What is the future of the biostimulants market?
Aiming to facilitate the agroecological transition, the biostimulants market has experienced impressive growth over several years. This growth particularly contributes to improving plant nutrition and soil health, resulting in better quality production and stable yields despite climatic challenges.
With ongoing development, the biostimulants sector is promising and is seeing numerous innovations that will eventually provide consumers with healthier and more sustainable food to maintain their health. Addressing the needs of farmers and agricultural distributors who constantly seek new technologies to reduce chemical usage and achieve more sustainable farming, the biostimulants market is a truly thriving industry that brings together many players.
According to a study by World Fertilizer Magazine published in October 2022, the global biostimulants market is expected to reach 6.5 billion USD by 2028. This forecast indicates significant growth and helps to outline clear trends. Moreover, in the coming years, the biostimulants market should achieve a growth rate of up to 11% thanks to research and development of innovative products showcased at the World Biostimulants Congress.
Note that from a legal perspective, biostimulants were classified under the family of Fertilizing materials and growing media (MFSC) by a European regulation in 2019. This new regulation came into force in 2022, leading to an increase in the rate of application of biostimulants and the evolution of regulations on other continents. This information once again highlights the promising potential of this complementary and alternative solution to fertilizers and pesticides.