Europe is the largest and fastest growing segment of the market studied and is growing at a CAGR of 12.3% in 2020
The global bio stimulant market (henceforth referred to as the market studied) was valued at USD 2,638 million, in 2020 and is projected to reach USD 5,040 million by 2026 , registering a CAGR of 11. 71% during the period of 2021-2026.
April 15, 2021 12:49 ET
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ReportLinker
ReportLinker
Lyon, FRANCE
New York, April 15, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biostimulant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06062823/?utm_source=GNW
As a result of the recent COVID-19 pandemic, the supply and demand got poorly hit and this has led to reduced demand for the products in the market. Most of the biostimulant plants and companies were allowed for operation as they were deemed as an essential business in the United States. Therefore, companies were able to continue manufacturing products. However, the pandemic did affect the market dynamics in terms of demand falling off for some crops in the wake of the virus.