Humic-based Biostimulants Market Dynamics: Drivers, Restraints, Opportunities and Challenges

The global humic-based biostimulants market is estimated to be valued at USD 515 million in 2020 and projected to reach USD 848 million, with a CAGR of 10.5% between 2020 and 2025. The growth of the humic-based biostimulants industry is driven by various factors, such as the enhancement in the crop productivity with improvement in the quality and quantity of the crops, demand for sustainable solutions to preserve the biodiversity and to achieve the export standards of the crop produce.

Download PDF Brochure

Driver:  Demand for the adoption of sustainable solutions

To meet the increasing demand for food from over 9 billion people by 2050, there is an immense pressure exerted to produce crops with high-quality yield. Humic-based biostimulants can sustainably address this issue, by providing protection against stress and thereby stimulating the growth of the plant. The market for biostimulants is projected to grow in the coming years due to the increasing consumer awareness about the benefits of organic foods, implementation of organic regulations, and adoption of GLOBALGAP (Global Good Agricultural Practices) policies. Humic-based biostimulants can play an essential role in improving the physicochemical, chemical, and biological properties of the soil.


Restraints: Local players lack the authenticity of biostimulant products

Lack of transparency in patent protection laws in various countries has led to the prevalence of low-quality products. The regulatory framework for biostimulants, being unclear across many regulatory bodies globally, had allowed the entry of these duplicate products. Even though the humic-based biostimulants market has limited barriers for entry and has allowed many competitors to commence operations, the nature of the market has become fragmented into smaller pockets of market holdings.

Opportunities: Technological advancements for biostimulant production

Technological innovation in the biostimulant sector creates the opportunity for manufacturers to develop new products in the biostimulant and plant growth promotor segments. Initially, biostimulants were only used for vegetables and fruit crops, along with other high-value crops such as ornamentals and plantation crops. Now, they also play an importunate role in traditional food crops such as corn, wheat, and rice, by being used as an added compliment to fertilizers to catalyze the nutrient uptake process of the crops. One of the other latest technologies also includes the production of humic-based biostimulants chelated with NPK and biostimulant resistant to hard water, which will gain more traction in the future.

Challenges: Uncertainty in the regulatory framework of biostimulants

Humic-based biostimulants have not yet been governed under any standard categorization across the globe. Currently, biostimulants are not classified as a specific category with a consistent global definition. For instance, they are considered as additives in France, whereas in Germany, they are marketed as plant strengtheners or growth enhancers. To consolidate the regulatory framework with respect to biostimulants in Europe, the European Biostimulants Industry Consortium (EBIC) drafted a directive based on the views and suggestions of manufacturers and research institutes and tabulated it for EU approval.  The data requirements and parameter range also vary according to each country in the EU.


Key players in the humic-based biostimulants market include Bayer AG (Germany), FMC Corporation (US), UPL Ltd(India), Borregaard (Norway), Koppert Biological Systems (Netherlands), Valagro SpA (Italy), Biolchim SpA (Italy), and Humic Growth Solutions (Florida). 

Some of the other leading players in the humic-based biostimulants market include Haifa Group (Israel), Sikko International Ltd (India), Novihum Technologies GMBH ( Germany), Humintech GMBH (Germany), Qingdao Future Group (China), Promisol (Spain), Bioline (Canada), Actagro (US), Rovensa (Portugal), Tagrow (China), CIFO (Italy) and Loveland (US).


Comments

Post a Comment

Popular posts from this blog

Global Bottled Water Processing Market: Key Trends and Insights by 2028

A recent research report by MarketsandMarkets titled " Bottled Water Processing Market " provides valuable insights into the dynamics of the bottled water industry. The study covers both the bottled water market and the bottled water equipment market, forecasting significant growth in both segments. Here are key highlights from the report: Download PDF Brochure Bottled Water Market Overview: The bottled water market is projected to reach USD 457.1 billion by 2028, exhibiting a CAGR of 8.0% from 2023. This growth is attributed to the rising demand in emerging markets where limited access to safe drinking water is a challenge. The global population increase also contributes to the surge in demand for clean and safe drinking water, emphasizing the pivotal role of bottled water processing in providing accessible hydration solutions. Product Type Insights: The report highlights that still water dominates the market, accounting for the largest share in 2022 in terms of value. This ...
Read more

Growth Trends and Opportunities in the Global Edible Oils Market

The global edible oils industry is on track to reach USD 268.9 billion by 2027, marking a significant increase from USD 212.6 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.8% between 2022 and 2027. This growth is primarily fueled by the rising global population, coupled with shifts in lifestyle preferences towards processed foods, where edible oils play a crucial role as primary ingredients. Furthermore, ongoing advancements in food processing, including the development of novel products such as confectionery, bakery items, ready-to-eat foods, and fast foods, are driving substantial demand for edible oils. Download PDF Brochure      Soybean oils emerge as the fastest-growing segment in the global edible oils market , anticipated to experience a robust CAGR of 5.4% during the forecast period. With concerns regarding food costs and climate change's impact on food supplies, soy products, particularly soybean oil, are gaining traction. Soybean oil...
Read more

Beer Processing Market Analysis and Global Forecast to 2025

Image
The global beer processing market studied in this report involves the market coverage of brewery equipment and beer. The global beer processing market is estimated to account for about USD 677.5 billion in 2019 and is projected to reach a value of USD 815.4 billion by 2025, growing at a CAGR of 3.1%. The changing consumer preferences for artisanal and craft beer, instead of traditional beer or other alcoholic beverages, drive the market for beer, globally. Download PDF Brochure The brewery equipment market has been growing in tandem      with the rising demand and consumption of beer. The other factor responsible for driving the global brewery equipment market is the growing number of microbreweries as well as brewpubs.  The European region is projected to account for the largest market share in the brewery equipment market due to the ever increasing beer industry and the presence of leading beer manufacturers. In the beer market, Asia Pacific dominated the global ...
Read more