![Biostimulants Market](https://www.skyquestt.com/assets/frontend/images/upcoming_reports_cover_image.jpg)
Report ID: UCMIG30H2097
Report ID:
UCMIG30H2097 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The worldwide biostimulants market, with a 2022 value of USD 3.34 billion, is expected to expand significantly, reaching USD 7.97 billion by 2030, registering a noteworthy 11.65% compound annual growth rate (CAGR) during the forecast period, starting from USD 3.69 billion in 2023. In contrast, the global industry for inorganic fertilizers (primary nutrients) is experiencing more moderate annual growth rates, ranging between 1.3% to 1.8%. Key players in the market are directing their attention towards promising product categories, particularly specialty and organic fertilizers, due to the growth potential these segments offer. Simultaneously, agricultural producers are increasingly seeking products that offer enhanced nutrient content, versatility, and eco-friendly attributes, hinting at a bright future for the biostimulants market on a global scale.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Agricultural Products by segment aggregation, the contribution of the Agricultural Products in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30H2097