Biostimulants Market Size to Grow USD 203 Million by 2028 at a CAGR of 5.5% | Valuates Reports

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Apr 13, 2023, 10:01 ET

BANGALORE, India, April 13, 2023 /PRNewswire/ -- The Global Biostimulants Market is Segmented by Type (Acid-Based Biostimulants, Plant Extract Biostimulants), by Application (Fruits & Vegetables, Turf & Ornamentals, Row Crops): Global Opportunity Analysis and Industry Forecast, 2021-2031. It is published in Valuates Reports under the Chemicals Category.

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Biostimulants market is projected to reach USD 203 Million by 2028 from an estimated USD 147.2 Million in 2022, at a CAGR of 5.5% during 2023 and 2028.

Major Factors Driving the Growth of the the Biostimulants Market Report:

The Biostimulants market is growing due to the increase in demand for the product from many end-use industries, including seed, soil, and foliar treatment. Organic fertilizers called biostimulants are used to nourish agricultural products and to encourage plant growth and production. The substance encourages plant growth and development from seed germination to plant maturity. These fertilizers increase soil fertility by promoting the development of interdependent soil microorganisms that help with the nutrient transfer, assimilation, and utilization.

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TRENDS INFLUENCING THE GROWTH OF BIOSTIMULANTS MARKET

The government has increased agricultural production of superior goods with little to no pollution due to rising agricultural emissions. Governments all around the world are beginning initiatives to inform farmers about the many advantages of bio-based agricultural solutions. In the upcoming years, market growth is expected to be greatly aided by these governmental initiatives. Additionally, a number of regulatory bodies and councils have been established to promote and aid in a favorable business environment for the sector. Around the world, there are more associations emerging to regulate this unique product, which is expected to be good for the Biostimulants market expansion.

Food security and public health are inextricably intertwined, and efforts have been made to ensure sustainable food production by all parties involved in the agri-food sector. The biggest phytopharmaceutical firms in the Asia Pacific and Europe have increased their efforts in natural product R&D and production. In order to increase the vigor of the plants, improve their ability to withstand harsh climatic conditions, and increase their resilience, gardeners are increasingly moving their preferences toward plant growth promoters. Thus, crop protection goods and yield boosters derived from natural sources are emerging as the foundation of agriculture, enabling the availability and market access to biostimulants and boosting the market for these products as a whole. This factor is expected to drive the growth of the Biostimulants market

Plant growth and health can be enhanced by enhancing metabolism and encouraging growth. Additionally, supplying a catalyst at particular developmental stages might enhance crop quality overall while increasing yield and uniformity. Generally speaking, biostimulants work through different processes than conventional fertilizers and offer vital nutrients for plant metabolism that promote plant growth. These metabolic pathways stimulate the expression of genes that can affect cell size and division, root and shoot development, and the timing of reproduction. This factor is expected to drive the growth of the Biostimulants market.

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BIOSTIMULANTS MARKET SHARE

Biostimulants are a fragmented market with several companies in the APAC region. Leading companies in the APAC region include Angel Yeast, Biostadt, Fengdan Baili, Leili, and Biotech International, with a combined sales market share of around 40% in 2019.

Other significant players from China and India are IPL Biologicals, Humikey, Kanbiosys, Guangzhou Sgy Agricultural Science, and Dhanuka.

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Key Companies:

Angel Yeast
Biostadt
Fengdan Baili
Leili
Biotech International
IPL Biologicals
Humikey
Kanbiosys
Guangzhou Sgy Agricultural Science
Dhanuka
AMMS Century
PI Industries
HCM Agro Produts
Valagro
Biolchim
Symborg
Plant Response
Tradecorp
Fengdan Baili

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- Agricultural Machinery market size is projected to reach USD 213610 Million by 2026, from USD 152660 Million in 2019, at a CAGR of 4.9% during 2021-2026.

- Biofertilizer market size is estimated to be worth USD 2519 million in 2022 and is forecast to a readjusted size of USD 4459.5 million by 2029 with a CAGR of 8.4% during the forecast period 2023-2029.

- Organic Fertilizer market size is projected to reach USD 13.8 Billion by 2026, from USD 6.9 Billion in 2019, at a CAGR of 10.4% during 2021-2026.

- Crop Protection Chemicals market size is projected to reach USD 64520 million by 2027, from USD 52630 million in 2020, at a CAGR of 2.9% during 2021-2027.

- Smart agriculture market size was valued at USD 16,746.7 million in 2019, and is estimated to reach USD 29,234.6 million by 2027 with a CAGR of 9.7% from 2021 to 2027.

- Herbicide market size is expected to reach an overall market revenue of USD 7,998.9 Million by 2025, by growing at a CAGR of 4.8% during the forecast period.

- Smart irrigation market size was valued at USD 1.44 Billion in 2020, and is projected to reach USD 5.57 Billion by 2030, growing at a CAGR of 13.9% from 2021 to 2030.

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