The plant biostimulant is a $1.5Billion market with opportunities to grow to $5Billion. At the conference, many presenters talked that the plant biostimulant market is growing, but seaweed liquid fertilizer will need to move to broad agriculture from its existing organic and niche markets.
The 2nd biostimulant conference 2019 was held at Harrahs Atlantic City in late June 2019. Many discussed that the Plant Biostimulant market size was increasing and they all had different points of view and why they were bullish about the increase.
Plant biostimulant = liquid fertilizer
Biostimulant have proven their worth with years of R&D support and clear results in-field. With strategic intricacies unique to the biological origin of these products, the conference organised by Meister Media focused on on doing business and bridging the gap between the science and commercialization.
With the segment projected to reach $2.9 billion by 2021, growing at 15% per year, biostimulants are now recognised as a means to not only increase yields, quality of product but reduction in use of artificial fertilizers and pesticides.
The opportunity is best shown by a slide from Luca Bonini, President of the European Biostimulant Industry Council (EBIC) and also the CEO of Italpollina
The image shows that there is a gap between the actual yield that farmers achieve, the potential that could be achieved and the theoretical yield.
Yield increases are typical in bananas, pineapples, and other crops