The global market for biostimulants was USD 2.9 billion in 2020 and is anticipated to reach USD 5.9 billion by 2027, witnessing a CAGR of 12.3% during the forecast period 2021-2027. Biostimulants are naturally derived additives or microorganisms used in crops to increase crop production and cultivation so as to enhance nutritional efficiency, crop quality, and maintain soil quality. They are used to improve the stress tolerance level of plants and crops specifically in times of drought.

Global food and agricultural production systems are facing certain challenges owing to rising demand for food due to increasing population, growing hunger and malnutrition, adverse climate change, soil degradation, overutilization of natural resources, loss of biodiversity, loss of food, and waste. With the prospering agriculture industry and rising adoption of organic farming practices, biostimulants are significantly adopted coupled with organic manure to enhance soil fertility and plant health. Furthermore, the rising demand for sustainably produced food has less concentration of synthetic chemicals and a high concentration of biologicals, resulting in the need for biostimulants.

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Europe is anticipated to have the highest market share in the global biostimulants market as it has a high focus on agricultural sustainability and the rising advancement of innovative products. Spain, Italy, and France are the major drivers and exporters for biostimulants to the markets globally. Moreover, supportive regulations to enhance the production of organic foods will propel the growth of the biostimulant market in the region.

Asia-Pacific is expected to have the fastest growth as it has many agriculture-driven economies like India, Australia, China. The population is dependent on the agriculture sector resulting in providing opportunities for growth in the region.

Valagro manufactures a unique biostimulant line that provides farmers with a product line containing purely naturally derived active ingredients that stimulate the plant's major physiological processes while promoting plant growth and productivity.

FMC Corporation is an agricultural science company that offers innovative solutions to farmers around the world with a rapid product portfolio that leverages a market-driven R & D in crop protection, plant health, professional pest, and turf management. FMC product Accudo® biostimulant, a microbial innovation will lead to a yield increase of over 15%. It improves root development and has antifungal resistance, resulting in significantly higher yields compared to competing products.

Some of the key players operating in the biostimulants market: BASF SE, UPL, Valagro, Gowan Company, FMC Corporation, ILSA S.p.A, Rallis India Limited, Haifa Negev technologies LTD, EuroChem Group, and Bayer AG.

Source: VynZ Research