According to a new report published by K D Market Insights, titled, “Biostimulants Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global biostimulants market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing recognition of biostimulants' benefits in enhancing crop productivity and quality, promoting sustainable agricultural practices, and addressing environmental challenges which are the major factors augmenting the growth of the global biostimulants market. The global biostimulants market is anticipated to grow at a high CAGR of 11.6% from 2023 to 2032. The market's revenue surged to $3.5 billion in 2022, and it is expected to further accelerate, reaching a notable $10.4 billion by 2032.

Biostimulants play an important function in this undertaking by way of promoting plant health, enhancing plant suitability, and improving crop resilience against stress, which is further expected to create ample growth opportunities for the global biostimulants market during the forecast period i.e., 2023-2032. Moreover, consumers emerge as an increasing number of conscious of health and environmental concerns, there's a surging demand for organic food products, has propelled market expansion. Increasing awareness of biostimulant benefits, is expected to contribute towards the market growth during the period.

The North America region accounted for the largest share in the global biostimulants market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the increase in land degradation, the need for quality parameters, and the need for high product yield.

According to mode of application, the foliar treatment segment accounted for the largest market share in the biostimulants market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.

The global biostimulants market is segmented into active ingredient, crop type, mode of application and region. Based on active ingredient, the market is bifurcated into seaweed extracts, amino acids, humic substances, microbial amendments, other active ingredients. Based on crop type, it is classified into row crops & cereals, fruits & vegetables, turf & ornamentals, others. Based on mode of application, it is classified into foliar, soil treatment, and seed treatment.

The global biostimulants market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Biostimulants Market

• On the basis of mode of application, the foliar treatment segment accounted for the largest market share in the biostimulants market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
• On the basis of region, Europe accounted for the largest share in the global biostimulants market in 2022. The region is further projected to continue dominating in the market during the forecast period.
• On the basis of region, North America is estimated to account for the second largest share in the market during the forecast period.

Some of the major biostimulants companies profiled in the report include BASF SE, AgriTecno, Koppert Biological Systems, Gowan Company, FMC Corporation, Rallis India Limited, Haifa Group, Trade Corporation International, Biovert S.L, Adama Ltd., UPL Limited.

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