(EMAILWIRE.COM, May 01, 2024 ) The global biostimulants market is witnessing unprecedented growth, with estimations projecting a surge from USD 4.3 billion in 2024 to USD 7.6 billion by 2029, reflecting a remarkable Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period.
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Growing Adoption and Awareness Among Farmers
A key driver of this surge is the growing awareness among farmers about the manifold benefits biostimulants offer in enhancing crop yield, quality, and resilience to stress factors such as drought, salinity, and disease. As research continues to validate the efficacy of biostimulants, their adoption is proliferating across different crop types and geographical regions.
Fostering Organic Farming Practices
The escalating demand for organic food products is propelling the expansion of organic farming practices globally. Biostimulants play a pivotal role in organic agriculture by offering natural solutions for nutrient management, pest control, and soil fertility enhancement, thereby further fueling market growth.
Liquid Formulation Dominates
Liquid biostimulants, holding the largest share in the market by formulation type, are witnessing increased demand owing to their efficacy and ease of application. Typically applied through foliar spraying, liquid biostimulants are gaining traction due to growing awareness about their benefits.
Seed Treatment Segment Shows Rapid Growth
Within the mode of application, the seed treatment segment is experiencing the highest growth rate. Biostimulant seed treatments offer a rapid and efficient solution to counteract environmental stress during sowing, enhancing yield from seed germination onwards.
Microbial Amendments Segment on the Rise
Among active ingredient types, the microbial amendments segment is projected to witness the highest growth rate. Beneficial fungi and bacteria play crucial roles in supporting plant health and growth, with mycorrhizal fungi notably enhancing nutrient and water uptake, thereby improving overall plant resilience.
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European Region Leads the Market
Europe leads the biostimulants market in terms of value, driven by its robust agricultural sector and the advocacy efforts of organizations like the European Biostimulants Industry Council (EBIC). Biostimulant usage in agriculture is rapidly expanding across various sectors, driven by its proven benefits in enhancing crop productivity and sustainability.
Key Players
Key players in the biostimulants market include BASF SE, UPL, FMC Corporation, Rallies India Limited, Sumitomo Chemical Co., Ltd., Corteva, Nufarm, Syngenta Crop Protection AG, PI Industries, ILSA S.p.A., Coromandel International Limited, Haifa Group, T.Stanes and Company Limited, Gowan Company, and Koppert.
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1081
Growing Adoption and Awareness Among Farmers
A key driver of this surge is the growing awareness among farmers about the manifold benefits biostimulants offer in enhancing crop yield, quality, and resilience to stress factors such as drought, salinity, and disease. As research continues to validate the efficacy of biostimulants, their adoption is proliferating across different crop types and geographical regions.
Fostering Organic Farming Practices
The escalating demand for organic food products is propelling the expansion of organic farming practices globally. Biostimulants play a pivotal role in organic agriculture by offering natural solutions for nutrient management, pest control, and soil fertility enhancement, thereby further fueling market growth.
Liquid Formulation Dominates
Liquid biostimulants, holding the largest share in the market by formulation type, are witnessing increased demand owing to their efficacy and ease of application. Typically applied through foliar spraying, liquid biostimulants are gaining traction due to growing awareness about their benefits.
Seed Treatment Segment Shows Rapid Growth
Within the mode of application, the seed treatment segment is experiencing the highest growth rate. Biostimulant seed treatments offer a rapid and efficient solution to counteract environmental stress during sowing, enhancing yield from seed germination onwards.
Microbial Amendments Segment on the Rise
Among active ingredient types, the microbial amendments segment is projected to witness the highest growth rate. Beneficial fungi and bacteria play crucial roles in supporting plant health and growth, with mycorrhizal fungi notably enhancing nutrient and water uptake, thereby improving overall plant resilience.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1081
European Region Leads the Market
Europe leads the biostimulants market in terms of value, driven by its robust agricultural sector and the advocacy efforts of organizations like the European Biostimulants Industry Council (EBIC). Biostimulant usage in agriculture is rapidly expanding across various sectors, driven by its proven benefits in enhancing crop productivity and sustainability.
Key Players
Key players in the biostimulants market include BASF SE, UPL, FMC Corporation, Rallies India Limited, Sumitomo Chemical Co., Ltd., Corteva, Nufarm, Syngenta Crop Protection AG, PI Industries, ILSA S.p.A., Coromandel International Limited, Haifa Group, T.Stanes and Company Limited, Gowan Company, and Koppert.
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
