Biostimulant Market By Product Type (Acid-Based, Extract-Based, Others), By Crop Type (Row Crops And Cereals, Fruits And Vegetables, Turf And Ornamentals, Other Crops), By Application (Foliar Spray, Soil, Seed), : Global Opportunity Analysis and Industry Forecast, 2020-2031
Biostimulants are biologically produced fertilizers that are used to stimulate plant development and productivity, in addition to the nourishment of agrarian products. A biostimulant boosts plant development and growth throughout the crop life cycle, i.e., from seed germination to plant maturity. These fertilizers further help in facilitating nutrient translocation, assimilation, and use; and enhance soil fertility mainly by stimulating the development of interdependent soil microorganisms.
An increase in focus to increase crop productivity and quality drives the surging demand for biostimulant products in the market. Another significant factor influencing the market growth is the introduction of sustainable agriculture to protect the environment from adverse effects, especially in Europe and North America. However, low awareness about the advantages of biostimulants in agricultural activities among the farmers impedes the market growth.
Population growth has increased the desire for improved agricultural yields and quality, which can be reached by employing biostimulants. Plants' resistance to unfavorable impacts such as severe temperature, salt, water scarcity, and others is increased by biostimulants. Biostimulant assists to improve product quality, resulting in healthier and more nutritious food for customers and higher revenue for crop growers. These contribute to the protection and improvement of the soil's quality. Furthermore, they aid in the formation of microorganisms in the soil, which aids in the effective retention of water. These characteristics contribute to increased yields and crop quality, which are likely to drive biostimulant demand throughout the forecast period.
Biostimulants have been associated with organic agriculture for ages. The biostimulants play a significant role in conventional agriculture as a complement to crop nutrition and protection. Enhanced root growth, better root growth potential, better stress resistance, and a decrease in nitrogen levels of fertilization are some of the benefits offered by biostimulants, which help promote sustainable agriculture. These help to enhance plant metabolism and act on the physiological mechanisms of crops to increase resistance and the recovery of the plant in abiotic stressful situations. Microbial biostimulants are used as a substitute to decrease the consumption of plant protection products such as pesticides. As biostimulants have a high contribution to sustainable agriculture, their demand is anticipated to increase shortly.
The government of several European countries has encouraged the production of bio-based chemicals to maximize the yield and protection of crops. In line with this, the European Biostimulant Industry Consortium (EBIC) is proactively involved in promoting sustainable agriculture and boosting the European Biostimulant Industry. EBIC recognizes the contribution of biostimulants to green innovation, sustainable agricultural production, economic growth, and other European Union (EU) policy objectives. According to EBIC, around 8.5 million hectares of land in Europe were treated with biostimulants in 2016. Such measures are expected to bring new opportunities to crop growers in European countries.
Biostimulants offer a wide range of benefits such as high nutrient availability, improved plant metabolism, better water holding capacity, and others. As awareness regarding the benefits of biostimulants is sparse, their adoption among farmers is low. Some of the products have poor positioning in the market, due to a lack of awareness and limited knowledge among market participants. Every chemical has a threshold dose, above which it poses threat to the environment. Similarly, biostimulants have a threshold dosage, above which it can cause adverse effects on consumer health. In line with this, the agricultural and food safety policies in Europe have several protocols relating to the usage of biostimulants in agricultural applications.
The biostimulant market is segmented on the basis of product type, crop type, application, and region. On the basis of product type, the market is classified into acid-based, extract-based, and others. By crop type, the market is categorized into row crops & cereals, fruits & vegetables, turfs & ornamentals, and others. On the basis of application, the market is divided into foliar spray, soil, and seed. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Turkey, South Africa, and rest of LAMEA).
The players operating in the global biostimulant market have adopted various developmental strategies to expand their biostimulant market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BASF SE, Biolchim S.p.A., Biostadt India Limited, Biovert S.L., Hello Nature, Isagro S.p.A., Koppert B.V., Lallemand, Inc., Novozymes A/S, and Valagro.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biostimulant market analysis from 2020 to 2031 to identify the prevailing biostimulant market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the biostimulant market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global biostimulant market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Acid-Based
Extract-Based
Others
By Crop Type
Row Crops And Cereals
Fruits And Vegetables
Turf And Ornamentals
Other Crops
By Application
Foliar Spray
Soil
Seed
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Turkey
South Africa
Rest of LAMEA
Key Market Players
BASF SE
Biolchim S.p.A.
biostadt india limited
Biovert S.L.
Hello Nature
Isagro S.p.A.
Koppert B.V.
Lallemand, Inc.
Novozymes A/S
Valagro
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