Global Biostimulants Market to Grow at 9.2% During 2024-2032, Bolstered by Flourishing Agriculture Industry

July 07, 2021 | Chemical & Materials

As per the latest report by IMARC Group, titled “Biostimulants Market Report by Product Type (Acid-based, Extract-based, and Others), Crop Type (Cereals and Grains, Fruits and Vegetables, Turf and Ornamentals, Oilseeds and Pulses, and Others), Form (Dry, Liquid), Origin (Natural, Synthetic), Distribution Channel (Direct, Indirect), Application (Foliar Treatment, Soil Treatment, Seed Treatment), End-User (Farmers, Research Organizations, and Others), and Region 2024-2032, the global biostimulants market size reached US$ 2.8 Billion in 2023. Biostimulants are substances containing microorganisms that are applied to plants and soil to stimulate their natural growth. They produce nutrients to enhance the efficiency, tolerance to abiotic stress, yield and crop quality in plants. Biostimulants are manufactured from humic acid, hormones, algae extract, and plant growth-promoting bacteria, to improve the development of plants when subjected to stress and saline environment. Biostimulants complement mineral fertilizers by improving their effect through the availability, assimilation, translocation, and use of plant nutrients. They also increase the water holding capacity, metabolism, and chlorophyll production.

Global Biostimulants Market Trends: 

The global biostimulants market is primarily driven by the rapid growth of the agriculture industry and the increasing adoption of sustainable farming methods. Besides this, the rising awareness among consumers regarding agricultural sustainability, soil health and environmental safety Furthermore, governments are undertaking initiatives to educate farmers regarding the benefits of superior agro-products, such as biostimulants. As a result, the use of these substances is increasing as an effective substitute to chemical-based agro products that cause environmental hazards and soil contamination. Moreover, manufacturers are focusing on extensive research and development (R&D) activities to develop advanced biostimulants to expand their product lines. On account of these factors, the market is expected to exhibit a CAGR of 9.2% during the forecast period (2024-2032).

Market Summary: 

  • Based on the product type, the market has been segmented into acid-based (humic, fulvic, and amino acid), extract-based (seaweed and other plant extracts), and others (microbial soil amendments, chitin and chitosan, and others).
  • On the basis of the crop type, the market has been classified into cereals and grains, fruits and vegetables, turf and ornamentals, oilseeds and pulses, and others.
  • The market has been categorized based on the form into dry and liquid.
  • On the basis of the origin, the market has been bifurcated into natural and synthetic.
  • Based on the distribution channel, the market has been segregated into direct and indirect.
  • The market has been classified based on the application into foliar, soil, and seed treatment.
  • On the basis of the end-user, the market has been segmented into farmers, research organizations, and others.
  • Region-wise, the market has been divided into 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 Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Agrinos AS, Adama LTD, BASF SE, Bayer AG, Biolchim SpA, Biostadt India Ltd., Isargo S.p.A., Italpollina SpA, Koppert B.V., Novozymes A/S, Syngenta Group, and Valagro SpA.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Crop Type, Form, Origin, Distribution Channel, Application, End-User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Agrinos AS, Adama LTD., BASF SE, Bayer, Biolchim SpA., Biostadt India Ltd., Isagro, Italpollina SpA, Koppert B.V., Novozymes, Syngenta and Valagro SpA
Customization Scope 10% Free Customization
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Global Biostimulants Market to Grow at 9.2% During 2024-2032, Bolstered by Flourishing Agriculture Industry
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