Biostimulants Market Forecasts to 2028 – Global Analysis By Form (Liquid, Dry), Ingredients (Acid, Extract, Other), Crop (Hydroponics, Fruits & Vegetables, Turfs & Ornamentals), Source, End User and By Geography

Biostimulants Market Forecasts to 2028 – Global Analysis By Form (Liquid, Dry), Ingredients (Acid, Extract, Other), Crop (Hydroponics, Fruits & Vegetables, Turfs & Ornamentals), Source, End User and By Geography

According to Stratistics MRC, the Global Biostimulants Market is accounted for $3.20 billion in 2021 and is expected to reach $8.06 billion by 2028 growing at a CAGR of 14.1% during the forecast period. Biostimulant is an organic material which, when applied in small amounts, enhances plant growth and development such that the response cannot be attributed to the application of traditional plant nutrients. Biostimulants are a mixture of seaweed extracts, microorganisms, trace elements, enzymes, and plant hormones. They may increase antioxidants, increase water-holding capacity, nutrient availability, enhance metabolism, and increase chlorophyll production of the plants.

Market Dynamics:

Driver:

Growing organic farming

In recent years, the demand for healthy food without chemical residues produced in an environment-friendly and sustainable way has risen. The awareness drives the increasing use of organic fertilizers to quest for the organic food industry, replacing conventional farming methods relying heavily on chemical fertilizers. Biostimulants have an important role in organic farming and organic gardening for crop nutrition and crop protection. In addition, biostimulants applied to plants enhance nutrition efficiency, abiotic stress tolerance, and/or plant quality traits, regardless of their nutrient contents. Biostimulants or biofertilizers are relevant components of sustainable agriculture and have the potential to tip the balance in favor of organic cultivation methods.

Restraint:

Low-quality biostimulant products

Lack of transparency in patent protection laws in various countries has led to the prevalence of low-quality products. The low prices of the products from small-scale domestic manufacturers attract farmers to purchase them, which is in turn hampering the sales of biostimulants.

Opportunity:

Rising support from government

The rising agricultural emissions have encouraged the government to upscale the production of high-quality agricultural products with lesser or no emissions. Governments across the globe are trying to educate farmers about various benefits offered by bio-stimulant through the launch of programs. These governmental efforts provide opportunities significantly which aid market growth in the forthcoming years. The number of associations formed for the regulation of novel products like these stimulants is increasing across the globe which is predicted to be beneficial for the growth of the market.

Threat:

Prevalence of uncertainty on the regulatory framework of biostimulants

Biostimulants have not yet being governed under any standard categorization across the globe. Currently, biostimulants are not classified as a specific category with a consistent global definition. The lack of proper regulatory framework leads to the manufacture and sales of many questionable products in the market. This further impacts the adoption rate of biostimulants in the global markets.

The foliar segment is expected to be the largest during the forecast period

The application of bio-stimulant through foliar spray or treatment potentially maximizes the production efficiency in several crops. Foliar sprays are very beneficial for numerous high-value crops and are extremely convenient to apply on plants (leaves or foliage) as compared to the other application methods.

The seaweed extracts segment is expected to have the highest CAGR during the forecast period

Seaweed extracts are rich in phytohormones and trace elements for plant growth. Seaweed extracts enhance soil fertility and increase crop productivity under various environmental stress conditions. The application of seaweed extracts improves soil structure and aeration, increases biotic and abiotic stress tolerance, enhances seed germination, and stimulates root growth, flower set, and fruit production thus their market is estimated to attain fast growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share due to the agriculture industry in Asia, particularly in the Southeast Asian countries, has witnessed effective transformation due to various technological advancements. The rise in the adoption of quality agriculture products by Asian producers is also expected to contribute to the biostimulants market growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR due to its regulatory framework, as well as the proper definition that causes a greater number of manufacturers to lean towards their manufacturing. To meet the increased demand for bio-stimulants in the agricultural sector of the region manufacturers are launching products and making strategic decisions and on the market. For instance, Bioiberica launched Equilibrium developed specifically for the beginning of the ripening of the fruits and the picking.

Key players in the market:

Some of the key players profiled in the Biostimulants Market include Valagro SpA, Syngenta, Novozymes, Koppert B.V., Italpollina SpA, Isagro, Biostadt India Ltd., Biolchim SpA., Bayer, BASF SE, Agrinos AS and Adama LTD.

Key developments:

In March 2021: Gowan Company acquired Isagro S.p.A. This purchase expands Gowan’s commercial opportunities, deepens scientific capability and introduces chemical synthesis.

In June 2021: UPL launched a new range of Biostimulant products based on GoActiv Technology, designed to address specific crop physiological or abiotic stresses in fruits, vegetables, vines and tree crops.

In March 2020: Valagro launched Talete a new biostimulant, originating from the exclusive GeaPower technology platform, to increase crop water productivity.

In February 2019: Itapollina launched an innovative biostimulants product (Tandem) containing Trichoderma atroviride strains, and enriched with vegetal peptides to promote rooting, increases seed germination and plant growth.

Form Covered:
• Liquid
• Dry

Active Ingredients Covered:
• Acid-Based
• Microbial Soil Amendments
• Extract-Based
• Other Active Ingredients

Crop Types Covered:
• Hydroponics
• Fruits & Vegetables
• Turfs & Ornamentals
• Ornamental Plants and Herbs
• Landscape
• Commercial Crops
• Row Crops
• Other Crop Types

Sources Covered:
• Microbial
• Non-microbial

Mode of Applications Covered:
• Soil Treatment
• Foliar
• Seed treatment

Origins Covered:
• Natural
• Synthetic

End Users Covered:
• Agriculture Industries
• Farmers
• Research Institutes

Distribution Channels Covered:
• Indirect
• Direct

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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