Global Biostimulant Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Active Ingredient Coverage, By Application Coverage, By Crop Type Coverage, By Geographic Coverage and Leading Companies)
Published Date: Oct 2023 |
Format:
| No. of Pages: 210
BASF SE, Syngenta, FMC Corporation, Agrinos, Humintech, AXEB Biotech, and Biolchim are some of the biggest names steering the competitive landscape of the worldwide biostimulant industry.
By active ingredient, seaweed extracts continue to represent the top-performing segment of the market. By application, the foliar segment continues to be the largest category in the global biostimulant market. By region, Europe is presently the leading revenue generating pocket.
The global biostimulant market size is worth around US$2.9 Bn as of 2022. By the end of 2030, the expected value CAGR of the market is 7.8%.
The primary factor projected to drive the revenue growth of the global biostimulant market is the consistently increasing government support, and the thriving organic farming boom.
The rise of precision agriculture, and growing integration of IoT are transforming the biostimulant market by enabling the precise, data-driven application of biostimulants. IoT devices and sensors serve to monitor soil conditions, plant health, and weather, allowing farmers to optimise the use of biostimulants for their maximum effectiveness.
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