According to the latest report by IMARC Group, titled “Biostimulants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global biostimulants market reached a value of US$ 2.1 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 10.5% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Biostimulants are microbe-based agricultural chemicals that promote the organic growth of a plant. They are produced from various active ingredients, like humic and fulvic acids, seaweed extracts, amino acids, vitamins, trace minerals, polysaccharides, and microbial amendments. Biostimulants improve nutrient availability, environmental stress tolerance, water holding capacity, metabolism, and chlorophyll production in the plant. They also help in enhancing the antioxidant properties, stimulating root development, and plant cell enlargement.
Market Trends and Drivers:
The expanding agriculture industry, growing demand for agricultural sustainability, and rising adoption of organic farming practices are primarily catalyzing the biostimulants market growth. It is widely being utilized in organic manure to improve soil fertility and plant health. Moreover, the growing concerns towards the adverse effects of chemically synthesized pesticides and fertilizers are further augmenting the market growth. Furthermore, the decline in the availability of fertile land and surging food consumption levels are also driving the product demand. Numerous innovations and increasing R&D activities in the field of agricultural sciences are further anticipated to drive the market.
Biostimulants Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the biostimulants market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the global biostimulants market on the basis of product type, crop type, form, origin, distribution channel, application, end user and region.
Breakup by Product Type:
Breakup by Crop Type:
Breakup by Form:
Breakup by Origin:
Breakup by Distribution Channel:
Breakup by Application:
Breakup by End-User:
Breakup by Region:
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Key Highlights of the Report:
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