Biostimulants Market size is expected to grow at a CAGR of 10.65% through 2021 to 2027, reaching nearly US$ 5.63 Bn.
According to the Stellar Market research report "Biostimulants Market with COVID-19 Impact Analysis by Active Ingredients, Mode of Application, Form, Crop Type, and Region- Global Forecast to 2027", the Biostimulants market size is expected to grow from USD 2.77 billion in 2020 to USD 5.63 billion in 2027; it is expected to grow at a CAGR of 10.65 % from 2021 to 2027.
View detailed Table of Content here - https://www.stellarmr.com/report/toc/Biostimulants-Market/417
Microbial inoculants, amino acids, humic acids, fulvic acids, and other active substances are all examples of biostimulants (which include polysaccharides, trace minerals, and vitamins). There is a growing desire for food that is produced responsibly, with fewer synthetic chemicals and a higher proportion of biologicals. As a result, biostimulants contribute to a long-term solution to this problem by providing stress resistance and encouraging plant development.
The increased production of organic foods and feed products without the use of good fertilizers, combined with the harmful impacts of synthetic fertilizers and pesticides, has prompted concerns about agriculture's long-term environmental safety and sustainability. Agricultural biologicals (which include biofertilizers, biopesticides, and biostimulants) have surpassed synthetic farming inputs in importance in recent years, owing to their rapid recognition as environmentally benign crop production inputs.
The prevalence of low-quality items is due to a lack of openness in patent protection legislation in many countries. Despite the fact that the biostimulants industry has low entry barriers and has allowed many new rivals to enter the market, the market has fragmented into smaller pockets of market holdings. This has played a role in regional or local manufacturers introducing low-quality items to the market in order to profit from the increased demand for biostimulants.
COVID-19 impact on the Biostimulants market:
During the COVID-19 epidemic, consumer consumption patterns demonstrated a responsible shift from non-organic to organic, which is still occurring now. A growing emphasis on preventative healthcare is gradually but steadily causing a shift in global traditional farming practices, with producers being urged to produce more utilizing environmentally friendly methods and resources. As a result, the global market for biostimulants is booming. The epidemic has accelerated the shift from global to more local economies in the manufacturing sector. Industries are aiming to relocate supply chains closer to home as part of this change, which is offering significant "reshoring" prospects. In the midst of this, biostimulant raw material manufacturers experienced supply shortages and trouble maintaining operational continuity.
Biostimulants Regional Insights:
The expanding relevance of a sustainable agriculture strategy, as well as the increased development of new novel solutions that target specific agronomic needs, are driving the Europe biostimulants market. The key drivers of increased biostimulants usage in the region are Spain, Italy, and France. These countries are also big biostimulants suppliers to international markets. Moreover, the region's inadequate regulatory environment for this sector has resulted in the emergence of a slew of biostimulants businesses.
Biostimulants Market Key Players:
- BASF SE (Germany)
- UPL (India)
- Valagro S.p.A (Italy)
- Gowan Group (US)
- FMC Corporation (US)
- ILSA S.p.A (Italy)
- Rallis India Limited (India)
- Haifa Group (Israel)
- Adama Ltd. (Israel)
- Biovert S.L (Spain)
- C-Combinator (US)
- AlgaEnergy (Spain)
- NovoZymes (Denmark)
- Plant Impact (UK)
- Acadian Seaplants (Canada)
- Verdesian Life Sciences (US)
Biostimulants Market Segmentation:
Market segmentation makes it effortless for marketers to create campaigns by allowing them to focus on certain client groups rather than the whole public. Segmenting data allows marketers to be more efficient in terms of time, money, and other resources. Clients can use market segmentation to better understand their customers. Client gains a better insight into their consumers' needs and desires, allowing them to tailor campaigns to the customer segments most likely to purchase products.
By Active Ingredients
- Humic substances
- Humic acid
- Fulvic acid
- Seaweed extracts
- Microbial amendments
- Amino acids
- Other active ingredients
By Mode of Application
- Soil Treatment
- Seed treatment
By Crop Type
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Turfs & ornamentals
- North America
- Asia Pacific
- South America
About Stellar Market Research:
Stellar Market Research, an India-based consulting and advisory company, was founded in 2018 with the goal of helping clients reach their business transformation goals through consulting services and strategic business planning. As a strategic knowledge partner, the company's goal is to be an integral part of the customer's business. The firm make recommendations to help shape future organizations. Since its establishment in November 2018, the company has been fully funded by revenue. To date, the company has worked with more than 335 companies in 25 industries to provide reliable data with 94% accuracy.
Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud,
Pune, Pune, Maharashtra, 411029