Biostimulants Market was worth USD xx million in 2021, and it is foreseen to reach USD xx million, developing with an annual progression rate (CAGR) of 10.9% between 2021 and 2026.

Biostimulants are additives or microorganisms of natural origin that are applied to crops to improve nutritional efficiency, tolerance to abiotic stress, and crop quality. This fertilizer is most useful in promoting the assimilation, transfer, and use of nutrients. Biostimulants are applied to seeds, soil, plants, and other substrates to stimulate natural processes in plants. Its objective is to develop the efficiency of the use of nutrients in plants. Biostimulants improve crop yield, quality, vitality, and resistance to abiotic stress.

They include various formulations of substances, microorganisms, and compounds that are applied to soil or plants. They favor plant development throughout the life cycle, from seed germination to crop maturation. Biostimulants differ from conventional pesticide solutions like pesticides and fertilizers. It works for the vitality of plants but is not designed for use against pests or diseases. They are applied to oilseeds and plants such as legumes, cereals and cereals, fruits and vegetables, lawns, and ornamental plants. There are several ways to apply biostimulants to plants, including foliar treatment, soil treatment, and seed treatment.

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Impact of COVID-19 on Biostimulants Market:

The agricultural industry has witnessed the worst impact of the Coronavirus, owing to the strict lockdown conditions that made labor go back to their hometowns and halt the activities for some period. This had a direct impact on the biostimulants market in terms of declined sales. However, the rising need for natural chemicals is supposed to boost the demand for biostimulants post-COVID-19.

Biostimulants Market Growth:

The biostimulants market is primarily driven by the increasing need to support crop growth due to strong market demand for high value-added crops around the world and abiotic stresses from changing weather conditions.

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Market Segmentation:

Biostimulants Market Based on the product:

The market is divided into amino acids, humic acids and fulvic acids, algae, vitamins, microbial stimulants, and biological rationality. In terms of revenue, the humic acid and fulvic acid segments held a significant market share in 2020.

Biostimulants Market By application:

The world market for biostimulants has been segmented into oilseeds and legumes, landscape, fruits and vegetables, grass, grains and cereals, and ornamental flowers. In terms of sales and volume, the fruit and vegetable segment had a significant share of the global market in 2020 is estimated to expand at a great pace during the projection period. The cereals and grain sector is also expected to expand significantly in this period.

Regional Analysis:

Europe dominated the global biostimulants market in 2020. This region is anticipated to create favorable opportunities in the near future. The application of strict regulations on the approval of pesticides in Europe, which cause the harmful effects of chemical-based agricultural products will drive demand for biostimulants. The growing need for organic food is expected to increase the demand for biostimulants in Europe between 2021 and 2027. During the prediction period, Germany led the biostimulants market in Europe, followed by France and Italy. The Asia Pacific region is expected to witness promising growth during the forecast period due to the presence of several agriculture-led economies such as India, China, and Australia. Asia Pacific countries vary widely in income levels, spending capacity, and food consumption habits. The agricultural sector in the region is showing steady growth and the population is highly dependent on the agricultural sector. This provides profitable growth opportunities for the biostimulants market.

Major Key Players:

Key players in the global biostimulants market include Arysta LifeScience, Biolchim S.p.A, Biovert SL, BASF, Stollerare, ILSA S.p.A, Italpollina, Bayer, Koppert B.V., Desarrollo Agrícola y Minero, and Agrichem.

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