reach USD 1454.76 million by 2023

By | August 10, 2018

A biostimulant boosts plant development and growth throughout the crop life cycle, i.e., from seed germination to plant maturity. Biostimulants are biologically made fertilizers that are utilized to stimulate plant development and productivity, additionally to the nourishment of agricultural products. These fertilizers further help the farmer in facilitating nutrient translocation, assimilation, and use; and enhance soil fertility principally by stimulating the growth of mutually beneficial soil microorganisms.

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The Europe Biostimulants Market was priced at USD 698.3 million in 2016 and is predicted to be growing at a CAGR of 10.71%, to achieve USD 1,258.4 million by 2022. The European Union’s rigorous rules on environmental safety and support for organic farming pave the means for a flourishing biostimulants market in European countries.

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Non-toxicity and low ecological footprints are the two of the major benefits of biostimulants. In a world that is seeing a speedy increase in population and reducing farmlands, it has become extraordinarily necessary to tug out all stops to extend agricultural produce to feed the billions of mouths. To do so, so far farmers have banked upon chemical pesticides besides fertilizers. However, those also have a negative impact on the atmosphere and eventually cause health hazards to humans also. This has led to a switch to biostimulants from artificial stimulants.

The factors that are driving a rapid growth within the biostimulants business are enlargement of the organic food business, which is growing at a healthy rate, higher advantages related to increased agricultural yield and productivity. The foremost constraints that are inhibiting the expansion of the biostimulants trade embrace lower awareness rate among the farmers in developing countries and high R&D value concerned.

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Based on geography, Europe market is examined under various regions namely the U.K., Germany, France, Spain and Italy. Formation of the European Biostimulants Industry Council in Europe has significantly affected the biostimulants market in the region.

The top companies in the current market include Agrinos, Biolchim S.p.A., Valagro, Syngenta, Novozyme, Kelpgrow, Agriculture Solutions Inc., Premier Tech Ltd., Agricen, Koppert Biological Systems, and Italpollina spa.

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