According to the report by Expert Market Research (EMR), the Global Biostimulants Market Size is projected to grow at a CAGR of 10.70% between 2023 and 2028. Aided by the rising utilisation of microbial biostimulants and growing need for food security, the market is expected to grow significantly by 2028.
Biostimulants are naturally occurring, or bio-based substances used in agriculture to enhance plant growth, productivity, and nutrient use efficiency. They are typically applied to plants’ roots or leaves to improve nutrient uptake, tolerance to abiotic stress, and crop quality. Apart from their beneficial effects on plant health, biostimulants also enhance soil fertility, making them a vital component in sustainable farming practices.
The escalating demand for sustainable agricultural solutions is a key global driver boosting the biostimulants market growth. As the negative impacts of synthetic fertilisers and pesticides on soil health and the environment become increasingly evident, there has been a significant shift towards sustainable alternatives like biostimulants. Additionally, the growing trend of organic farming, fuelled by consumer preferences for organic food products, has further amplified the market growth.
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Furthermore, the growing need for food security in the wake of rising global populations has prompted an increased focus on biostimulants. With the challenge of increasing agricultural productivity without exacerbating environmental damage, biostimulants have emerged as a key tool for enhancing crop performance and yield, thus supporting food security efforts.
The expanding applications of biostimulants in various cropping systems also play a significant role in propelling the biostimulants market demand. In field crops, biostimulants are used to enhance yield and resilience against abiotic stressors like drought and extreme temperatures. The horticulture sector utilises biostimulants to improve crop quality and shelf-life, vital in the production of high-value fruits, vegetables, and ornamental plants. In turf and ornamental applications, biostimulants promote healthier, more robust growth and improve aesthetic appeal.
The biostimulants market is set to witness substantial growth propelled by the increasing demand for sustainable agricultural solutions, broad applications across various cropping systems, and the role of biostimulants in enhancing food security.
The market can be divided based on active ingredients, crop, source, application, and region.
Market Breakup by Active Ingredients
- Seaweed Extracts
- Humic Substances
- Microbial Amendments
- Vitamins and Amino Acids
Market Breakup by Crop
- Raw Crops
- Fruits and Vegetables
- Turf and Ornamentals
Market Breakup by Source
Market Breakup by Application
- Foliar Treatment
- Seed Treatment
- Soil Treatment
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global biostimulants companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Valagro S.p.A
- BASF SE
- Isagro S.p.A.
- Biostadt India Limited
- Biochimica S.p.A
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