Biostimulants Market Research Insights, Trends Forecast 2022-28

According to Precision Business Insights (PBI) latest report, the biostimulants market is expected to be worth USD 3670.8 million in 2022, growing at a 12.1% CAGR from 2022 to 2028. The ability to increase crop production output is driving up demand for sustainable and environmentally friendly alternative options. Biostimulants are any compounds or microbes that are given to plants to improve sustenance efficiency and abiotic stress tolerance while also improving crop quality, characteristics, and features, regardless of nutrient content. Furthermore, regardless of nutrient content, biostimulants applied to plants improve nutrition efficiency, abiotic stress tolerance, and/or plant quality attributes. By comparing yield between different systems is very context-dependent, biostimulants or biofertilizers are important that the components of sustainable agriculture and have the capacity to tip the scale in favor of organic agricultural methods. As a result, demand for biostimulants in organic agriculture is likely to increase in the coming years.

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Cereals and Grains Segment to Dominate the Biostimulants Market:
The cereals and grains segment is expected to account for a larger revenue share in the global Biostimulants market, with a value share of 32.7% worldwide. It is projected to grow at an 11.3% CAGR between 2022 and 2028. The cereals and grains segment is the one in which biostimulants are most regularly used to boost crop quality and production, according to the biostimulant market. Cereals and grains are the most widely consumed foods globally, and as a result, global demand for these products is increasing. The use of biostimulants in crops is expanding to meet the worldwide biostimulant market demand since biostimulant help to enhance crop growth and production. Biostimulants are widely used in crops in developing nations that produce the majority of cereals and grains, such as India and China.

Europe Biostimulants Market:
The Europe market is expected to hold a significant market share in the global biostimulants market over the forecast period. It is projected to grow at a CAGR of 12.3% in the coming years. The expanding importance of a sustainable agriculture strategy, as well as the increased development of new novel solutions that target specific agronomic needs, are driving the European biostimulants market. The key drivers of increased biostimulant usage in the region are Spain, Italy, and France. The regulation of crop inputs in Spain has undergone considerable changes in recent years. Fertilizers must be monitored before being sold, according to the new legislation. However, prior registration is required for the marketing of OMDF (other methods of plant defense), which includes most biostimulants. Furthermore, plant biostimulant innovations that address specific agronomic needs are drawing new clients throughout Europe. For example, in the UK, Arysta LifeScience released a novel biostimulant in 2017 that improves the quality of fruit and vegetable crops while reducing stress.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global biostimulants market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In October 2021, UPL Limited collaborated with Chr. Hansan, a global bioscience company, develops microbial-based BioSolutions (including biostimulants and Biostimulants).

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The biostimulants market is segmented based on active ingredients, mode of application, formulation, crop type, and geography.
Based on the active ingredients, the market is segmented into the following:
• Humic substances
• Humic acid
• Fulvic acid
• Seaweed extracts
• Microbial amendments
• Amino acids
• Others

Based on the mode of application, the market is segmented into the following:
• Seed treatment
• Soil treatment
• Foliar spray
• Others
Based on the formulation, the market is segmented into the following:
• Liquid
• Dry

Based on the crop type, the market is segmented into the following:
• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Turfs & ornamentals
• Others

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Key players' profiles in the biostimulants market report are Isagro Group, BASF SE, Biolchim SpA, Sapec Agro S.A., Platform Specialty Products Corp., Novozymes A/S, Valagro SpA, Italpollina SAP, Koppert B.V., and Biostadt India Ltd.

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