Global Biostimulants Market Analysis by Active Ingredient, Application, Crop, Form, Region and segments forecast till 2033

Market Overview

The global biostimulants market is presently worth USD 3,080 million and is poised to amplify at a CAGR of 10.4% over 2023-2033, thereby amassing a valuation of USD 6,790 million by end of the forecast period.

Report Scope

Global Biostimulants Market- Description

Biostimulants are referred to as a wide array of substances used to increase plant growth. These substances are generally made of bioactive compounds such as amino acids, humic-fulvic acids, hormones, and algae extracts. Biostimulants are equipped with the ability to enhance soil health and optimize nutrient use, thereby ensuring health crop or plant growth without the use of fertilizers. The escalating demand to enhance yield per hector, increase in precision farming practices, and growing instances of soil degradation are the major factors influencing the progression of this business vertical.

Furthermore, rising awareness regarding the long-term effects of artificial chemicals or fertilizers used to induce plant growth is creating lucrative opportunities for the marketplace to prosper. Alongside, widespread advancements in the agricultural sector, growing instances of natural resource exploitation, and increasing hunger and malnutrition are positively swaying the industry dynamics.

Also, increasing need for sustainable agriculture for environmental protection and surging R&D activities in the field are creating an upward trend for the market. Besides, shifting cultivator inclination towards the integration of protein-rich regulators in typical farming practices is adding momentum to the development of this market.

Moreover, ability of biostimulants from reducing abiotic stress in plants including droughts, extreme climate, floods, and unfavorable salinity is augmenting the outlook of this industry vertical. On the contrary, stringent approval norms and high R&D costs pertaining to these substances are limiting the remuneration scope of this business sphere.

Global Biostimulants Market: Key Trends

·         Rise in Technological Innovations for The Production of Biostimulants to Boost Market Expansion

The integration of advancement technologies to boost the production of biostimulants has enabled manufacturers to develop products in the plant growth promoter domain. segments. Since biostimulants are used in all the segments of the agricultural sector including food crops, fruit crop along with plantation and ornamental crops. Hence availability of advanced products in the field in increasing the demand across the globe.

·         Growing Need for Sustainable Agriculture to Stimulate Industry Dynamics

There has been a steep rise in the instances of ecological exploitation. The use of chemical fertilizers has a major contribution in the increasing pollution levels and deteriorating health condition of humans and animals. Therefore, the adoption of biostimulants for farming practices can ensure plant growth is a sustainable and efficient manner without harming the environment. This is turn is adding traction to the expansion of this market.

Global Biostimulants Market: Segmental Assessment

By Active Ingredient:

• Acid Based

• Extract Based

• Others

The acid based segment is expected to amass notable gains over the stipulated timeline owing to their widespread benefits such as soil pH value regulation, optimization of uptake nutrients, and enhancement of water retention.

By Application:

• Foliar Treatment

• Soil Treatment

• Seed Treatment

The foliar segment is anticipated to generate significant returns over the forecast duration due to escalating demand to improve farm yield.

By Crop:

• Row Crops

• Turf & Ornamentals

• Fruit & Vegetables

• Others

The turf & ornamentals segment is slated to grow considerably over the estimated timeline ascribing to the surging number of sports clubs and nurseries across the globe.

By Form:

• Dry

• Liquid

The liquid segment is expected to showcase lucrative expansion trends over the assessment timeframe due to the ability of liquid formulation to activate the osmotic effects of plants.

Global Biostimulants Market: Geographical Landscape

The major regions constituting the geographical gamut of this market vertical are Middle East & Africa, North America, Europe, Asia Pacific, and Latin America. Among these, Europe is projected to capture a high revenue share over 2023-2033. This is attributable to the elevating demand for eco-friendly farming alternatives and increasing consumption of organic food products.

Meanwhile, Asia Pacific is poised to showcase lucrative growth trends over the forecast period credited to rising demand for food crops due to population expansion, developments in the agricultural sector, and favorable government incentives to promote the use of biostimulants.

Global Biostimulants Market: Recent Developments

·         In February 2020, Valagro announced the acquisition of Mirnagreen to diversify its product offerings.

Global Biostimulants Market: Key Companies

·         Biolchim S.p.A

·         Biovert SL

·         BASF SE

·         Bayer S.p.A.

·         Arysta LifeScience Corporation

·         ILSA S.p.A.

·         Italpollina S.p.A.

·         Koppert B.V.

·         Lallemand

·         Trade Corporation International

·         Valagro

·         Desarrollo Agrícola y Minero S.A.

·         Artal Agronutrientes

·         Mahafeed Specialty Fertilizers Pvt. Ltd.

·         Agrinos

·         Micromix

·         Biostadt India Limited

·         AGRICHEM, S.A.

·         Agricultural Sciences, Inc.

·         Produquimica (Compass Minerals)

·         Stoller

·         BioAg

·         General Hydroponics Inc.

·         Ag Concepts

·         Nutrien

·         Nutri-Tech Solutions Pty Ltd.

·         Others

Global Biostimulants Market: Regional Scope   

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         U.K.

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Europe

Asia Pacific

·         China

·         India

·         Japan

·         South Korea

·         Australia

·         Rest of Asia Pacific

South America

·         Brazil

·         Argentina

·         Rest of South America

Middle East and Africa

·         Saudi Arabia

·         UAE

·         Egypt

·         South Africa

·         Rest of Middle East and Africa

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