According to a new research report by Global Market Insights Inc., the Biostimulants Market is expected to exceed USD 6.5 billion by 2028. Rising consumer focus on health & nutrition coupled with numerous benefits offered by product such as organic quality, nutrient enrichment, enhanced productivity to the agricultural produce will propel industry growth.

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According to market analysis, changing climatic conditions, food shortage, and necessity to increase yield per hectare owing to the presence of small arable lands & water scarcity are likely to drive industry growth.

According to market analysis, some major findings of the biostimulants market report include:

  • Significant benefits including better nutritional content, improving soil fertility, and reduced environmental effects provide a positive outlook for product penetration. Furthermore, increasing farmer awareness pertaining to bio-based products and sustainable farming practices will also support the biostimulants market growth.
  • Ability to address productivity issues including extreme temperatures, stressful growing conditions, and irregular rainfall, biostimulants can provide better support in affected regions. Rapid advancements in agricultural methods including increased plant recovery & tolerance from abiotic stresses will support business expansion.
  • Strong demand for product due to its favourable properties such as an excellent nutrient enhancer and organic growth regulator has urged manufacturers to utilize them in the organic farming sector.
  • Regulatory compliance from government & non-government organizations to minimize synthetic fertilizer use will fuel the biostimulants market growth. Government initiatives to support the agricultural industry by providing subsidies for organic & bio-based farming are key factors driving the industry size.
  • Market statistics for biostimulants market from fruit & vegetable crops incurred the significant growth of over 12% between 2022 to 2028 and the segment is further anticipated to witness significant gains due to increasing consumption of fruits & vegetables along with adoption of organic farming activities across globe.

Asia Pacific region acquired a significant share in the global biostimulants market. Rising financial support by the governments for agricultural sector with increasing food demand is expected to drive the market in the region.

According to industry analysis, North America biostimulants market is anticipated to surpass USD 1.15 Billion revenue by 2028. The region is characterized by favorable regulations along with a focus on organic farming and yield enhancement. The region provides an opportunity for the new industry participants to enter the market for their investment in agricultural sector. The U.S. is the major country in the North America region, which is focusing on organic farming, in turn supporting the regional market share. Increasing production of row crops such as corn, soybeans, wheat, and sorghum will further boost regional industry size.

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The biostimulants market share is competitive with presence of multinational corporations and growing regional manufacturers such as Arysta LifeScience Corporation., Biolchim S.p.A, Biovert SL, BASF SE, Bayer S.p.A., Desarrollo Agrícola y Minero, S.A. Key strategies include mergers & acquisitions, capacity expansions, technical collaborations, and new product development for specific applications. For instance, in 2021, Nutrien signed a partnership with AgTech Garage, an agribusiness innovation hub in South America that connects companies and start-ups. The partnership will allow Nutrien to explore new and existing challenges faced by customers and share solutions.

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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