Press Release

The Biostimulants Market Is Estimated To Record a CAGR of Around 10.10% During The Forecast Period

Evolve Business Intelligence has published a research report on the Global Biostimulants Market, 2023–2032. The global Biostimulants Market is projected to exhibit a CAGR of around 10.10%during the forecast period of 2023 to 2032.

Evolve Business Intelligence has recognized the following companies as the key players in the global Biostimulants Market: BASF SE, Isagro Group, Sapec Agro S.A., Tradecorp, Biolchim SpA, Novozymes A/S, Platform Specialty Products Corp., Mosiac Company, Valagro SpA, Koppert B.V.Italpollina SAP and Biostadt India Ltd.

Market Highlights

The Global Biostimulants Market is projected to be valued at USD 5.94 Billion by 2032, recording a CAGR of around 10.10% during the forecast period. Biostimulants Market refers to the commercial sector and industry involved in the production, distribution, and sales of biostimulants. Biostimulants are substances or microorganisms that, when applied to plants or soil, promote growth, improve nutrient uptake, enhance stress tolerance, and overall plant health. These products are distinct from fertilizers, pesticides, and herbicides, as they do not provide direct nutrition or have any direct action against pests or diseases.

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The market for biostimulants has been growing rapidly in recent years, driven by an increasing global population, rising demand for food production, and a shift towards sustainable and environmentally friendly agricultural practices.

COVID-19 pandemic had a mixed impact on the biostimulants market. The extent of the impact varied depending on factors such as the region, type of biostimulants, and the specific agricultural sectors involved. The pandemic caused disruptions in global supply chains, affecting the production and distribution of biostimulants. Restrictions on movement and trade caused delays in the transportation of raw materials and finished products, leading to potential shortages in some regions.

The pandemic raised awareness of the importance of food security and sustainable agriculture. As a result, there was a growing interest in biostimulants and other sustainable agricultural practices to improve crop resilience and yield.

 Segmental Analysis

The global Biostimulants Market has been segmented based on Crop type and Application.

Based on Crop Type, the Biostimulants Market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and Turfs & Ornamentals. Cereals and grains crop types are expected to hold the largest market share in the biostimulant market due to their high production volume, extensive cultivation, and the need for enhanced crop productivity and quality.

Based on Application, the global Biostimulants Market has been divided into Foliar Treatment, Soil Treatment and Seed Treatment. The foliar treatment category is expected to hold the largest market share in the biostimulant market due to its direct and efficient delivery of biostimulants to plants, allowing for rapid absorption and utilization of nutrients, promoting faster growth, and providing targeted treatment for foliar-related issues such as nutrient deficiencies, stress, and diseases.

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Regional Analysis

The Biostimulants Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. The biostimulants market in North America, including the United States and Canada, was one of the largest and most mature markets. The region has been witnessing significant growth in the adoption of biostimulants due to increasing awareness of sustainable agriculture practices and the demand for organic and natural products.Europe was another major market for biostimulants, with countries like Spain, Italy, France, and Germany being prominent players. The European Union’s regulations promoting sustainable agriculture and environmental protection have been driving the adoption of biostimulants in the region.The Asia-Pacific region, including countries like China, India, and Australia, experienced rapid growth in the biostimulants market. Factors contributing to this growth include a large agricultural sector, rising population, and an increasing emphasis on sustainable farming practices. Countries in Latin America, such as Brazil and Argentina, showed considerable potential for biostimulant adoption. The region’s vast agricultural lands and increasing awareness of biostimulants’ benefits supported market growth.

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