Description

The Global biostimulants market size was estimated at USD 3294 Mn in 2021, growing at a CAGR of 12.1% during the forecast period 2021-2027. Biostimulants are the biologically derived or biological additives that are used in crop production in order to improve health, productivity and growth of plants by improving the efficiency of  nutrient use, helping the plants in tolerating the abiotic stresses such as cold, heat, drought and excessive water, helps to improve the quality attributes such as appearance, shelf life and nutritional content. Row crops like pulses oilseeds and cereals account for the larger share in cropped land and thereby these crop segments projects to cover a large scale of acreage for application of biostimulants. Governments of various regions and major players throughout the globe are adopting various growth strategies like collaborations, acquisitions, agreements etc. For instance, in 2011 June, European agriculture biostimulants industry consortium was formed with the motto of fostering biostimulants role in agriculture to improve yield with fewer resources, sustainable agricultural production, economic growth and green innovation were the other major aims. The Biostimulants Market is classified on the basis of type, crop, application and geography. Bayer Crop science acquired Agraquest in order to broaden its technology platform for the green products in 2012 and BASF acquired Becker Underwood in order to enhance its crop protection business in 2013.

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