Agricoltura
Biostimulants Market to Surpass US$ 6,375.3 Million by 2030 - Coherent Market Insights
Surging demand for bio-based agri-inputs is trending in the global . The production of organic food and feed products is growing all over the world without any use of good fertilizers causing harmful side effects. The use of bio-based and organic compounds is increasing in forestry and agriculture. As per the Agricultural and Processed Food Products Export Development Authority (APEDA), Australia had 36.92 million hectares of agricultural land under organic certification in 2021. The growing initiatives from governments and other stakeholders on sustainable and organic farming methods is driving growth of the market.
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Global Biostimulants is expected to surpass and is anticipated to witness a during the forecast period 2023-2030, owing to rise in demand for organic farming and high-value crops with growing awareness among consumers around environmental and health benefits of these products.
On the basis of Application, Foliar segment is expected to hold a dominant position, owing to increasing demand owing to its benefits.
On the basis of Crop Type, Raw Crops segment is expected to hold a dominant position, owing to expanding application and cultivation of raw crops.
On the basis of Active Ingredients, Extract Based segment is expected to hold a dominant position, owing to the rise in demand for extract based ingredients such as seaweed.
On the basis of region, Europe is expected to hold a dominant position over the forecast period, due to government initiatives promoting use of organic food production, and increasing demand for rapeseed production in various applications in countries such as Germany .
Key players operating in the Biostimulants market include
In January 2023 , Archer Daniels Midland Company introduced a NeoVita 43 biostimulant that increases the corn yield by increasing efficiency in nutrient use.
In March 2022 , Valagro introduced Talete, its innovative bio-stimulant product in India . The new product aims at boosting crop water productivity which further helps in growth of business in the country.
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