Biostimulants are agricultural compounds derived from microbes used to accelerate organic plant development. Humic and fulvic acids, seaweed extracts, amino acids, vitamins, trace minerals, polysaccharides, and microbial amendments are the active substances used in their production. They are used to improve nutrient availability, tolerance to environmental stresses, water holding metabolism, capacity, and chlorophyll production in cereals, grains, fruits, vegetables, oilseeds, and other plantation crops by applying them to the soil, seed, or leaves of cereals, grains, fruits, vegetables, oilseeds, and other plantation crops. They also stimulate root development and cell expansion in the plant and increase antioxidant activity.
One of the primary drivers driving market expansion is the thriving agriculture business and the increasing adoption of organic farming practices. Biostimulants are increasingly used with organic manure to promote soil fertility and plant health, owing to growing concerns about agricultural sustainability, soil health, and environmental safety. Consumer knowledge of the negative impacts of chemically manufactured pesticides and fertilizers is also helping to drive market expansion. Biostimulants have a low environmental impact, are non-toxic, and do not pollute the soil, contributing to their widespread use. Another growth-inducing aspect is the rising demand for food due to the fast-growing world population and the limited supply of cultivable land. Biostimulants help increase crop productivity, which helps fulfil the world's ever-increasing food needs.
The organic food business, which is expanding healthy, is the primary driver of the biostimulants market expansion. Another factor boosting the market's growth is increased farmer knowledge of the benefits of biostimulants, particularly in the Asia-Pacific region.
In addition, the global Biostimulants Market Outlook Size is anticipated to reach USD 6.65 billion by 2030, registering a CAGR of 11.41% during 2022-2030.
According to the latest market analysis report, the global market has been segmented into active ingredients, crop types, application methods, and regional basis. The market has been divided into five sections with the active ingredient section: humic substances, seaweed extracts, microbial amendments, amino acids, and others. The biostimulants market has been divided into the crop sections fruits & vegetables, cereals & grains, oil seeds & pulses, and others. According to the regional basis, the market is divided into five sections: Asia-Pacific, North America, South America, Europe, and the Middle East & Africa.
Europe is the market's largest and fastest-growing geographical segment, with the greatest CAGR forecasted for 2021. Europe's rigorous environmental legislation and support for organic farming have prepared the path for a thriving biostimulants market in nations like Germany, Italy, the United Kingdom, Spain, and France. Over the last few years, major modifications have been made to regulating crop inputs in Spain. Fertilizers must be monitored before being sold, according to the new legislation. Other plant protection measures, including most bio stimulants, can be sold without prior registration. Furthermore, plant biostimulants that address specific agronomic demands are drawing new clients throughout Europe.
Some of the key players in the global biostimulants market insight are BASF SE(Germany), Krysta Life Science Limited (Japan), Sapec Group (Trade Corporation International), Isagro S.P.A (Italy), Valagro S.P.A (Italy), Koppert B.V. (The Netherlands) and Italpollina (Italy).
Agro Inputs Manufacturers Association of India (AIM) has welcomed the inclusion of biostimulants in the Fertiliser Control Order but demanded that the Government allow MSMEs to submit pooled data collected by the association for the registration process and enable them to carry on their business.
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