Biostimulants Market is projected to reach USD 6.2 billion by 2027

The global biostimulants market is estimated to be valued at USD 3.5 billion in 2022. It is projected to reach USD 6.2 billion by 2027, recording a CAGR of 11.8 % during the forecast period. The biostimulants market is projected to grow at an exponential rate due to factors such as the rise in demand for sustainable agricultural practices, growing world hunger, favorable government regulations, an increase in demand for high-value crops, and a rise in the number of investments from key players in this market. Biostimulants can be applied in several ways, of which foliar spray is the most widely accepted application mode across the globe. However, nanoencapsulation technology and application advantages associated with seed treatment have been gaining importance in recent times for biostimulants across the globe.

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Conventional farming has been heavily criticized for causing biodiversity loss, soil erosion, and increased water pollution due to the rampant usage of synthetic fertilizers and pesticides. Organic farming is widely considered a far more sustainable alternative when it comes to food production. The lack of pesticides and a wider variety of plants enhances biodiversity, improves soil quality, and reduces fertilizer or pesticide run-off pollution. Some major adopters of organic farming include Australia, Argentina, China, and Spain. To produce organic food products, different methods are adopted selection of pest-resistant varieties, suitable rotations, green manure, balanced fertilization, usage of humic-based biostimulants, early planting, mulching, cultural, mechanical & biological control measures, and disturbance in pest life cycles is the basis of pest management programs, which is used in organic farming. Biostimulants find an important usage in organic agriculture revolution.

Key players in the biostimulants market include BASF SE (Germany), UPL (India), Valagro S.p.A (Italy), Gowan Group (US), FMC Corporation (US), ILSA S.p.A (Italy), Rallis India Limited (India), Haifa Group (Israel), Adama Ltd. (Israel), Biovert-Manvert (Spain), Koppert (Netherlands), Trade Corporation International (Spain), and AgriTecno (Spain).

"Europe is estimated to account for the largest share in 2021 with a CAGR of 11.5%."

According to the European Environment Agency, the agricultural sector occupies a significant share of the land in Europe. Small farms characterize Europe with intensified farming systems and the cultivation of various crops. The strong agricultural sector of the region makes it one of the leading consumers of biostimulants.

The key players in the European biostimulants market include BASF SE (Germany), Valagro S.p.A. (Italy), Biovert S.L (Spain), Koppert Biological Systems (Netherlands), Tradecorp International (Spain), and AgriTecno (Spain). The European markets have a basic or minimal regulatory framework for biostimulant products. Due to this, numerous start-ups are emerging in the market, especially in Spain and Italy. However, according to a primary insight, the region will soon establish a proper regulatory framework to ensure the best products are provided in the markets.

Biostimulants are natural or biologically derived substances that promote plant growth, enhance nutrient uptake, and improve stress tolerance in crops. As global agriculture faces the challenges of feeding a growing population while minimizing environmental impact, the future of biostimulants is becoming increasingly significant in sustainable agricultural practices.

One of the key drivers of the future of biostimulants is the growing awareness and demand for eco-friendly agricultural solutions. Biostimulants offer a viable alternative to synthetic fertilizers and chemical growth enhancers, reducing chemical runoff and soil contamination. As consumers and policymakers prioritize sustainability and environmental stewardship, biostimulants are expected to witness increased adoption in conventional and organic farming systems alike.

Advancements in biotechnology and bioinformatics are also shaping the future of biostimulants. Researchers are delving deeper into understanding the molecular mechanisms behind biostimulant action, enabling the development of more targeted and effective products. Tailoring biostimulants to specific crop varieties and environmental conditions enhances their efficiency, leading to improved crop yields and quality.

Furthermore, the integration of biostimulants with precision agriculture technologies offers exciting prospects. Smart farming practices, such as remote sensing and data analytics, can help optimize biostimulant application by identifying areas of the field that would benefit most from these products. This precision approach not only enhances resource efficiency but also contributes to sustainable farming practices.

Regulatory support and standardization will be essential in shaping the future of biostimulants. As the industry continues to grow, clear guidelines and definitions for biostimulants will ensure product quality, efficacy, and consumer confidence.

In conclusion, the future of biostimulants is promising, with their role in sustainable agriculture becoming increasingly crucial. As the agriculture sector seeks solutions to address food security and environmental challenges, biostimulants offer a sustainable and effective approach to support global agricultural needs while safeguarding the planet's natural resources.

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