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| Biostimulants Market |
Biostimulants are substances or microbial strains that, when applied to plants or seeds, stimulate natural physiological mechanisms which enhance plant health and vigor and help plants withstand stresses like drought, high salinity, and disease. They are a key input for sustainable agriculture as they can improve nutrient use efficiency, increase tolerance to abiotic stress and provide a plant's defense against diseases and harmful organisms. With growing concerns of environmental pollution from excessive use of fertilizers and pesticides, biostimulants have gained popularity among farmers as they help boost crop yields while maintaining soil quality and health. The need for food security along with sustainable farming practices is driving the demand for biostimulants globally.
Global
biostimulants market is estimated to be valued at US$ 3729.34 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period
of 2024 to 2030.
Key Takeaways
Key players operating in the biostimulants market are Bayer CropScience AG,
Groupe Limagrain, Syngenta AG, BASF SE (Nunhems BV), Rijk Zwaan Zaadteelt En
Zaadhandel BV, Sakata Seed Corporation, UPL Limited (Advanta Seeds
International), Takii & Co. Limited, East-West Seed International Ltd, Enza
Zaden BV, Bejo Zaden BV, and Namdhari Seeds. Biostimulant companies are
focusing on organic and environment-friendly products to tap opportunities
arising from growing consumer demand for chemical-free farm produce. The market
is witnessing expansion in Latin America and Asia Pacific regions owing to
supportive regulatory frameworks and increasing agricultural exports from these
regions.
Market Drivers
Growing population and need for sustainable food production: With the global population
projected to reach 9.8 billion by 2050, there is an urgent need to boost
agricultural productivity while reducing environmental footprint of farming.
Biostimulants help enhance crop yields from existing land with minimal inputs.
Environmental and regulatory push for sustainable agriculture: Strong
regulations banning toxic agrochemicals and incentives for sustainable farming
practices are propelling demand for biostimulant products. Additionally,
biostimulants leave no chemical residues thus find favor among exporters of
horticultural crops.
Market Restraints
High Research Cost: Developing effective and stable biostimulants require
extensive research and field trials which increases the cost of products. This
poses a challenge for widespread adoption.
Lack of awareness: Despite multiple benefits, awareness about biostimulants is
still low among smallholder farmers in developing nations limiting the market
potential. Extensive promotion is needed to popularize biostimulant usage.
Segment Analysis
The humic acid sub segment currently dominates the Biostimulants
Market Growth owing to its ability to enhance nutrient uptake and
promote root and cell development in crops. Humic acid has multifunctional
benefits and works throughout the entire lifecycle of various crops. It
enhances crop productivity and quality while reducing the need for synthetic
fertilizers. The seaweed extracts sub segment is poised to grow at a rapid pace
during the forecast period due to rising awareness among farmers about its
growth promoting properties. It helps in mitigating abiotic stressors in crops
and facilitates higher and early yields.
Global Analysis
Europe currently accounts for the largest share in the global biostimulants
market. Countries like Italy, France and Spain are the major revenue generators
due to large scale cultivation of high value crops. Forward integration of
producers with distributors and farmers further aids market growth. The Asia
Pacific region is projected to witness the fastest growth during the forecast
period backed by rising population, increasing demand for food and emergence of
contract farming in countries like India and China. Supportive regulatory
frameworks and promotion of organic and sustainable agricultural practices
would also augment the industry expansion.
For more insights, read-https://www.newsstatix.com/biostimulants-market-trends-size-and-share-analysis-2/
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