Biostimulants Market Trends

Drivers

Rise of Organic Farming

• Organic farming has emerged in popularity across the world, and this is mostly due to rising awareness regarding the ill-effects of chemical use in agriculture. Increasing health consciousness and rising emphasis on adoption of sustainable agricultural practices are also contributing to the popularity of organic farming and thereby promoting sales of biostimulants.

Surge in Global Food Demand

• The global population is expanding at a rapid pace and keeping up the rising food demand is getting difficult for farmers around the world. The use of biostimulants allows farmers to enhance their productivity and improve agricultural yield as well, thereby allowing them to satisfy the rapidly increasing food demand.

Restraints

Limited Scientific Evidence for Biostimulants

• While biostimulants have been proven to help promote plant growth the same is not backed by long-term scientific data and inconsistent results across different climates and soil conditions. This lack of scientific evidence introduces market skepticism and slows down the overall biostimulants market outlook especially in developing countries where farmers are quite bia towards traditional practices.

Lack of Awareness

• Biostimulants are relatively new in the field of agriculture, which is why not many farmers are aware of their usage benefits and this lack of awareness is projected to impede bio stimulant demand outlook going forward. This factor is estimated to hinder bio stimulant sales in developing and under-developed countries as awareness among farmers regarding new products is quite limited.