The North American biostimulants market was expected to be valued at USD 487 billion in 2023 and is anticipated to reach USD 541.98 million in 2024 from USD 1275.36 million by 2032, growing at a CAGR of 11.29% from 2024 to 2032.
The biostimulants promote plant development in a number of established ways throughout the crop lifespan, from seed sprouting to crop maturity. They enhance the plant’s capability to integrate nutrients and properly grow.
Biostimulants improve soil quality and enhance product quality, thereby generating better profits for crop cultivators and providing healthier foods for customers. Healthy soil grasps water more effectively and is more resilient to erosion. Biostimulants also help in tackling some of the most important challenges that world agriculture currently faces.
The growth of the North America Biostimulants market is majorly due to factors such as growing awareness among farmers, mounting food demand due to an increasing population, and government subsidies. Biostimulants are gaining increasing importance in the agriculture sector due to their environmental-friendly and organic character. However, factors such as volatile economies and high R&D costs involved in this field are impeding the growth of the market in this region.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
11.29% |
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Segments Covered |
By Active Ingredients, Application, Crop Type, and Country |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
The U.S, Canada, Mexico, and the Rest of North America |
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Market Leaders Profiled |
BASF SE, Biostadt India Limited, Valagro SpA, Novozymes A/S, Biolchim SpA, Isagro SpA, and Koppert B.V. |
In this segment, humic acids and fulvic acids lead the market for Biostimulants, accounting for more than 30% of the market.
The foliar application technique is the most favored for biostimulant supply, as it delivers ingredients much more directly.
Cereals & Oilseeds lead the market on the basis of Crop Type and this trend is expected to remain the same during the forecast period.
The growth of the market in this region is reinforced by the increasing demand to step up the output of food crops such as oilseeds and sugarcane, which have various applications such as feed, fuel, and other industrial uses. Biostimulants not only boost crop growth during severe conditions in these regions but also increase crop return and quality. Farmers in this region prefer biostimulants instead of synthetic stimulants, as the former not only enhances crop yield but also improves land fertility, while the latter may damage land fertility at the price of enhancing crop yield.
Important strategies such as product expansions and investments have been implemented by the key players in the biostimulants industry. These companies are improving their capabilities by diversifying their commercial operations across high-growth markets with efficient distribution systems. The major companies dominating the Biostimulants market in this region are BASF SE, Biostadt India Limited, Valagro SpA, Novozymes A/S, Biolchim SpA, Isagro SpA, and Koppert B.V.
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