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The biostimulants market is estimated at USD 3.9 billion in 2023 and is projected to reach USD 6.8 billion by 2028, at a CAGR of 11.8% from 2023 to 2028.

Biostimulants have emerged as key players in the agriculture sector, fostering sustainable and efficient crop production. As the global population continues to grow, the demand for food surges and traditional farming methods face challenges. Biostimulants, with their ability to enhance plant growth, improve nutrient uptake, and mitigate environmental stress, are becoming integral components of modern agricultural practices. As consumer preferences are shifting towards organic and sustainably produced food. Biostimulants play a crucial role in organic farming by providing an alternative to conventional chemical inputs, contributing to the overall growth of the organic farming sector.

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BASF SE (Germany)

BASF SE is a prominent player in the chemical industry, boasting diversified business segments such as nutrition & care, materials, chemicals, agricultural solutions, industrial solutions, and surface technologies. Within these sectors, the company offers a comprehensive range of products including intermediate chemical products, monomers, petrochemicals, dispersions & pigments, care chemicals, nutrition & health, paper chemicals, performance chemicals, catalysts, construction chemicals, coatings, performance materials, and crop protection products. Notably, its agricultural solutions unit focuses on delivering biostimulant products. BASF SE maintains a robust global presence, operating in over 90 countries through subsidiaries and joint ventures. With six integrated production sites and an additional 355 production sites distributed across Europe, Asia, Australia, the Americas, and Africa, the company demonstrates its commitment to delivering a diverse portfolio of products and solutions on a global scale.

UPL (India)

UPL is a leading company that provides comprehensive solutions for crop management to ensure a secure food supply. The company is organized into agro and non-agro activities. Within the agro activities segment, UPL further categorizes its offerings into seeds, crop protection solutions (including biostimulants), bio-solutions, post-harvest solutions, aquatics, farmer engagement, and other related businesses. UPL operates globally, with a presence in over 130 countries and 48 manufacturing plants. An essential component of UPL's business strategy involves strategic acquisitions to strengthen its market position. As an illustration, in February 2019, the company successfully completed the acquisition of Arysta LifeScience, a move aimed at expanding UPL's biostimulants portfolio.

FMC Corporation (US)

FMC Corporation is a provider of innovative solutions to growers, focusing on crop protection, plant health, professional pest control, and turf maintenance. Previously, the company operated under three business segments: agricultural solutions, health & nutrition, and lithium. Notably, the agricultural solutions segment contributed approximately 69% to the company's consolidated revenue. In November 2017, FMC Corporation underwent a significant transformation by acquiring DuPont's crop protection business and divesting its health and nutrition business to DuPont. This restructuring resulted in two active business segments: agricultural solutions and lithium. The current focus areas within these segments include herbicides, fungicides, plant health, and insecticides. With operations spanning across North America, Europe, South America, the Middle East, and Asia Pacific, FMC Corporation primarily concentrates its sales efforts in Europe, North America, and Asia.

Ralles India Limited (India)

Ralles India Limited, a TATA Enterprise and a subsidiary of Tata Chemicals, operates within the Farm Essentials vertical and is recognized as one of India's foremost crop care companies. With a notable presence in manufacturing urea and phosphatic fertilizers, the company's core business segments encompass crop care and seeds within the crop protection domain. Biostimulants constitute a significant aspect of the crop care segment, underscoring the company's commitment to delivering solutions that boost crop yield, safeguard against diseases, and enhance overall quality.

Rallis India Limited boasts manufacturing facilities spanning four locations, capable of producing over 10,000 million tons (11,023 11 million tons) of technical-grade pesticide and approximately 30,000 tons/liters of formulations annually. The company's dedication to innovation is evident in its formulations, and this is reinforced by the robust research and development capabilities of the Tata Chemicals Innovation Centre. The center excels in emerging fields such as nanotechnology and biotechnology, further contributing to the advancement of Rallis India Limited's product offerings.

ADAMA Ltd (Isreal)

ADAMA Ltd, a result of the merger between ADAMA and Hubei Sanonda Ltd, stands as the world's largest crop protection company. Operating in 100 countries worldwide, the company is dedicated to providing a diverse range of products, including biostimulants, insecticides, herbicides, fungicides, plant growth regulators, and seed treatments. Biostimulants, a part of the company's crop protection segment, are a key focus in its portfolio.

With a global presence spanning over 40 countries, ADAMA Ltd leverages seven product development centers and 21 production sites to offer a comprehensive lineup of more than 270 active ingredients. The company's commitment to reaching growers globally underscores its position as a major player in the crop protection industry.

Related Reports:

Biostimulants Market by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Flowers & Ornamentals), Active Ingredients (Humic Substances, Seaweed Extracts), Form (Dry, Liquid), Mode of Application and Region - Global Forecast to 2028

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