New York, USA, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Biostimulants Market Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR) 's report highlights “Biostimulants Market Information By Active Ingredients, Mode of Application, Crop and Region - Forecast till 2032"; the market will achieve USD 962.25 Billion in 2032 at a 12.05% CAGR.
Market Synopsis
Biostimulants, or fertilizers, nourish crops and promote plant growth and productivity. The chemical promotes plant growth and development from seed germination to plant maturity. These fertilizers raise soil fertility by encouraging the growth of interdependent soil microbes that aid in nutrient exchange, assimilation, and utilization. Organic foods are full of the nutrients people need and free of pollutants that are bad for their health. Due to their high nutritional content, low pesticide use, and high sustainability, organic fruits and vegetables have seen a substantial increase in demand in recent years.
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Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 962.25 Billion |
| CAGR | 12.05 % (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Active Ingredients, Mode of Application, Crop, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | High demand for High-Value crops and organic agriculture. |
Market Competitive Landscape:
- UPL Ltd (India)
- IsagroSpA (Italy)
- Valent Biosciences Corp (US)
- Eastman Chemical Company (US)
- Isagro (Italy)
- Bayer AG (Germany)
- Koppert (Netherlands)
- BASF SE (Germany)
- Syngenta (Switzerland)
- Valent Bioscience Corp (France)
Due to the increased adoption of organic farming in developing economies, which is therefore anticipated to increase the demand for the produce in the ensuing years, it is anticipated that organic farming will expand more rapidly than expected over the forecast period. Given the development prospects in these categories, the major market participants are concentrating on several profitable product niches, including the specialty fertilizer and organic fertilizer segments. Additionally, products with an elevated nutrient content, versatility, and environmental friendliness are in high demand from crop farmers. They boost antioxidant activity and lessen environmental and disease-related stress on plants. The hormones promote the plant's vigor and general health by stimulating growth, root formation, and cell expansion. Biostimulants are organic, biodegradable ingredients that do not harm the environment or the plant's surroundings. As a result, they are seeing much interest in organic farming methods.
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Market U.S.P. Covered:
Market Drivers:
Questions concerning agriculture's long-term environmental sustainability and safety have been raised by the growing output of organic food and animal feed sans the use of excellent fertilizers and the potentially harmful side effects of synthetic pesticides and fertilizers. Crops classified as high-value are frequently sold for a premium price due to their distinctive qualities or properties, such as taste, quality, or nutritional worth. In addition to specialized crops like quinoa and kale, they can also include unique vegetables and fruits, herbs, and spices. To develop crops and raise livestock, organic agriculture stresses the application of natural biostimulants and methods rather than manufactured chemicals.
Organic farming seeks to improve biodiversity and soil health, lessen pollution, and lessen the damaging effects of farming on the surroundings. As consumers become more concerned about the effects of their food choices on their health and the environment, there has been a surge in consumer appetite for high-value crops and organic farming in recent years. Farmers can enhance root and shoot growth, higher growth possibility, and stress tolerance by utilizing organic and bio-based substances in agriculture and forestry. This is due to increased demand for the solution from numerous end-use applications, including foliar treatment, soil treatment, and seed treatment.
Restraints
Lack of restrictions on the product's monetization may impede the market's development and expansion during the projection period in many emerging markets. An absence of trust in fresh offerings, a lack of understanding of quality products, and consistent regulatory and supportive network policies restrain the market's expansion.
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COVID Analysis
Nearly every industry has been influenced by the pandemic's breakout, and the agriculture sector has been affected in diverse ways. The revenue of the crop protection product segment was somewhat down for the top market players. The market for the product is anticipated to increase at a reasonable rate due to the rising demand for bio-based, secure, and sustainable agri-inputs. Furthermore, it is projected that the biostimulant business will stabilize and prosper in the upcoming months thanks to ongoing efforts of market participants like Syngenta and Novozymes to remain operating with the implementation of safety measures.
Market Segmentation
The market is divided into foliar, soil, and seed treatment. Humic compounds, seaweed extracts, microbial additions, amino acids, and others are among the market's active constituents. The market offers a variety of crops, such as fruits and vegetables, grains and cereals, oilseeds and pulses, and others.
Regional Insights
The market for biostimulants on a global scale now includes a sizable presence in the Europe region. Biodiversity strategies engage in several activities, including investments in horizon projects and networks for inspired ideas. The testing of the three consortiums' biostimulant products by the INBIOS operational group is one of the networks' inspiring concepts. Biostimulants of nitrogen-fixing bacteria for reducing nitrogen fertilizers, microbes that can cause crop resistance, and biocontrol agents for reducing phytosanitary treatments are all being tested. In the upcoming years, the Asia-Pacific market is expected to experience rapid growth.
This is due to the growing use of sustainable agricultural methods in important Asian nations like China and India. The industry is anticipated to develop as Asian producers increasingly adopt high-quality agricultural products. The need for greater food production has increased due to the ongoing population growth in many Asian economies. Additionally, the region's growing emphasis on food security and sustainable food production among Asian governments creates potential opportunities for these biologicals.
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