Chicago, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Biostimulants are substances or microorganisms applied to plants, seeds, or the surrounding soil to enhance the plant's growth, development, and overall health. Unlike traditional fertilizers, which primarily provide essential nutrients, biostimulants work by promoting physiological processes in plants, improving nutrient uptake, and increasing tolerance to environmental stress.
What is the market for biostimulants?
The global biostimulants market is estimated at USD 3.9 billion in 2023 and is projected to reach USD 6.8 billion by 2028, at a CAGR of 11.8% during the forecast period. The global biostimulants market has witnessed remarkable growth in recent years, driven by increasing awareness of sustainable agricultural practices and the need for enhanced crop productivity.
Biostimulants Market Scope:
| Report Metric | Details |
| Market Valuation in 2023 | US $3.9 billion |
| Revenue Forecast in 2028 | US $6.8 billion |
| Progress Rate | CAGR of 11.8% |
| Forecast Period | 2023-2028 |
| Market Drivers |
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| Market Opportunities | ·Technological advancements in the production of biostimulants |
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Who are the Top Biostimulants Manufacturers?
List of Top Companies Operating in the Biostimulants Industry Worldwide:
- BASF SE (Germany)
- UPL (India)
- Valero (Italy)
- Gowan Group (US)
- FMC Corporation (US)
- ILSA S.p.A (Italy)
- Rallis India Limited (India)
- Haifa Group (Israel)
What are the Segments of the Biostimulant Market?
Biostimulants Market by Crop Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Flowers & Ornamentals
- Others Crop types
Biostimulants Market by Active Ingredients
- Humic substances
- Seaweed extracts
- Amino acids
- Microbial amendments
- Other active ingredients
Biostimulants Market by Mode of Application
- Foliar treatment
- Soil Treatment
- Seed Treatment
Biostimulants Market by Form
- Dry
- Liquid
Biostimulants Market by Region
- North America
- Europe
- Asia Pacific
- South America
- Rest of the World (RoW)
What are Biostimulants Products Used for?
Biostimulants products are used in agriculture to enhance plant growth, development, and overall productivity. These products contain substances or microorganisms that, when applied to plants or soil, elicit positive physiological responses in the crops. The primary purposes of biostimulants include:
- Improved Nutrient Uptake: Biostimulants can enhance the absorption of nutrients by plant roots, making essential elements such as nitrogen, phosphorus, and potassium more readily available to the plants.
- Stress Tolerance: Biostimulants help plants cope with various environmental stresses, including drought, salinity, and extreme temperatures. They may improve the plant's resilience and ability to withstand adverse conditions.
- Root Development: These products often promote the growth and development of root systems, leading to increased nutrient and water absorption. Enhanced root development can contribute to overall plant vigor.
- Crop Quality: Biostimulants may enhance the quality of crops by improving traits such as color, flavor, and nutritional content. This can be particularly important for fruits, vegetables, and other agricultural products.
- Seed Germination: Some biostimulants are designed to stimulate seed germination and early seedling development, ensuring a robust start for the plants.
- Soil Health: Biostimulants can contribute to the improvement of soil structure and microbial activity. Healthy soils support better nutrient cycling and create a more favorable environment for plant growth.
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Which Region is Witnessing the Highest Growth Rate in the Biostimulants Market?
The region's agricultural landscape is characterized by a strong commitment to environmental stewardship, with farmers increasingly seeking innovative solutions to enhance productivity without compromising long-term sustainability. The European Union's endorsement of bio-based products, coupled with supportive regulatory frameworks, has provided a conducive environment for the widespread adoption of biostimulants across various crops. Biostimulants, which encompass a diverse range of substances fostering plant growth, have garnered increasing attention as key contributors to optimizing crop yields while minimizing ecological impact. The European market for biostimulants is experiencing robust growth, driven by stringent regulations promoting sustainable farming practices and the increasing preference for organic produce.
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