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Rising Demand for Food Production Boosts Requirement for Biostimulants
According to P&S Intelligence, the global biostimulants market is expected to reach $7.81 billion by 2030.
By: P&S Intelligence
The global biostimulants market size stood at $3.0 billion in 2021, which is expected to reach $7.81 billion by 2030, advancing at a CAGR of 11.3% during 2021–2030. This is due to the promulgating demand for food coupled with the rising global population and the increasing hunger and malnutrition coupled with adverse climate changes. In addition, the overexploitation of natural resources by human activities, loss of biodiversity, and wastage of food are other factors driving the industry growth.
Abiotic stress massively impacts plant growth and productivity in modern times. It includes salinity, drought, and extreme temperatures that worldwide cause huge crop losses. Therefore, biostimulants are integrated into production systems to prevent such losses and modify the physiological processes of plants in order to improve productivity.
The precise application of biostimulants (https://www.psmarketresearch.com/
Biostimulants are different from conventional phosphorus, nitrogen, and potassium fertilizers. They contain a formula of organic compounds, including seaweed extracts, amino acids, humic acids, ascorbic acid, and other chemicals.
There are various raw materials used in biostimulant compositions, including algae extracts, hormones, humic acids, and plant-growth-
The major players operating in the industry are; BASF SE, Biolchim S.p.A., Arysta Lifescience Corporation, Koppert Biological Systems, Syngenta AG, Italpollina SpA, Valagro S.p.A., and Adama Agricultural Solutions Ltd.
Therefore, the rising demand for food production boosts the consumption of biostimulants.
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