Market Analysis and Insights: Global Seaweed Extracts Biostimulant Market
Seaweed extracts biostimulant market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 12.6% in the forecast period of 2020 to 2027 and expected to reach USD 1,808.78 million by 2027 from USD 709.50 million in 2019. Rising demand of organic food is expected to drive the growth of the market
Seaweeds are the plants which have been grown in the sea. Seaweeds are also known as marine microalgae generally attached to hard substrata of coastal areas. These plants comprises of various marine algae such as kelps, dulses, rockweeds and sea lettuce. Seaweed extracts is an organic fertilizer containing vitamins, fatty acids, macro and micro nutrient.
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Global Seaweed Extracts Biostimulant Market Scope and Market Size
Global seaweed extracts biostimulant market is segmented on the basis of species, crop type, application method, form, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on species, the seaweed extracts biostimulant market is segmented into brown algae, red algae and green algae. The brown algae is dominating the segment as these algae are most commonly used algae for the agriculture purpose as it works as the best fertilizer for the plants and helps to obtaining more yields through organic farming.
- Based on crop type, the market is segmented into fruits & vegetables, cereals & grains, turf & ornamentals, oilseeds & pulses, and other crops. Fruits and vegetables segment is dominating the market due to its high production globally. In addition to this growing demand of horticulture across the globe is enhances the production of fruits and vegetables.
- Based on application method, the market is segmented into foliar treatment, soil treatment, and seed treatment. Foliar treatment segment is dominating the segment as the application of seaweed extracts biostimulant through foliar treatment helps the crops to easily absorb by the nutrients and micronutrients. Thus, farmers also prefer foliar application method for application of seaweed extracts biostimulant to increase productivity.
- Based on form, the market is segmented into liquid and dry. Liquid segment is dominating the global seaweed extracts biostimulant market as the liquid form of seaweed extracts biostimulant can be easily absorbed by soil, which provides better stimulation to roots development.
- Based on end user, the market is segmented into farmers, related industries, research institutes and others. Farmers segment is dominating the seaweed extracts biostimulant market as it is highly used in farm by the farmers in order to increase yield and growth of the crops for fulfilling the growing demand of food in market.
- Based on distribution channel, the market is segmented into direct and indirect. Direct segment is dominating the market because large scale farming as well as related industries needs high amount of stimulating products for high productivity of agricultural products so they directly contact with biostimulant manufacturing companies and hence it is growing with large share.
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Seaweed Extracts Biostimulant Market Country Level Analysis
Seaweed extracts biostimulant market is analysed and market size information is provided by country, species, crop type, application method, form, end user and distribution channel as referenced above.
The countries covered in global seaweed extracts biostimulant market report are U.S., Canada, Mexico, France, Italy, Spain, Germany, U.K., Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, India, Australia, Japan, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines and Rest of Asia-Pacific, South Africa, Egypt, Saudi Arabia, Israel, UAE, Rest of Middle East and Africa.
In North America, the U.S. is dominating due to the rising agricultural activities to produce high productivity leading to the demand for biostimulant products. In Asia-Pacific, China is growing as most of the food and beverage manufacturers are inclining towards utilization of seaweed extract biostimulant to boost their production naturally in the region whereas in Europe, France is dominating the market as the people are shifting towards chemical free fertilizers due to their health concerns which has increased the adoption of seaweed extracts biostimulant in France.
The country section of seaweed extracts biostimulant market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
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