HOME › Research Insight › Key Strategies Such as New Product Developments, Expansions, and Investments Have Been Adopted by the Key Players in the Biostimulants Industry
Key Strategies Such as New Product Developments, Expansions, and Investments Have Been Adopted by the Key Players in the Biostimulants Industry
Key players in the biostimulants market include BASF SE (Germany), Novozymes A/S (Denmark), Isagro SpA (Italy), Platform Specialty Products Company (U.S.), Valagro SpA (Italy), and Biolchim SpA (Italy). However, these players have been dominant especially in their regional markets and are looking forward for distributional partnerships with manufacturers and dealers in overseas markets.
Key strategies such as new product developments, expansions, and investments have been adopted by the key players in the biostimulants industry. The core strength of the companies has been mostly dependent on their product portfolio and market coverage due to the competition from a larger number of manufacturers in each region considered in the study. These players are not only concentrating on product formulations but also in developing new process systems and extraction technologies. European regional players have been investing in R&D capabilities to enhance their seaweed extraction process to isolate the necessary phyto-ingredients for stimulating plant growth.
To build their competencies, the players are required to diversify their business operations across the high-growth markets with effective distribution networks. Among the key players, Valagro SpA (Italy) has been active in adopting these strategies in the developing regions of Asia-Pacific and Latin America. In the first quarter of 2016, Valagro has made considerable progress in establishing its business units in India and China by acquiring Sri Biotech Laboratories India (Limited) and opening its Chinese subsidiary, respectively.
Launching new product formulations for broad-acre crops is also witnessed as an effective way to achieve growth in the biostimulants market. In 2015, Biolchim SpA (Italy) has been keen to broaden its product portfolio across regions by frequent registration and launch of biostimulant products.
Few leading players such as Biolchim SpA, Valagro SpA, and Koppert B.V. (the Netherlands) have also been involved in acquiring companies to strengthen their back-end operations in order to efficiently streamline their raw material supplies, expand their geographical presence, or enhance their existing technologies. However, acquisitions are observed as the last option among the players but with increasing competition in the last decade, many acquisitions are projected to surface in the next 3–4 years.
Biostimulants Market by Active Ingredient (Humic acids, Fulvic Acids, Seaweed, Microbials, Trace Minerals, Vitamins, and Amino acids), Application Method (Foliar, Soil, and Seed), Crop Type, & by Region - Global Trends & Forecasts to 2021
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