The primary benefit of photosynthesis is that it allows plants, algae, and some bacteria to convert light energy into chemical energy. During this process, these organisms take in carbon dioxide and water, using sunlight to produce glucose and oxygen as byproducts. This process not only fuels the growth and energy needs of plants but also plays a crucial role in regulating the Earth's atmosphere by absorbing carbon dioxide and releasing oxygen. Thus, photosynthesis is fundamental to life on Earth and underpins the food chain and ecosystem stability.