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The biostimulants market size is predicted to reach USD 6.69 billion by 2029 and exhibit a CAGR of 11.43% during the forecast period. “Biostimulants Market Size, Share & COVID-19 Impact Analysis, By Source (Microbial and Non-microbial), By Active Ingredient (Seaweed Extracts, Humic Substances, Vitamins & Amino Acids, Microbial Amendments, and Others), By Application (Foliar Application, Soil Treatment, and Seed Treatment), By Crop (Row Crops, Fruit and Vegetables, Turf & Ornamentals, and Others), and Regional Forecast, 2022-2029”, observes that the market size stood at USD 2.85 billion in 2021 and USD 3.14 billion in 2022.
Corteva Agriscience Launched Utrisha N
In November 2021, Corteva Agriscience introduced Utrisha N, the first nutrient efficiency biostimulant, which gives Canadian farmers a naturally derived biological tool to efficiently control their nitrogen investment, reduce their carbon footprint, and provide nitrogen to crops all season long.
Natural Crop Protection & Nutrition Products to Boost Market Growth
Food security and public health are inextricably linked, and there are global efforts by all agri-food industry stakeholders to ensure sustainable food production has been concretized. The major phytopharmaceutical companies in Europe and Asia Pacific have increased their product R&D and production activities. However, the biostimulants market growth will be hampered by lack of awareness and availability of quality products, lack of trust in new products, and dearth of stable regulatory and supporting policies for networks.
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Major Companies Launch New Products to Obtain the Highest Market Share
Market participants have recognized biostimulants’ future growth potential. They are constantly working to innovate and launch products in the market to establish their dominance.
Key Industry Development-
List of Key Market Players:
Further Report Findings-
The biostimulants market share in Europe is rapidly expanding as a result of the government's increased emphasis on the use of sustainable farming substances, tools, and methods, as well as several biostimulants promoting councils in the region. The agricultural regulatory framework in the European Union is becoming more receptive to environmental concerns, encouraging the development of novel eco-friendly and sustainable models, systems, and practices that allow the plant to make the best use of its resources.
Table of Segmentation
Value (USD Billion)
By Active Ingredient