Biostimulants Market Trends, In-Depth Analysis, Size And Forecast To 2028

The research report "Biostimulants Market: by Type (Acid-based (Amino Acid, Humic Acid, Fulvic Acid), Extract-based (Seaweed Extracts), Others (Microbial Soil Amendments, B-Vitamins, Chitin & Chitosan)), by crop (Turf and Ornamentals, Row Crops and Cereals, Fruits and Vegetables), by application (Seed, Foliar, Soil) and Geography- Global/Region/Country Forecast to 2028." The global biostimulants market size was estimated at USD 3294 Mn in 2021, growing at a CAGR rate of 12.3% during the forthcoming years 2022-2028.

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An Overview on the Biostimulants Market:
Biostimulants are the biological additives used in the production of crop for the purpose of improving productivity, health and growth of plants by enhancing the efficiency of nutrient use, assisting the plants to tolerate the abiotic stresses like heat, cold, drought and excessive water assists to augment the quality characteristics such as nutritional content, appearance and shelf life. Governments of various regions and major players throughout the globe are adopting various growth strategies like collaborations, acquisitions, agreements. For instance, in 2011 June, European agriculture biostimulants industry consortium was formed with the motto of fostering biostimulants role in agriculture to improve yield with fewer resources, sustainable agricultural production, economic growth and green innovation were the other major aims. Row crops like pulses oilseeds and cereals account for the larger share in cropped land and thereby these crop segments projects to cover a large scale of acreage for application of biostimulants.

Leading factors fuelling the biostimulants market growth are needed to increase the yield for every hectare and constant increase in the food demand worldwide. Moreover, as the biostimulants use will reduce the abiotic stress in the plants are allowing increase the biostimulants demand. In addition, increase in the government grants and funding in encouraging the use of biostimulants for addressing increasing issues about the sustainable agriculture has broadened the scope of manufacturers of biostimulants. But, lack of consciousness and increase in the R&D cost are the factors hampering the biostimulants market growth.

Europe accounted for major share in the Biostimulants Market:
On the basis of geographical regions, global biostimulants market is classified as into five key regions as Europe, Asia- Pacific, North America, Middle East & Africa and Latin America. Europe is the dominating in biostimulants market due to the rapid development of innovative biostimulants due to a property of boosting yields especially in Germany, UK, France and Italy. APAC is expected as the fastest growing market for the biostimulants. India, Japan, China, and Korea are the largest contributors for the growth of agriculture biostimulants market in APAC region owing to the growing acceptance of the organic farming, increase in demand for the high quality of agricultural products and facilitation of growth of the plant etc.

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Competitive Analysis - Biostimulants Market
Major players operating in the biostimulants market are BASF SE (Germany), Isagro SpA (Italy),Valagro SpA (Italy),Platform Specialty Products Company (U.S.), Italpollina SpA (Italy) and Sapec Group (Portugal).

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