Market Overview:

Biostimulants Market was worth USD 2009.06 million in 2020 and estimated to be growing at a CAGR of 11.92%, to reach USD 3528.02 million by 2025.

Biostimulants are applied to the soil, plants, seeds, and other substrates for stimulating the natural processes of plants, which are intended to improve the nutrient use efficiency of plants. Biostimulants enhance the crop quality, crop vigor, and crop yield as well as crop tolerance to the abiotic stress. Biostimulants contain various formulations of microorganisms, substances, and compounds, which are applied on plants or soils. Biostimulants nurture the development of plants throughout their life cycle, right from seed germination to crop maturity. Biostimulants differ from conventional agrochemical solutions such as pesticides and fertilizers, as they work for the vigor of plants, but they are not intended for use against pests or diseases.

Market Drivers and Restraints:

Increasing responsiveness regarding the implementation of sustainable agricultural measures is expected to boost the demand for biostimulants in the next few years. However, lack of awareness among farmers regarding the benefits and efficacy of biostimulants, particularly in developing countries, is likely to hamper the global biostimulants market during the forecast period.

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Report Segmented as:

By Active Ingredients:

• Fulvic Acid
• Protein Hydrolysates
• Seaweed Extracts
• Amino Acids
• Humic Acids
• Others

By Application:

• Seed
• Foliar
• Soil

By Crop Type:

• Fruits & Vegetables
• Cereals & Oilseeds
• Turfs & Ornaments
• Others

Geographical segmentation:

Based on the region, the global biostimulants market has been classified into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America. Europe dominated the global market in 2018. This trend is estimated to continue during the forecast period also. The region is projected to create lucrative opportunities for the biostimulants market in the near future. Factors such as stringent regulations about approval of agrochemicals in Europe, led by harmful effects of chemical-based agro products, and increasing demand for organic food is likely to boost the demand for biostimulants in Europe between 2019 and 2027. Germany is expected to lead the biostimulants market in Europe, followed by France and Italy, during the forecast period. The fruits & vegetable segment is likely to be a significant consumer of biostimulants in Europe in the next few years.

Key Market Players:

Key players operating in the global biostimulants market include Biolchim S.p.A., Agrinos, UPL, Valagro, Novozymes, and Syngenta.

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The Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with colossal growth potential identified and debated.

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