The major key players in the life science instrument market include Agilent Technologies, Becton Dickinson, & Company, Bio-Rad Laboratories, Bruker, Danaher, F. Hoffmann-La Roche, Illumina, Shimadzu, Thermo Fisher Scientific, Valagro, and Waters.
The seaweed extracts segment is expected to witness a high growth during the forecast period, due to growing demand from the North American and European countries. The seaweed extract segment provides various benefits such as attractive seed germination, benefits in terms of superior soil quality, and increases root strength.
Soil treatment application is projected to generate significant revenue by 2025. This segment plays an important role in improving the soil content by correcting the biological, physical, and nutritional outline of the soil. This further helps for the efficient growth of a plant, balancing pH value of the soil, reducing compaction, and preserving the moisture growth. Hence, due to the aforementioned reasons, industries have started adopting this application.
The Asia-Pacific region is projected to comprise the highest growth rate during the forecast period. This is due to the rise in research studies on crops, pressure from the regional government for sustainable farming, availability of products at cheaper costs, support from government in the form of subsidies from countries like India, and rise in organic farming in the developing countries of China, India, and Singapore.
The biostimulants market is expected to witness the growth opportunities from emerging countries such as Brazil, South Korea, Turkey, Hungary, and others, during the forecast period. This is caused by the growing demand for extra-based product, chemical free fruits & vegetables, and government support for the development of organic farming.
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Europe held the largest market share in 2017 and is projected to continue with its position till 2025. The market is driven by the European Union’s strict regulations on environmental safety, growing government support for the development of organic farming, and increasing preference for the chemical free fruits & vegetables.
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The biostimulants market is estimated to be valued about USD 2.18 billion in 2018, and is expected to grow at a CAGR of 11.43% from 2018 to 2025. The major key factors driving the growth of this market are increasing demand for consumption of organic food, expansion of the organic food industry, growing biotech sector, growing support from the government for the development of organic farming, and rising food safety concern.