News from Abroad GROWTH FORECAST
‘Global biostimulants market set to double in six years’ The challenge of feeding the world’s growing population from the limited resources of production, including arable land and freshwater, is creating opportunities for the global biostimulants market. As a result, the market is estimated to double, increasing at a compound annual growth rate of 12.1%, garnering revenue of $5-bn by 2025, compared to $2.52-bn in 2019, according to a new analysis by consulting firm, Frost & Sullivan. “Dire needs for an efficient fertiliser to increase crop yield and combat abiotic stress among plants are driving farmers of the world to opt for alternatives, increasing the consumption of biostimulants,” said a Frost & Sullivan analyst. “Further, consumer demand for organic products is increasing the need for organic agriculture, resulting
in products based on seaweed and plant extracts, and combinations of both with acid-based biostimulants or trace minerals, to gain traction.” By 2025, Europe is estimated to generate the highest revenue in the global biostimulants market at nearly 41%, followed by Asia-Pacific (APAC) and North America and Latin America (NA & LATAM), standing at 28.3% and 23.7%, respectively. As for the percent of unit shipment, APAC will lead, followed by Europe, NA & LATAM, and the Middle East and Africa (MEA). According to the analysis, increasing global population, manufacturers’ focus on sustainable products, consumers’ rising preference for organic products, and farmers’ demand for higher crop yield and cost-effective solutions are present-
ing immense growth opportunities for market participants in the biostimulants space. Opportunities include: Creating partnerships or collaborations between manufacturers and companies that offer solutions providing high yield and optimal plant nutrient storage. Partnering or collaborating with companies for product formulation, development, commercialisation, marketing, and distribution to expand regionally and build a stronger portfolio. Developing solutions that increase photosynthetic and vegetative activities, and promote root growth, ripening, and flowering. Introducing more efficient and effective application strategies to attain maximum crop yield and help withstand adverse stress and drought conditions.
RECOGNISING EXCELLENCE
2020 CPhI Pharma Awards are open for entries Entries are being invited for the ‘17th Annual CPhI Pharma Awards’ to recognise the accomplishments of those driving the pharma and biotech industries forward through their innovations, technologies, and strategies. Held as part of the Informa Markets-organised trade fair, CPhI Worldwide, the ‘CPhI Pharma Awards’ span 14 categories and recognise the individuals and companies committed to breaking new ground through their singular accomplishments. “Each year we look forward to hosting these awards and to recognising the exciting, innovative and life-changing work that is being carried out across the pharmaceutical industry,” said 112
Ms. Tara Dougal, Senior Content Producer, Informa Markets. Entries are open to pharmaceutical and biopharmaceutical companies engaged in the design, development, manufacturing, production, and distribution of large and small molecule drug products. Categories
echo the event’s commitment to honouring “Excellence in Pharma” and include a wide range of industry activities, including Bioprocessing & Manufacturing, Supply Chain, Logistics & Distribution, Digital Innovation, and Sustainability. Chemical Weekly April 28, 2020