Biostimulants Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2028
Biostimulants
Market size: USD 2.89 in 2020, Market Growth: CAGR of 11.3%, Market Trends: Increasing
consumer inclination toward organic products
The global Biostimulants
Market size is expected to reach USD 6.75 billion by 2028 and register
a CAGR of 11.3%, according to the latest report by Reports and Data. Growing
ecological concerns due to the overuse of chemical-based products in
agricultural sector has increased the demand for eco-friendly biostimulants and
is fueling market revenue growth.
Biostimulants are
additives for crops and plants that enhance their nutritive efficiency, crop
quality, and yield. They also increase stress tolerance of crops to extreme
conditions such as floods, drought, or salinity. Extensive use of synthetic
pesticides, scarcity of arable land, growing demand for high value-added crops,
and increasing awareness about environmental impact of chemical products are
some significant factors enhancing growth of the biostimulants market.
In addition,
growing focus on enhancing crop productivity and rapid soil degradation has
compelled several farmers to opt for organic agricultural processes, thereby
increasing demand for biostimulants. Several market players are focusing on
R&D activities for developing improved products and expand the product
lines, which is expected to further boost revenue growth of the
market.
Key companies
in the biostimulants market are BASF (Germany), Isagro (Italy), Valagro (Italy),
Bayer (Germany), Italpollina (Italy), Koppert Biological Systems (Netherlands),
Acadian Seaplants (Canada), UPL (India), and Biolchim (Italy).
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Some key
highlights in the report:
- On the basis of crop type, the cereal
& grain segment is expected to contribute considerable market revenue
share throughout the forecast period owing to availability of large
cultivable land and increasing demand for these crops around the year.
Biostimulants applied to these crops help to boost rate of cell division,
improved seed size, and high yield.
- Based on active ingredients, the
seaweed extract segment is expected to register a significantly robust
CAGR throughout the forecast period. High revenue CAGR is attributed to
increasing adoption of seaweed cultivation and growing demand for seaweed
in various agricultural applications.
- On the basis of mode of application,
the foliar spray treatment segment is expected to account for largest
revenue share during the forecast period due to high efficiency in
comparison with other application methods.
- Asia Pacific is expected to register
fastest revenue CAGR between 2021 and 2028 owing to existence of large
area for cultivation, rising demand for better crop quality and yield, and
growing demand for organic vegetables and food.
- Europe is projected to continue its
leading position in terms of revenue share during the forecast period
owing to supportive regulations for organic food production along with
increasing demand for organic foodstuffs.
To identify the key trends in the industry,
click on the link below: @ https://www.reportsanddata.com/report-detail/biostimulants-market
For this study, Reports
and Data has segmented the global biostimulants market based on Source, Active
Ingredient, Crop Type, Form, Application Method, and Region:
Based On
Source: (Revenue, USD Billion, 2018 - 2028)
- Natural
- Synthetic
Based On Active
Ingredient (Revenue, USD Billion, 2018 - 2028)
- Humic Substances
- Humic Acid
- Fulvic Acid
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Others
- Vitamins
- Trace minerals
- Polysaccharides
Based On Crop
Type (Revenue, USD Billion, 2018 - 2028)
- Cereals & Grains
- Fruits & Vegetables
- Turf & Ornamentals
- Oilseeds & Pulses
- Others
- Forage
- Plantation Crops
Based On
Application Method: (Revenue, USD Billion, 2018 - 2028)
- Foliar Treatment
- Soil Treatment
- Seed Treatment
Based On Form:
(Revenue, USD Billion, 2018 - 2028)
- Dry
- Liquid
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of the report @ https://www.reportsanddata.com/request-customization-form/4102
Based On Region
(Revenue, USD Billion, 2018 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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customized based on regional segmentation and leading players. Kindly get in
touch with us to know more, and our team will ensure the report is well suited
to meet your requirements.
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