Global Biostimulants Market: Growing demand for safe products and environmentally friendly, is expected to augment the market at a healthy CAGR of ~ 11.41% during the forecast period of 2022 to 2030.

Biostimulants Market Research Future Insights

According to MRFR analysis, the global Biostimulants Market is expected to register a CAGR of ~ 11.41% from 2022 to 2030 and hold a value of over USD 6.65 billion by 2030.

The rising need to increase crop yield and quality, rising organic farming & demand for organic food, the extensive range of benefits of biostimulants in crop production, and rising awareness about environmental safety with the use of biostimulants are the main factors driving the growth of the biostimulants market. The COVID-19 epidemic disrupted the food & beverage industry all across the globe. COVID-19 resulted in labor mobility boundaries, the closure of production facilities, and a drop in the demand for the products has delayed market growth. The sector also faced acute labor shortages as a result of recurrent lockdowns that disturbed manufacturing and trade operations. The decay in revenue in the first few months of 2020, along with decreased demand from a few important sectors, has put pressure on the profitability of biostimulant producers and suppliers. The vaccination drive and lockdown practices to limit the spread of the virus globally are likely to help the biostimulant market growth

Regional Analysis

Europe dominated the global market and accounted for the largest revenue share of over 37.5%. This is attributed to the rising consumption of organic foods and the rising preference of manufacturers for sustainable & eco-friendly production alternatives.

Asia Pacific was the second-largest regional market owing to the existence of various manufacturing companies along with the rapid growth of agriculture-based economies, such as India and China. The augmented product utilization due to the growing population, soil erosion, rising awareness among farmers, stringent government regulations & encouragement for the use of biostimulants, and the need for more sustainable solutions for product enhancement will fund market growth.

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Market Segmentation

The Global Biostimulants Market has been segmented into Type of crop, Distribution channel, and End-User

Based on the type of crop, The Global Biostimulants Market has been segmented into vegetables and fruits, grains and cereals, ornamental plants and herbs, legumes, and oilseeds, among other crops. The vegetable and fruit segment dominates the global market for biostimulants owing to the high production of vegetables and fruits worldwide. The high demand for vegetables and fruits requires biostimulants to meet the rising market demand.

Based on the distribution channel, The Global Biostimulants Market has been segmented into indirect and direct. The direct segment dominates the market because its demand is high from related industries as well as large-scale agriculture to offer high productivity globally among consumers.

Based on the end-user, The Global Biostimulants Market has been segmented into research institutes, farmers, and related industries. The farmer segment dominates the market as biostimulants are highly preferred by farmers to upsurge crop growth and productivity to meet consumer demand for organic products. These products are also the main reason for maintaining supportable agriculture, as their demand is greater in the agricultural area.

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Key Players

Some of the key market players are Koppet B.V. (Netherland), Agriculture Solutions Inc. (Canada), China Daily Co. Ltd. (China), Eastman Chemical Company (US), BASF SE(Germany), Agrinos AS (US), Arysta Lifescience Corporation (India), Valagro SpA (Italy), Acadian Seaplants Ltd. (India), FMC Corporation (US), Bayer A G (Germany), Koppert Biological Systems (Netherland), Isagro SpA (Italy), and Biolchim SpA (Italy)a

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