Biostimulants Market Growth
In the past few years, the reduction of arable land prompted people to use bio-based crop protection chemicals to increase crop yield. In the past 50 years, due to the surge in population and erosion of soil, the availability of arable land has a significant decrease. Frequent plowing of fields and a rise in the usage of chemical-based fertilizers have led to soil degradation. In the near future, the growing population and its varying consumption patterns are likely to create substantial demand for food, thereby pressurizing the existing arable land resources. Biostimulants serve as an eco-friendly solution that not only improves the quality and quantity of the crop yield but also enriches the structure and nutritive value of the soil. Thus, the decline in the availability of arable land is anticipated to present significant opportunities to the global biostimulants market.
Among the products, the humic acid and fulvic acid segment will dominate the global biostimulants market during the forecast period. These products improve nutrient uptake, root growth, and crop tolerance to abiotic stress. Among the applications, the cereals & grains segment is anticipated to expand significantly during the forecast period. Biostimulants are widely employed in cereal and grain crops across the globe and at the same time, offer better germination and root development. Therefore, the crop yield increases in turn. With the increasing demand for organic products among customers, the demand for biostimulants is projected to increase during the forecast period.