The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The biostimulants market is set for a flourishing journey, with an anticipated growth from $2.79 billion in 2022 to $3.01 billion in 2023, boasting a notable CAGR of 8.0%. Looking further ahead, the market is expected to reach $4.09 billion in 2027, sustaining the same impressive CAGR. Let’s delve into the key drivers and trends propelling the biostimulants market forward.

Sustainable Agriculture: A Catalyst for Growth

• The growth of sustainable agriculture is a key driver behind the rising demand for biostimulants.
• Deteriorating factors such as soil degradation, water scarcity, and climate change necessitate a shift towards sustainable farming practices.
• In sustainable agriculture, the use of artificial products like fertilizers and pesticides is restricted, promoting environmental health.
• Biostimulants enhance plant nutrient absorption and assist in managing biotic stress, making them a vital component in sustainable farming.
• The United Nations’ sustainable development goals for 2030 emphasize sustainable agriculture, driving the adoption of biostimulants globally.

Major Players in the Market

• Industry leaders such as BASF, Bayer CropScience, and Novozymes A/S play a pivotal role in shaping the biostimulants market.
• Innovation is a key focus for companies, driving the development of new products to meet customer demands and gain a competitive edge.
• Start-ups are making a mark with innovative offerings. For instance, a Spanish biostimulation provider introduced Biimore, an innovative biostimulant made from a sustainable plant fermentation process. It improves yield and harvest quality at ultra-low doses.
• Evonik Industries, a German specialty chemicals company, is developing a biostimulant expected to launch in 2025-2027. This innovative product reduces fertilizer use by half while maintaining 93% of yields.

Market Segmentation: Tailored Solutions for Varied Needs

• By Chemical Origin: The biostimulants market is segmented into Natural and Biosynthetic Biostimulants.
• By Active Ingredient: Options include Humic Acid, Fulvic Acid, Amino Acids, Protein Hydrolysates, Seaweed Extracts, and Other Active Ingredients.
• By Application: Biostimulants find applications in Foliar, Soil, Seed, and other diverse uses, catering to the specific needs of agriculture.

Regional Dominance: Asia-Pacific Leading the Way

• Asia-Pacific emerges as the largest region in the biostimulants market in 2022.
• The region’s prominence reflects its significant role in steering the global growth of biostimulants.

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The Biostimulants Global Market Report 2023  provides an overview of the biostimulants market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The biostimulants market forecast analyzes biostimulants market size, biostimulants market share, leading competitor and their market positions.

The Table Of Content For The Biostimulants Market Include:
1. Biostimulants Market Executive Summary
2. Biostimulants Market Segments
3. Biostimulants Market Size And Biostimulants Market Growth Rate
4. Key Biostimulants Market Trends
5. Major Biostimulants Market Drivers
……
25. Key Mergers And Acquisitions In The Biostimulants Market
26. Top Biostimulants Companies
27. Biostimulants Market Opportunities And Strategies
28. Biostimulants Market, Conclusions And Recommendations
29. Appendix

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