The global Plant Biostimulants Market size was USD 3.15 Billion in 2022 and is expected to reach USD 8.06 Billion in 2032, and register a revenue CAGR of 11% during the forecast period. Plant Biostimulants are substances and microorganisms that stimulate plant growth and improve plant health by enhancing nutrient uptake, stress tolerance, and other physiological processes. Plant Biostimulants are widely used in agriculture, horticulture, and turf management.
The increasing demand for sustainable agricultural practices is one of the major factors driving the growth of the Plant Biostimulants market. Plant Biostimulants are used to enhance crop productivity and quality while reducing the use of synthetic fertilizers and pesticides. Plant Biostimulants can also help mitigate the effects of climate change by improving soil health, water use efficiency, and carbon sequestration.
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Top Leading Players in The Global Plant 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).
Plant Biostimulants Market Upcoming Growth:
Plant Biostimulants are substances or microorganisms that are applied to plants or soils to enhance plant growth, health, and productivity. The market for Plant Biostimulants is expected to grow due to the increasing demand for sustainable and eco-friendly agriculture practices.
The global Plant Biostimulants market was valued at $3.0 billion in 2020 and is expected to reach $6.0 billion by 2028, growing at a CAGR of 9.0% from 2021 to 2028. The growth of the market can be attributed to several factors such as the increasing demand for high-quality crops and the need for sustainable agriculture practices to address food security challenges.
Moreover, the increasing adoption of organic farming practices and the rising trend of using Plant Biostimulants in conjunction with traditional fertilizers are also expected to drive the growth of the market. The development of new biostimulant formulations and the increasing use of Plant Biostimulants in emerging markets may also create new opportunities for the market in the future.
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. Plant 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.
Segments covered in the report:
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
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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