- The key vendors in the global biostimulants market 2015-2019 are Agrinos AS, Arysta LifeScience Corp., Biostadt India Ltd., Koppert BV, and Valagro SpA
London, 20 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global biostimulants market 2015-2019. The growing popularity of biostimulants as pesticides is a key trend observed in this market. Biostimulants ensure that the crops take in adequate nutrients and also aid in controlling pests and diseases. These biostimulants are used in land stretches where organic farming is practiced and, therefore, are non-detrimental to the environment. This market is expected to grow at a CAGR of 13.12% during the forecast period of 2014-2019.
The increasing cost of fertilizers coupled with the growing demand for food products is a critical factor that augments the prospects of growth in this market. To cope with this increasing demand for food products, farmers use biostimulants obtained from organic raw material such as brown seaweeds. These biostimulants are cheaper and are a cost-effective way to stimulate plant growth, support nitrogen metabolism, and help in the early development of crops.
“Precision farming is a site-specific crop management concept that helps farmers to optimize results from inputs. The aim of precision farming is to manage, measure, and respond to field variability in crops by using data analysis. It helps in the judicious use of biostimulants while minimizing the use of chemical fertilizers,” says Faisal Ghaus, Vice President of Technavio Research.
“It ensures sustainable production of crops with minimum wastage and harm to the environment. Precision farming is heavily practiced in North America and Latin America, especially in the US, Canada, and Brazil.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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