Biostimulants Market

Market Overview 2023-2028:

The global biostimulants market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.0 Billion by 2028, exhibiting a growth rate (CAGR) of 10.5% during 2023-2028. The rising adoption of organic farming methods, increasing need for enhanced and safe crop yields, and rising environmental concerns represent some of the key factors driving the market.

Biostimulants refer to natural and microbe-based agriculture chemical or substance that is applied to seeds and plants for enhanced plant growth. They comprise various raw materials, such as humic, fulvic, amino acid, and seaweed and plant extracts, and are widely available in dry and liquid form.  They reduce the dependency on fertilizers and pesticides and enhance nutrient uptake while improving crop productivity. They increase plant growth, metabolism, grain fill, uniformity, and overall crop quality. They assist in promoting improved germination and root development that causes improved vigor and abiotic stress resistance. They also aid in supporting sustainable agricultural practices that enhance soil fertility and water uptake. They maximize the biological efficiencies of a plant and benefit in better crop yields with more nutrients. As they increase the resistance to pathogens in crops and plants, biostimulants are utilized for foliar, soil, and seed treatment across the globe.

Biostimulants Market Trends:

At present, the rising demand for biostimulants due to the increasing consumption of food worldwide represents one of the key factors supporting the growth of the market. Besides this, the growing demand for biostimulants due to the increasing awareness among individuals about the adverse effects of synthetic pesticides and fertilizers is offering a positive market outlook. Additionally, there is a rise in the need for high-quality, safe, and environmental-friendly food products among the masses around the world. This, coupled with the increasing adoption of organic farming methods for agriculture sustainability that reduces environmental pollution, is propelling the growth of the market. Apart from this, the rising demand for biostimulants, as they protect crops from various diseases and provide treatments, is offering lucrative growth opportunities to industry investors. Moreover, the wide availability of biostimulants that are rich in minerals, plant hormones, and amino acids is positively influencing the market. In addition, governing agencies of various countries are encouraging the adoption of biostimulants by organizing numerous campaigns to educate farmers about bio-agriculture solutions and to produce high-quality products with no emissions, which is contributing to the growth of the market. Furthermore, the rising utilization of biostimulants in oilseeds and pulses, cereals and grains, and fruits and vegetables is strengthening the market growth. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biostimulants market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, crop type, form, origin, distribution channel, application and end-user.

Product Type Insights:

• Acid-based
  • Humic Acid
  • Fulvic Acid
  • Amino Acid
• Extract-based
  • Seaweed Extract
  • Other Plant Extracts
• Others
  • Microbial Soil Amendments
  • Chitin & Chitosan
  • Others
     

The report has provided a detailed breakup and analysis of the biostimulants market based on the product type. This includes acid-based (humic acid, fulvic acid, and amino acid), extract-based (seaweed extract and other plant extracts), and others (microbial soil amendments, chitin and chitosan, and others). According to the report, acid-based (humic acid, fulvic acid, and amino acid) represented the largest segment.

Crop Type Insights:

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

A detailed breakup and analysis of the biostimulants market based on the crop type has also been provided in the report. This includes cereals and grains, fruits and vegetables, turf and ornamentals, oilseeds and pulses, and others. According to the report, cereals and grains accounted for the largest market share.

Form Insights:

• Dry
• Liquid
   

A detailed breakup and analysis of the biostimulants market based on the form has also been provided in the report. This includes dry and liquid. According to the report, dry accounted for the largest market share.

Origin Insights:

• Natural
• Synthetic
   

A detailed breakup and analysis of the biostimulants market based on the origin has also been provided in the report. This includes natural and synthetic. According to the report, natural accounted for the largest market share.

Distribution Channel Insights:

• Direct
• Indirect
   

A detailed breakup and analysis of the biostimulants market based on the distribution channel has also been provided in the report. This includes direct and indirect. According to the report, direct accounted for the largest market share.

Application Insights:

• Foliar Treatment
• Soil Treatment
• Seed Treatment
   

A detailed breakup and analysis of the biostimulants market based on the application has also been provided in the report. This includes foliar treatment, soil treatment, and seed treatment. According to the report, foliar treatment accounted for the largest market share.

End-User Insights:

• Farmers
• Research Organizations
• Others
   

A detailed breakup and analysis of the biostimulants market based on the end-user has also been provided in the report. This includes farmers, research organizations, and others. According to the report, farmers accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others) was the largest market for biostimulants. Some of the factors driving the Europe biostimulants market included the growing preference towards sustainable agriculture, development of innovative agriculture products, increasing organic farming, etc.   

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global biostimulants market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Agrinos AS, Adama LTD., BASF SE, Bayer, Biolchim SpA., Biostadt India Ltd., Isagro, Italpollina SpA, Koppert B.V., Novozymes, Syngenta, Valagro SpA, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the biostimulants market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global biostimulants market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the biostimulants industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.