The global for United Kingdom biostimulants Market is expected to reach US$ 476.2 million by 2033, with the global industry projected to experience a significant Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period.
The United Kingdom’s biostimulants market is witnessing significant expansion, driven in part by the growing number of farmers and horticulturists. Moreover, participation in agro-input certification programs such as the Assured Produce Scheme and the Soil Association Certification system has contributed to the increased sales of biostimulants. Additionally, innovative plant biostimulants tailored to specific agronomic needs are attracting new clients across Europe. These developments reflect a growing awareness and preference for sustainable and environmentally friendly agricultural practices in the region.
Biostimulants are used in horticulture and agriculture due to their wide potential applications and bright futures. Growing demand for environmentally friendly agricultural solutions in developing countries such as China and India creates a new market opportunity for biostimulant producers.
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Since food security and public health are closely related, all parties participating in the agri-food sector have sought to enhance sustainable food production. The largest phytopharmaceutical companies in Asia Pacific and Europe have intensified their production and research activities for natural products.
Lack of restrictions related to the product’s commercialization may impede the market’s development and expansion during the projection period. Growth is constrained by a lack of confidence in new products, a shortage of information about high-quality products, and a lack of clear regulatory.
In the majority of markets, the data requirements for the product are often obtained from those produced from synthetic substances. Similarly, there are still no well-established endpoints for risk evaluations despite the fact that these products have been used in commerce for years.
Key Takeaways in Biostimulants Market Research Report:
- The market for biostimulants increased at a 10.1% CAGR between 2017 and 2022, citing FMI’s study.
- The expansion in the UK is anticipated to expand at an adequate CAGR of 9.9% by 2033. The UK’s market is expected to generate a share of US$ 476.2 million by 2033.
- Based on active ingredients, the acid-based segment is expected to dominate the market with a CAGR of 10.6% by 2033.
- The adoption trends of biostimulants are predicted to change due to the rising demand for organic farming. As a result, the market is anticipated to increase positively by 1.09x between 2022 and 2023.
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Key Strategies in the Industry
The main factor of the market’s fragmentation is the growth of local players and regional marketplaces in various regions of the world. The two regions with the biggest market activity are North America and Europe.
UPL Limited, Biostadt India Limited, Isagro SPA, Valagro SpA, and Tradecorp International are a few of the leading businesses in the biostimulants market. For the purpose of expanding their businesses, these significant firms invest in new products, product improvement, expansions, and acquisitions.
Recent Developments
- A new line of biostimulant solutions based on GoActiv Technology was launched by UPL Australia in June 2021. These products are intended to target particular crop physiological “pain points” or abiotic stresses in fruit and vegetable, vine, and tree crops.
- Isagro Group acquired Phoenix Del in 2020 in order to increase the variety of copper-based fungicides and biostimulants it offers. The goal of this acquisition was to advance technology and transform the products in its “BioSolutions” section.
Key Segmentation
By Active Ingredient:
- Acid-Based
- Extract-Based
- Others (including Microbial Amendment, Trace Minerals, etc.)
By Crop Type:
- Row Crops
- Fruits & Vegetables
- Turfs & Ornamentals
- Other Crop Types
By Application:
- Foliar
- Soil
- Seed
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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