Global Bio stimulants Market Report Size, Trends & Growth Opportunity, By Active Ingredients (Acid Based, Seaweed Extracts, Microbial, Others), By Application (Foliar Treatment, Seed Treatment, Soil Treatment), By Crop Type (Row Crops & Cereals, Fruits & Vegetables, Turf and Ornamentals, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East) And Forecast Till 2027.
Global Bio stimulants Market
Global Bio stimulants was valued at US$ 1,280.45 Million in 2021, estimated to reach US$ 6,970.35 Million in 2027, with a CAGR of 23.33% from 2022-2027.
Any microorganism that applied to seeds, plants, or on the rhizosphere, stimulates natural processes to improve or benefit nutrient uptake, nutrient use efficiency, tolerance to abiotic stress, or crop quality and yield is called as Bio stimulants.
Agricultural procedures are required to identify possible ways to be more efficient & effective in the coming decade. Bio stimulants can address this issue in a sustainable manner, by providing protection against stress & thereby propelling the growth of the plant.
The market for bio stimulants is anticipated to grow in the upcoming years, owing to the increase in consumer awareness about the benefits of organic foods, implementation of organic regulations, and adoption of Global Good Agricultural Practices (GLOBAL GAP) polices.
The use of organic & bio-based compounds in agriculture & forestry provides a significant opportunity for farmers to improve roots 7 shoot growth, stress resistance, and better growth potential. For instance, as per the information provided by the international federation of Organic Agriculture Movements & Research Institute of Organic Agriculture, in the year 2020, agricultural land under organic certification was around 3.14 million hectares in China.
The strong emphasis from governments & other stakeholders on the organic & sustainable mode of farming has raised the acceptance of these bio stimulants.
Lack of transparency in patent protection laws in several countries has led to the prevalence of low-quality products.
The low prices of these products from small scale domestic manufacturers attracts farmers to purchase them which expected to hamper the growth of global bio stimulant market over the forecast period.
Bio stimulants Market is segmented into major 4 categories. Based Active Ingredients, the market is segmented into Acid Based, Seaweed Extracts, Microbial, Others. Based on Application, the market is divided into Foliar Treatment, Seed Treatment, Soil Treatment. Based on Crop Type, the market is segmented into Row Crops & Cereals, Fruits & Vegetables, Turf and Ornamentals, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East.
Europe market dominates the Bio stimulants market across the world owing to the growing consumption of organic foods and the growing preference of manufacturers for sustainable & eco-friendly production alternatives.
Asia Pacific was the second-largest regional market in 2021 owing to the presence of various manufacturing companies along with the rapid growth of agriculture-based economies, such as India and China.
Central & South America is estimated to register the second-highest growth rate, in terms of revenue, over the forecast period. Although currently, the region is growing at a stagnant rate, it has a lot of growth potential due to the presence of economies, such as Brazil, which are primarily agriculture-based.
Market Key Players
Some of the key players operating in Global Bio stimulants Market are BASF SE, Isagro Group, Sapec Agro S.A., Biolchim S.P.A., Novozymes A/S, Platform Specialty Products Corporation, Valagro SpA, Koppert B.V., Italpollina SPA, Biostadt India Limited.
In Nov 2021, Hanwha Solutions had announced a strategic investment in REC Silicon ASA to secure low-carbon photovoltaic materials amid growing demand for renewable energy in the USA. The company, which operates Q CELLS, agreed to invest in REC Silicon for $160.47 million, becoming a co-leading shareholder of the Biostimulant manufacturer with Aker Horizons, a Norway-headquartered investment firm focused on renewable energy.
In Oct 2020, Isagro S.p.A. communicates the Closing of the acquisition of 100% of Phoenix-Del S.r.l. capital stock was finalized. The value of the transaction amounts to €3.6 million, out of which 3.1 million paid Wednesday and 0.5 million to be paid in 2023 subject to the achievement of certain commercial objectives.
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