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Biostimulants Market Size

Report ID: GMI1346
Published Date: Mar 2023
Report Format: PDF

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Biostimulants Market Size

Biostimulants Market size was valued at USD 3 billion in 2022 and is projected to witness 10.5% CAGR from 2023 to 2032. Driven by strong dependency on the agricultural sector for food products.

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The escalating necessity to improve the yield per hectare is primed to accelerate the market growth. Recent inclination towards healthy diets has boosted the uptake of plants and vegetables, which has favored product penetration in the agriculture sector. Moreover, the strong emphasis of companies on enhancing the performance of biostimulants to improve the shelf-life of food products has aided the expansion of the customer base

In addition, the soaring use of biostimulants to reduce abiotic stress is also fueling the biostimulants market demand. As external factors, including global warming, climatic scenarios, and land fertility, hinder the growth of plants, the demand for biostimulants has increased drastically.

Biostimulants Market Report Attributes
Report Attribute	Details
Base Year:	2022
Biostimulants Market Size in 2022:	3 Billion (USD)
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10.5%
2032 Value Projection:	9.5 Billion (USD)
Historical Data for:	2018 to 2021
No. of Pages:	501
Tables, Charts & Figures:	480
Segments covered:	Active Ingredients, Crop, Application and Form
Growth Drivers:	Increasing necessity to improve the yield per hector Rising Precision farming practices Use of biostimulants to reduce the abiotic stress Positive impacts of biostimulants on-farm profitability
Pitfalls & Challenges:	High R&D costs Lengthy approval process Higher demand for synthetic fertilizers

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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for Biostimulants was valued at more than USD 3 billion in 2022 and is set to progress at over 10.5% CAGR over the next 10 years owing to the rising popularity of precision farming and the strong dependency on the agricultural sector for food products.

The foliar treatment application segment reached a valuation of more than USD 2.5 billion in 2022 the mounting food consumption and the rising need to improve farm yield which in turn is encouraging producers to utilize biostimulants in enhancing crop yield efficiencies.

The acid-based segment was valued at more than USD 1.5 billion in 2022 as a result of lower processing costs and easy availability of active ingredients that are used in biostimulants.

North American market for biostimulants is set to depict more than 10% CAGR from 2023 to 2032 on account of burgeoning awareness regarding the benefits of biostimulants in weeds, diseases, and stress resistance as well as for improving yield efficiency.