Chicago, Nov. 11, 2022 (GLOBE NEWSWIRE) -- According to a report published by MarketsandMarkets™, the "Biostimulants Market by Active Ingredient (Humic Substances, Amino Acids, Seaweed Extracts, Microbial Amendments), Crop Type (Fruits & Vegetables, Cereals, Turf & Ornamentals), Application Method, Form and Region - Global Forecast to 2026", the global market for biostimulants is estimated at USD 3.2 billion in 2021. It is projected to reach USD 5.6 billion by 2026, recording a CAGR of 12.1% during the forecast period.
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Browse in-depth TOC on "Biostimulants Market"
367 – Tables
70 – Figures
337 – Pages
| Report Coverage | Details |
| Market Size | USD 18.6 billion by 2027 |
| CAGR | 10.8% |
| Historical Data | 2019-2027 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product & Service, By Technology, By Toxicity Endpoint & Test, By Industry, By Method, and By Region |
| Geographies Covered | North America, Europe, APAC, Latin America, and the Middle East & Africa |
| Key Companies Profiled/Vendors | Thermo Fisher Scientific, Inc. (US), Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), Bio-Rad Laboratories, Inc. (US), General Electric Company (US), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Evotec (UK), SGS S.A. (Switzerland), BioRad Laboratories, QIAGEN (Germany), Promega Corporation (US), Gentronix Limited (UK), BioIVT (US), MB Research Laboratories (US), Creative Biolabs(US), GVK Biosciences Private Limited (India), Shanghai Medicon Inc (China), Creative Biorray (US) and Insphero (Switzerland). |
The Seaweed extract segment by active ingredient is projected to achieve the highest CAGR growth in the Biostimulants market.
Regardless of the amount of nutrients present, seaweed extracts (SE) are frequently employed as plant biostimulants, which are defined as "any substance or microbe applied to plants with the purpose of enhancing nutrition efficiency, abiotic stress tolerance and/or crop quality attributes." SE can be sprayed as a foliar application on plants and/or on the soil. They have beneficial impacts on soil remediation, retention, and microbiota. They may also be a source of nutrients and have hormonal effects.
The Liquid segment is projected to account for the highest market share in the Biostimulants market over the forecast period.
The market for the liquid form of biostimulants is expected to dominate the global biostimulants market. This is due to various factors, such as ease of application, application to larger areas in a shorter period, and easy combinations with biopesticides and biofertilizers for dual benefits to crops. Biostimulants in the liquid form are usually used in Foliar, which is one of the most used methods used for the application of biostimulants. The demand for liquid biostimulants has been increasing with the growing awareness about the benefits of their application.
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Asia Pacific is projected to achieve the highest market share in the Biostimulants market.
Asia Pacific achieves the highest market share because of the presence of several manufacturing companies and the quick expansion of economies centered on agriculture, such India and China. Market expansion will be driven by the rising product use brought on by population growth, soil erosion, growing farmer awareness, strict government regulations & encouragement for the use of biostimulants, and the demand for more sustainable solutions to improve products.
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Key Market Players
The key players in this market include 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-Manvert (Spain), Koppert Biological Systems (Netherlands), Rovensa (Spain), and AgriTecno (Spain). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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