Growing emphasis on increasing crop productivity and quality is boosting growth of the biostimulants market
Biostimulants Market size: USD 2.89 in 2020, Growth: CAGR of 11.3%, Trends: Increasing consumer inclination toward organic products
Biostimulants are substances and microorganisms that stimulate plant growth and improve plant health by enhancing nutrient uptake, stress tolerance, and other physiological processes. Biostimulants are widely used in agriculture, horticulture, and turf management.
The increasing demand for sustainable agricultural practices is one of the major factors driving the growth of the biostimulants market. Biostimulants are used to enhance crop productivity and quality while reducing the use of synthetic fertilizers and pesticides. Biostimulants can also help mitigate the effects of climate change by improving soil health, water use efficiency, and carbon sequestration.
Moreover, the growing demand for organic food and beverages is also driving the market growth. Biostimulants are widely used in organic farming to improve crop yields and quality without the use of synthetic chemicals.
In terms of product type, microbial biostimulants are the largest segment of the biostimulants market, owing to their ability to enhance nutrient availability, improve soil health, and promote plant growth. However, plant extract biostimulants are also expected to witness significant growth in the coming years, driven by the increasing demand for natural and sustainable products.
Overall, the biostimulants market is expected to witness significant growth in the coming years, driven by the increasing demand for sustainable agriculture practices and the development of innovative biostimulant products and technologies. The adoption of advanced biostimulant formulations and the development of new delivery systems are also expected to drive the market growth in the future.
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Top Leading Players in The Global Biostimulants Market Are:
BASF (Germany), Isagro (Italy), Valagro (Italy), Bayer (Germany), Italpollina (Italy), Koppert Biological Systems (Netherlands), Acadian Seaplants (Canada), UPL (India), and Biolchim (Italy).
Biostimulants Market Upcoming Growth:
Biostimulants are substances or microorganisms that are applied to plants or soils to enhance plant growth, health, and productivity. The market for biostimulants is expected to grow due to the increasing demand for sustainable and eco-friendly agriculture practices.
The global biostimulants market was valued at $3.0 billion in 2020 and is expected to reach $6.0 billion by 2028, growing at a CAGR of 9.0% from 2021 to 2028. The growth of the market can be attributed to several factors such as the increasing demand for high-quality crops and the need for sustainable agriculture practices to address food security challenges.
Moreover, the increasing adoption of organic farming practices and the rising trend of using biostimulants in conjunction with traditional fertilizers are also expected to drive the growth of the market. The development of new biostimulant formulations and the increasing use of biostimulants in emerging markets may also create new opportunities for the market in the future.
Some key highlights in the report:
- On the basis of crop type, the cereal & grain segment is expected to contribute considerable market revenue share throughout the forecast period owing to availability of large cultivable land and increasing demand for these crops around the year. Biostimulants applied to these crops help to boost rate of cell division, improved seed size, and high yield.
- Based on active ingredients, the seaweed extract segment is expected to register a significantly robust CAGR throughout the forecast period. High revenue CAGR is attributed to increasing adoption of seaweed cultivation and growing demand for seaweed in various agricultural applications.
- On the basis of mode of application, the foliar spray treatment segment is expected to account for largest revenue share during the forecast period due to high efficiency in comparison with other application methods.
Segments covered in the report:
Based On Source: (Revenue, USD Billion, 2018 – 2028)
Based On Active Ingredient (Revenue, USD Billion, 2018 – 2028)
- Humic Substances
- Humic Acid
- Fulvic Acid
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Trace minerals
Based On Crop Type (Revenue, USD Billion, 2018 – 2028)
- Cereals & Grains
- Fruits & Vegetables
- Turf & Ornamentals
- Oilseeds & Pulses
- Plantation Crops
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- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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