Global Biostimulants Market – Analysis and Forecast (2021-2027)

1. Global Biostimulants Market

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3. Global Biostimulants Market The global market for biostimulants was USD 2.9 billion in 2020 and is anticipated to reach USD 5.9 billion by 2027, witnessing a CAGR of 12.3% during the forecast period 2021-2027. Biostimulants are naturally derived additives or microorganisms used in crops to increase crop production and cultivation so as to enhance nutritional efficiency, crop quality, and maintain soil quality. The COVID-19 pandemic has led to positive growth in the biostimulants market as it helps in plant growth and increases crop and food production. However, lockdown measures and lack of labor force have restricted production and trade movements in the initial months of the COVID-19 crisis along with reduced demand from major markets has decreased the profits of biostimulants manufacturers.

4. Global Biostimulants Market The biostimulants market is gaining traction owing to the increasing crop yield and quality, mounting adoption of organic farming, increasing demand for organic food, advantages of biostimulants in crop production, rising awareness concerning environmental safety via biostimulants, robust soil degradation will fuel the growth of the biostimulants. Rising awareness regarding the ill effects of synthetic fertilizers coupled with rising initiatives by the government in order to promote biostimulants will further create lucrative growth opportunities. Asia-Pacific is expected to have the fastest growth as it has many agriculture-driven economies like India, Australia, China. The population is dependent on the agriculture sector resulting in providing opportunities for growth in the region.

5. Global Biostimulants Market FMC Corporation is an agricultural science company that offers innovative solutions to farmers around the world with a rapid product portfolio that leverages a market-driven R & D in crop protection, plant health, professional pest, and turf management. FMC product Accudo® biostimulant, a microbial innovation will lead to a yield increase of over 15%. It improves root development and has antifungal resistance, resulting in significantly higher yields compared to competing products. Some of the key players operating in the biostimulants market: BASF SE, UPL, Valagro, Gowan Company, FMC Corporation, ILSA S.p.A, Rallis India Limited, Haifa Negev technologies LTD, EuroChem Group, and Bayer AG.

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