Humic-based Biostimulants Market to Witness Unprecedented Growth in Coming Years

Northbrook, USA, 2020-Oct-28 — /EPR Network/ — 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.

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). Product launches, acquisitions, agreements, collaborations, and partnerships were some of the core strengths of the leading players in the humic-based biostimulants market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. 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).

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Bayer AG (Germany) is operating through four business segments, which are pharmaceuticals, consumer health, animal health, and CropScience. The company is involved in the production of a wide range of products under the CropScience division. It acquired Monsanto (US) in 2018, in amalgamation with Novozymes A/S (Denmark), formed the BioAg Alliance to develop microbial solutions to increase crop yield and enhance sustainability in farming solutions. The company has its presence in North America, South America, Europe, Asia, Africa, and Australia.  Bayer AG carried out acquisitions of companies, such as Monsanto (US), to enhance nature-powered innovation for developing more innovative and sustainable products for the future.

FMC Corporation is one of the largest agrochemical companies, focusing on crop protection and plant health. The plant health business segment represents a diverse group of plant protection products derived from microorganisms and other naturally occurring materials, which has grown significantly over the years. The company’s European Innovation Centre focuses on producing new bioinsecticides, bionematicides, biofungicides, and biostimulants. Thus, the biological products offered by the company feature new modes of action and sustainability profiles. The company also opened a pilot fermentation facility in July 2019 at the FMC European Innovation Centre in Denmark to support its Plant Health business in developing natural biological product solutions. FMC focuses on delivering differentiated products with performance that stands out from the competition, such as longer shelf life, high stability, low-use rates, and compatibility with other chemistries.

The increasing demand for sustainable solutions in the Asia Pacific regions drives the growth of the humic-based biostimulants market.

The agriculture industry in Asia, particularly in the Southeast Asian countries, witness effective transformation due to various technological advancements. The increase in agricultural practices and demand for agricultural produce which can meet the international standards are the factors that are projected to drive the humic-based biostimulants market in this region. It has produced high-quality biostimulants and has patented various new bioactive molecules. Asian countries, such as China, Japan, southeast countries are shifting toawards sustainable agriculture. Hence, the demand for Humic-based biostimulants is high in the region.

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Key Market Players:

Key players in this 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). These major players in this market focus on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities, along with strong distribution networks across these regions.

Recent Developments:

• In July 2019, Koppert acquired Nitrasoil (Argentina) and its industrial unit in Argentina. With this, Koppert intended to expand the range of its products and cater to the southern US.
• In July 2019, Valagro announced a research collaboration with Marrone Bio Innovations (US) to leverage their assets to develop plants that can thrive under harsh conditions, grow with more vigor, and have better root systems.
• In October 2019, Humintech has expanded its production capacity and moved to a new production plant to produce new Humic acid granulate.