Seeds, plants, and soil can be given biostimulants, which are natural or synthetic substances. These compounds modify fundamental and structural processes in plants to improve tolerance to abiotic stresses and increase seed and grain output and quality. In addition, biostimulants reduce the need for fertilizers.
Increased Yield and Productivity and Greater Emphasis on Sustainable Farming to Boost Global Biostimulants Market Growth
Agriculture is critical to human well-being and the global economy's overall stability. Meeting future food demands and production requirements will be essential due to the growing global population. One of the innovations and technologies that has recently arisen in support of the agriculture business is the use of biostimulants to boost agricultural output.
Plant production increases when biostimulants are used since they help with nutrient uptake while also being environmentally friendly. Beneficial bacteria in biostimulants improve nutrient uptake, abiotic stress tolerance, and overall crop development. Over the forecast period, increased environmental health concerns are expected to contribute to the market's rise. Biostimulants are used in agricultural fields as an alternative to chemical input.
Increased mainstream agricultural support and sustainable agriculture techniques have resulted in more secure field deployment of biostimulants. Farmers who practice sustainable agriculture use fewer biostimulants, saving money, productivity, and the environment. Biostimulants in sustainable agriculture give new and commercially viable options for farmers, laborers, and consumers and solve various environmental and social concerns. This is one of the most significant growth drivers in the market under consideration.
Expansion of the Organic Food Industry to Open Up Lucrative Opportunities for the Global Biostimulants Market
Organic biostimulants are critical for the agriculture industry’s future to promote organic practices. Biostimulants can boost soil microorganisms, allowing for more efficient nutrient absorption. Others boost plants' antioxidant activity and resistance to environmental stresses and disease strain.
The global organic food industry is growing exponentially in response to the growing need for food security and the importance of safe farming practices. Organic food is preferred by many health-conscious consumers worldwide who want to avoid the harmful health effects of inorganic food's chemical preservatives and genetically modified ingredients.
Farmers are looking for better ways to use synthetic chemicals and mineral fertilizers to create healthy foods with minimal environmental impact. Biostimulants demand is growing as more organic food is cultivated without pesticides or fertilizers. As a result, demand for biostimulants increases as organic agriculture becomes more popular.
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A considerable difference between the number of workers needed and those available for biostimulant manufacturing resulted from a short-term labor shortage and distribution challenges. The absence of growers in large-scale plantations further impeded organic crop output. In preparation for countrywide lockdowns, organic growers were buying biostimulants in bulk or larger pack sizes to ensure a sufficient supply for later stages of plant growth. Additionally, there was a considerable decline in biostimulant supply since major online retailers such as Amazon and Walmart restricted or delayed deliveries due to COVID-19.
The global biostimulants market is dominated by Europe, with revenue expected to expand at a CAGR of 12.34% to USD 3,332 million by 2030. Germany is at the forefront of enhancing Europe's top priorities of intellectual growth and bio-based economic innovation. Biostimulants are an essential part of the process. Businesses manage unique agricultural demands and expand the use of biostimulants by focusing on high-value crops to more standard crops.
With a CAGR of 11.32% predicted to create USD 2,392 million in sales by 2030, the North American region accounts for the second-largest proportion of the global biostimulants market. The United States is a significant consumer of biostimulants in North America. From the start, the country has adapted to the use of biostimulants to improve agricultural output and vigor, particularly in the case of seed treatment.
Biostimulants are essential in the region due to a lack of rainfall. There is no or very little rain in the region during significant growing seasons. The demand for biostimulants is expected to rise shortly as they regulate plant development by increasing tolerance to abiotic stress.
Some of the key players in the global biostimulants market are UPL Corporation Limited, Isagro SpA, Agrinos AS (Ambac), Ilsa SpA, Biostadt India Ltd, Valagro SpA, Eastman Chemical Company, Lallemand Inc., Atlantica Agricola SA, Brandt Consolidated Inc., Italpollina SpA (Hello Nature), Koppert Biological Systems, Micromix Plant Health Ltd, and Omex Agrifluids Ltd.
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