The global biostimulants market reached a value of US$ 2.5 Billion in 2019. IMARC Group expects the biostimulants market to reach a value of US$ 4.8 Billion by 2025, registering a CAGR of 11.5% during 2020-2025. Biostimulants refer to microbe-based agricultural chemicals that are used to promote plant growth organically. They are manufactured using various active ingredients, including humic and fulvic acids, seaweed extracts, amino acids, vitamins, trace minerals, polysaccharides and microbial amendments. They are applied to the soil, seed or leaves of cereals, grains, fruits, vegetables, oilseeds and other plantation crops to enhance the nutrient availability, tolerance to environmental stresses, water holding capacity, metabolism and production of chlorophyll. They also increase the antioxidant activity and stimulate root development and cell enlargement in the plant.
Global Biostimulants Market Growth Drivers:
The thriving agriculture industry, along with the increasing adoption of organic farming practices, is among the key factors driving the market growth. Owing to the rising concerns regarding agricultural sustainability, soil health and environmental safety, biostimulants are increasingly being used along with organic manure to improve soil fertility and plant health. Rising consumer awareness regarding the adverse effects of chemically synthesized pesticides and fertilizers is also providing a boost to the market growth. Biostimulants have a low ecological footprint, non-toxic nature and do not contaminate the soil, which is leading to their widespread adoption. Furthermore, the rising demand for food as a result of the rapidly increasing global population, coupled with the limited availability of cultivable land, is acting as another growth-inducing factor. Biostimulants aid in enhancing the crop yield, thereby meeting the steadily rising food demand across the globe. Other factors, including various innovations in the field of agricultural sciences and extensive research and development (R&D) activities, are projected to drive the market further. Looking forward, IMARC Group expects the global biostimulants market to exhibit strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biostimulants market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on product type, crop type, form, origin, distribution channel, application, end-user and region.
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Global biostimulants market is highly fragmented with the presence of several small and large manufacturers competing in terms of price and quality. Some of the leading biostimulants companies are:
Key Questions Answered in This Report:
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