Market Overview 2022-2027:

The global biostimulants market reached a value of US$ 2.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.55 Billion by 2027, exhibiting at a CAGR of 11.48% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Biostimulants are natural and microbe-based agricultural chemicals that promote plant growth organically and protect against stress. They are formulated using microorganisms, active ingredients, trace elements, plant hormones, enzymes, and seaweed extracts. They are added to the soil, seeds, and leaves of the plant to enhance nutrient availability, water-holding capacity, and chlorophyll production. They also assist in reducing dependency on fertilizers and improving crop productivity. Besides this, they help stimulate root development and cell enlargement in the plant and support sustainable agricultural practices that increase soil fertility. As a result, biostimulants are widely used in the agriculture industry across the globe.

Biostimulants Market Trends:

The growing global population is resulting in the increasing consumption of food across the globe. This represents one of the key factors positively influencing the market. In addition, the rising adoption of organic farming practices for agricultural sustainability, soil health, and environmental safety is catalyzing the demand for biostimulants. Apart from this, the increasing awareness among individuals about the adverse effects of chemically synthesized fertilizers on plant development is also strengthening market growth. Furthermore, the limited availability of cultivable land is driving the need for biostimulants to enhance crop yield. Moreover, various innovations in agricultural science and continuous investment in research and development (R&D) activities are expected to augment market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biostimulants market, along with forecasts at the global, regional, and country levels from 2022-2027. Our report has categorized the market based on product type, crop type, form, origin, distribution channel, application, and end-user..

Breakup by Product Type:

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

Acid-based biostimulants currently account for the majority of the market share as they offer numerous advantages to the plant.

Breakup by Crop Type:

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

Cereals and grains dominate the market due to the growing global population and the increasing awareness among individuals about the health benefits of consuming cereals and wholegrain foods.

Breakup by Form:

• Dry
• Liquid

Dry formulation of biostimulants holds the majority of the market share as it releases nutrients slowly and can be stored for a longer period than liquid formulations.

Breakup by Origin:

• Natural
• Synthetic

Natural biostimulants currently represent the largest market segment due to the rising awareness among individuals about the adverse impact of artificial chemicals utilized for plant growth.

Breakup by Distribution Channel:

• Direct
• Indirect

Biostimulants are widely available through direct distribution channels as they enable brands to collect valuable data on customer buying habits and strengthen their position in the market competition.

Breakup by Application:

• Foliar Treatment
• Soil Treatment
• Seed Treatment

The foliar treatment dominates the market as it offers numerous benefits, such as faster absorption of nutrients and increased cellular activity.

Breakup by End-User:

• Farmers
• Research Organizations
• Others

Farmers hold the largest market share as they use biostimulants to improve nutrition efficiency, abiotic stress tolerance, and crop productivity.

Breakup by Region:

• 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

Europe currently enjoys the leading position in the market due to the increasing consumption of organic food products, along with the rising focus of manufacturers on introducing sustainable and eco-friendly production alternatives.

Competitive Landscape:

The global biostimulants market is highly fragmented with the presence of several small and large players competing in terms of price and quality. Some of the leading biostimulants companies are:

• Agrinos AS
• Adama LTD.
• BASF SE
• Bayer
• Biolchim SpA.
• Biostadt India Ltd.
• Isagro
• Italpollina SpA
• Koppert B.V.
• Novozymes
• Syngenta
• Valagro SpA

Report Coverage: