How Global Biostimulants Market Players Should Strategize For 2022-2031
17 Oct, 2022
The global biostimulants market size is expected to grow from $2.58 billion in 2021 to $2.85 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global biostimulants market size is expected to grow to $4.33 billion in 2026 at a CAGR of 11.1%.
What is the Global Biostimulants Market?
The biostimulants market consists of the sale of biostimulants and related services. Biostimulants are substances or microorganisms which enhance plant growth when applied in small amounts by increasing the nutrient absorbency rate of plants without any adverse effect on the plants. It helps the plant to tolerate abiotic stress and also increases crop productivity.
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What drives the Global Biostimulants Market?
The growth of sustainable agriculture is expected to drive the growth of the biostimulant market. There is an increased focus on sustainable agriculture due to deteriorating factors such as soil degradation, water scarcity, climate change, and also the burden to produce high crop yields to meet the demand. In sustainable agriculture, the use of artificial products like fertilizers and pesticides is prohibited since it degrades soil and harms the environment. Biostimulants on the other side increase the simulation power of the plants to absorb nutrients and help in handling the abiotic stress. The United Nations' sustainable development goals for 2030 have a special focus on sustainable agriculture. The use of biostimulants to grow crops free of pesticides and fertilizers also help in growing crops under unusual conditions. According to the study on biostimulants and their role in improving plant growth under abiotic stresses published in November 2019, a biostimulant CROP+, when incorporated into tomato plants in water stress conditions through foliar, caused increased indices in tomato plant due to the antioxidants. The use of biostimulants helps grow various crops under stress conditions, supporting sustainable agriculture, and thereby driving the biostimulants market.
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Global Biostimulants Market Segments
The global biostimulants market is segmented:
By Chemical Origin: Natural, Biosynthetic Biostimulants
By Active Ingredient: Humic Acid, Fulvic Acid, Amino Acids, Protein Hydrolysates, Seaweed Extracts, Other Active Ingredients
By Application: Foliar, Soil, Seed, Other Applications
By Geography: The regions covered in the biostimulants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Biostimulants Global Market Report 2022provides market size and growth forecasts for the global biostimulants market, global biostimulants market share, biostimulants global market segments and geographies, biostimulants global market competitive landscape including leading competitors’ revenues, profiles and market shares. The biostimulants global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Biostimulants Industry Playersinclude BASF, Bayer CropScience, Novozymes A/S, Koppert Biological Systems, Verdesian Life Sciences, Lallemand Plant Care, Valagro, Syngenta, West Coast Marine Bio-Processing Corp, and Italpollina S.p.A. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.