The Business Research Company’s Biostimulants Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, August 6, 2021 /EINPresswire.com/ — There is an increased focus on sustainable agriculture due to deteriorating factors such as soil degradation, water scarcity, climate change, and the burden to produce high crop yields to meet the demand. In sustainable agriculture, the use of artificial products like fertilizers and pesticides is prohibited since it degrades soil and harms the environment. Biostimulants, on the other hand, increase the simulation power of the plants to absorb nutrients and help in handling the abiotic stress. The United Nations sustainable development goals for 2030 have a special focus on sustainable agriculture. The use of biostimulants helps grow various crops under stress conditions, supporting sustainable agriculture, and thereby drive the agricultural biostimulants market or the plant biostimulants market.
Companies in the biostimulants market are coming up with innovative products to meet the demand and requirements of the customers and have an edge over the competitors. Mainly, start-ups are entering the market with new products. Futureco Bioscience, a Spanish agro-biotechnology company, has come up with Radisan in May 2019. It strengthens the roots and general structure of the plant. In February 2019, Italpollina, an Italy-based biotechnology solution provider for agriculture has introduced Tandem, which develops the roots and also strengthens the plant’s resistance against harsh conditions.
Major players covered in the global biostimulants market are BASF, Bayer CropScience, Novozymes A/S, Koppert Biological Systems, Verdesian Life Sciences, Lallemand Plant Care, Valagro, Syngenta, Novozymes A/S, Valagro SpA, Isagro S.p.A., Agrinos, Biolchim SPA, Premier Tech Ltd., Agriculture Solutions Inc., West Coast Marine Bioprocessing Corp., Italpollina S.p.A, Agricen, UPL, Koppert Biological Systems, Kelp Products International, Haifa Group.
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The global biostimulants market size is expected to grow from $2.36 billion in 2020 to $2.88 billion in 2021 at a compound annual growth rate (CAGR) of 22%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.82 billion in 2025 at a CAGR of 14%.
TBRC’s biostimulants market report is segmented by chemical origin into natural, biosynthetic; by active ingredient into humic-based biostimulants market, fulvic acid, amino acids, protein hydrolysates, seaweed extracts, others; by application into foliar, soil, seed, others.
Biostimulants Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides biostimulants global market overview, forecast biostimulants global market size and growth for the whole market, biostimulants global market segments, and geographies, biostimulants global market trends, biostimulants global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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