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COVID-19 Impact on Plant Biostimulant Market 2020 Recent Developments, Major Regions, Top Players, Opportunities In Future

Biostimulants are biologicallary produced fertilizers that are used to stimulate plant development and productivity, in addition to the nourishment of agrarian products. A biostimulant boosts plant development and growth throughout the crop life cycle, i.e., from seed germination to plant maturity. These fertilizers further help in facilitating nutrient translocation, assimilation, and use; and enhance soil fertility mainly by stimulating the development of interdependent soil microorganisms.

The global biostimulants market is expected to decline from $2.56 billion in 2019 to $2.46 billion in 2020 at a compound annual growth rate (CAGR) of -3.74%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.45 billion in 2023 at a CAGR of 11.9%.

Get Sample PDF (including COVID19 Impact Analysis) of Market Report @ https://www.databridgemarketresearch.com/covid-19-insights/covid-19-impact-on-biostimulant-in-the-agriculture-and-animal-feed-industry

Succinct Description of the Market:

Biostimulants are the products which can enhance life of plants in terms of the growth and productivity. It has the capability to increase stress tolerance of plant that may be in terms of disease or drought. With the use of biostimulant products, plants capacity to absorb water increases and it leads to better plant growth. The biostimulants products are found to be filling the gap between bio-fertilizers and pesticides as it can help the plant in both activities. Demand for biostimulants has increased in recent years. The organic farming is increasing worldwide due to people lifestyle change and need for high quality food products. Biostimulant products are found to be a better solution in organic agriculture sector. For instance, according to Research Institute of Organic Agriculture FiBL, it has been estimated that 181 countries have adopted organic agriculture worldwide in the year 2017.

Key Market Segmentation

Market Breakup by Product Type

• Acid-based
• Extract-based
• Others

Market Breakup by Crop Type

• Cereals and Grains
• Fruits and Vegetables
• Turf and Ornamentals
• Oilseeds and Pulses
• Others

Market Breakup by Form

• Dry
• Liquid

Market Breakup by Origin

• Natural
• Synthetic

Market Breakup by Distribution Channel

• Direct
• Indirect

Market Breakup by Application

• Foliar treatment
• Soil treatment
• Seed treatment

Market Breakup by End-User

• Farmers
• Research Organizations
• Others

Market Breakup by Region

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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A Brief of The Regional Landscape:

Information regarding a deep assessment of the regional area of the Biostimulant market is present in the report. The current market scenario, revenue statistics of the market and sales rate that each firm is expected to attain during the forecast period is further given in the report. The revenue share hold by different geographies at present condition is given in the report. Additionally, the growth rate that each region depicts over the predictable timeline from 2019 to 2025 has been determined in this report. Further, information regarding the consumption volume, consumption value, import as well as export patterns are provided in the document.

Access Full Report @ https://www.databridgemarketresearch.com/covid-19-insights/covid-19-impact-on-biostimulant-in-the-agriculture-and-animal-feed-industry

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