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Biostimulants Market: Meticulous Research® Uncovers the Reasons for Market Growth at a CAGR of 12.4% to reach $5.9 Billion by 2028

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Biostimulants Market: Meticulous Research® Uncovers the Reasons for Market Growth at a CAGR of 12.4% to reach $5.9 Billion by 2028

October 08
09:00 2021
Biostimulants Market: Meticulous Research® Uncovers the Reasons for Market Growth at a CAGR of 12.4% to reach $5.9 Billion by 2028
The Biostimulants Market is expected to grow at a CAGR of 12.4% from 2021 to reach $5.9 billion by 2028, while in terms of volume, the market is expected to grow at a CAGR of 12.9% from 2021 to reach 864,094.7
Biostimulants Market by Active Ingredients (Acid-based, Extracts-based), Mode of Application (Soil Treatment, Seed Treatment), Formulation (Liquid, Dry), Crop Type (Row Crops, Fruits & Vegetables, Turfs & Ornamentals) — Global Forecast to 2028

Biostimulants are natural preparations that improve the general health, vitality, and growth of plants and protect them against infections. They can be used in both agri- and horticultural crops. The use of biostimulants on a commercial scale would limit the number of mineral fertilizers introduced into the environment, thus reducing the pollution of soils, water, and air.

Global agriculture accounts for an average of 21% of the global greenhouse effect, of which around 13% is concerned with the effect of artificial fertilizers. A positive impact on crop quality and performance, no negative or harmful impact on people, animals, or the environment, increased biodiversity of beneficial microorganisms, and improvement of soil properties are the main advantages of biostimulants.

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Meticulous Research® in its latest publication on the biostimulants market, states that in terms of value, the global biostimulants market is expected to grow at a CAGR of 12.4% from 2021 to reach $5.9 billion by 2028, while in terms of volume, the market is expected to grow at a CAGR of 12.9% from 2021 to reach 864,094.7 metric tons by 2028.

The growth of this market is backed by the growing need to increase crop yield and quality, growing organic farming & demand for organic food, the wide range of benefits of biostimulants in crop production, and growing awareness about environmental safety with the use of biostimulants. However, the lack of education and awareness among farmers and challenges to new entrants and small companies obstructs the growth of this market to some extent. Also, scientific & technical difficulties for developing biostimulants are a major challenge for the growth of the biostimulants market.

Scope of the Report:

Biostimulants Market, by Active Ingredient

  • Acid-based
    • Humic Acid
    • Amino Acid
    • Fulvic Acid
  • Extract-based
    • Seaweed Extracts
    • Other Botanical Extracts
  • Microbial Amendments
  • Trace Minerals and Vitamins
  • Other Active Ingredients

Biostimulants Market, by Mode of Application                               

  • Foliar Spray
  • Soil Treatment
  • Seed Treatment

Biostimulants Market, by Formulation             

  • Liquid Formulation
    • Suspension Concentrates
    • Soluble Liquid Concentrates
    • Emulsifiable Concentrates
  • Dry Formulation
    • Dry Granules
    • Wettable Powder
    • Water Dispersible

Biostimulants Market, by Crop Type

  • Row Crops
  • Fruits & Vegetables
  • Turfs & Ornamentals
  • Other Crop Types

Biostimulants Market, by Geography

  • Europe
    • Spain
    • France
    • Italy
    • Germany
    • U.K.
    • Rest of Europe (RoE)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Australia
    • Japan
    • Rest of Asia-Pacific (RoAPAC)
  • Latin America
    • Argentina
    • Brazil
    • Chile
    • Rest of Latin America (RoLATAM)
  • Middle East & Africa

To gain more insights into the market with a detailed table of content and figures, click here  : https://www.meticulousresearch.com/product/biostimulants-market-5057

To provide efficient analysis, Meticulous Research® has segmented this market based on active ingredients (acid-based {humic acid, amino acid, and fulvic acid}, extract-based {seaweed extract and other botanical extracts}, microbial amendments, trace minerals and vitamins, and other active ingredients), mode of application (foliar spray, soil treatment, and seed treatment), formulation (liquid and dry), crop type (row crops, fruits & vegetables, turf & ornamentals, and other crop types), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on active ingredient, the biostimulants market is segmented into acid-based, extract-based, microbial amendments, trace minerals and vitamins, and other active ingredients. The acid-based biostimulants segment is expected to account for the largest share of the biostimulants market in 2021. The large share of this segment is mainly attributed to their easy availability, a wide range of benefits to plants, and higher effectivity. Also, acid-based active ingredients improve the uptake of minerals, stimulate plant growth, and improve the plant’s natural resistance to environmental stresses.

However, the extract-based biostimulants segment is expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly attributed to its multiple functions, such as initiation of seed germination, growth regulation, braking bud dormancy, fluorescence, and fruit development.

Based on formulation, the biostimulants market is segmented into liquid and dry. The liquid formulations segment is expected to account for the largest share of the biostimulants market in 2021. The large share of this segment is mainly attributed to the liquid formulation’s better performance and higher effective duration (up to 6 months) than that of dry formulation (up to 3 months).

Based on crop type, the biostimulants market is segmented into row crops, fruits & vegetables, turf and ornamentals, and other crop types. The row crops segment is expected to account for the largest share of the biostimulants market in 2021. The large share of this segment is mainly attributed to the factors such as the huge area under row crops cultivation across the globe, increasing organic farming, and growing usage of biostimulants instead of chemical fertilizers or pesticides. However, it is also expected to grow at the highest CAGR during the forecast period.

Based on mode of application, the biostimulants market is segmented into foliar spray, soil treatment, and seed treatment. The foliar spray segment is expected to account for the largest share of the biostimulants market in 2021. The large share of this segment is mainly attributed to its higher efficiency compared to other modes of application. However, the seed treatment segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its benefits which include increased nutrient availability in the rhizosphere, enhanced root and shoot growth, increased nutrient uptake, protection from pathogens, and better nutrient utilization efficiency.

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Geographic Review:

Geographically, Europe is expected to account for the largest share of the overall biostimulants market in 2021. The large share of this region is primarily attributed to the rising concerns over harmful chemicals on the environment, increasing demand for organic food, growing R&D activities on biostimulants, and the presence of a large number of biostimulants providers.

Spain is expected to dominate the European market through 2028, mainly due to its rising organic food industry, high-quality food demands, and increasing focus on improving soil fertility and farm productivity. However, the Latin American region is slated to register the fastest growth during the forecast period, primarily due to the increasing population, rising demand for and popularity of organic products, environmental concerns over agrochemical usage, and the rising need to increase agricultural production.

Key Players

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence for some of the key players operating in this market, including Marrone Bio Innovations, Inc. (U.S.), Biolchim SpA (Italy), Bayer AG (Germany), Andermatt Biocontrol AG (Switzerland), Som Phytopharma India Limited (India), BioWorks, Inc. (U.S.), Novozymes A/S (Denmark), Koppert B.V. (Netherlands), Gowan Company, LLC. (U.S.), Italpollina SpA (Italy), Rovensa S.A. (Portugal), Biostadt India Limited (India), Olmix S.A. (France), FMC Corporation (U.S.), Syngenta AG (Switzerland), BASF SE (Germany), BioAtlantis Ltd. (Ireland), Omex Agrifluids Limited (U.K.), Agrinos Inc. (U.S.), Plant Health Care plc (U.S.), Haifa Group (Israel), SICIT Group S.p.A. (Italy), and EuroChem Group AG (Switzerland).

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here-https://www.meticulousresearch.com/custom-research

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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