Biostimulants Market Size - By Active Ingredients (Acid-based [Humic Acid, Fulvic Acid, Amino Acids], Extract-based [Protein Hydrolysates, Seaweed Extracts]), By Crop (Row Crops, Turf & Ornamentals, Fruit & Vegetables), Application, Form & Forecast 2023 - 2032

Biostimulants Market Size

Biostimulants Market size was valued at USD 3 billion in 2022 and is projected to witness 10.5% CAGR from 2023 to 2032. Driven by strong dependency on the agricultural sector for food products.
 

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The escalating necessity to improve the yield per hectare is primed to accelerate the market growth. Recent inclination towards healthy diets has boosted the uptake of plants and vegetables, which has favored product penetration in the agriculture sector. Moreover, the strong emphasis of companies on enhancing the performance of biostimulants to improve the shelf-life of food products has aided the expansion of the customer base.
 

In addition, the soaring use of biostimulants to reduce abiotic stress is also fueling the biostimulants market demand. As external factors, including global warming, climatic scenarios, and land fertility, hinder the growth of plants, the demand for biostimulants has increased drastically.
 

COVID-19 Impact

The coronavirus outbreak impacted the overall agricultural sector negatively, causing a decline in biostimulants uptake. The halt in R&D programs and agricultural & horticulture practices due to COVID-19-induced lockdown restrictions influenced the cropping patterns, crop management, and usage of chemical inputs, harvesting, and marketing initiatives. However, in the post-pandemic scenario, the resumption of operations and the rise in food & beverage consumption have impelled the use of biostimulants to improve the nutritional quality of plants and soil, which is likely to support the biostimulants market development.
 

Long approval procedures may influence the industry progression

The lengthy approval process is a major factor restraining the biostimulants market size. As government bodies pay close attention to food and drug consumption to maintain the quality of the food, the implementation of biostimulants goes through a rigid approval process. Nonetheless, prominent initiatives to enhance the crop and plant nutritional value and ongoing R&D projects in the sector are foreseen to enable producers to overcome the issue.
 

Biostimulants Market Analysis

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The biostimulants market size from acid-based segment held over USD 1.5 billion in 2022, on account of lower processing costs and easy availability of active ingredients that are used in biostimulants. Acids increase the aeration & water retention and microbial capability of the soil by altering the neutralization of both acidic & alkaline soils and regulating the soil’s PH level, which is primed to favor the industry outlook.
 

The biostimulants market from the fruits & vegetables segment is set to witness 10.5% CAGR through 2032. The snowballing consumption of processed fruit & vegetable products due to fast-paced lifestyles is augmenting the industry growth. Biostimulants provide better shelf-life and early growth to improve crop quality and support fruit & vegetable production.
 

The biostimulants market size from liquid segment will reach USD 2.5 billion by 2032. The ease of application and low labor cost of these biostimulants are bolstering their adoption. Furthermore, the liquid form has a higher shelf life & viscosity and provides temperature adaptability, which improves the nutritional elements of plants, turfs, and crops to recover from stress and enhance root growth.
 

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The biostimulants market from the foliar treatment segment dominated around USD 2.5 billion revenue in 2022, owing to surging demand for food, along with the rising need to improve farm yield, which, in turn, is encouraging producers to utilize biostimulants for impelling crop yield efficiencies. Foliar spray is directly applied to the plant leaves and is the most traditional biostimulants application method due to burgeoning arable lands and loss of irrigation and soil degradation.
 

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Europe biostimulants market size will gain remarkable momentum during the forecast timeline, due to rising environmental concerns. The rising evolution and innovative organic products, which target agro-economic needs, will boost the market growth. Further, the European Commission's Farms to Fork Strategy states that organic is an important component of fulfilling the European Green Deal's food needs. Additionally, biostimulants also improve the germination and root development system, contributing to the efficient absorption of nutrients & water during the growing season.
 

Biostimulants Market Share

Some of the leading companies involved in the biostimulants market include :

• Biostadt India Limited
• Biolchim S.p.A
• Bayer S.p.A
• Desarrollo Agrícola y Minero
• S.A.
• talpollina S.p.A.
• Lallemand
• Trade Corporation International
• Mahafeed Specialty Fertilizers Pvt Ltd.
• Micromix
• Agricultural Sciences, Inc.
• Agrinos
• Ag Concepts
• Valagro
• Artal Agronutrientes
• Produquimica (Compass Minerals)
• AGRICHEM
• S.A
• Koppert B.V.
•  ILSA S.p.A.,
• Stoller
• BASF SE
•   BioAg
• General Hydroponics Inc.
• Nutrien
• Biovert SL
• Nutri-Tech Solutions Pty Ltd.
•  Arysta LifeScience Corporation.
   

These firms primarily engage in strategic mergers and acquisitions to remain ahead in the competitive landscape, thereby positively influencing the overall biostimulants market scenario. For instance, in February 2019, UPL Limited, an Indian agrochemicals company, completed the acquisition of Arysta LifeScience, a chemical manufacturing firm specializing in crop protection. With this takeover, UPL aimed to offer broader choices, greater value, and increased sustainability to secure the world’s food supply.
 

This biostimulants market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Active Ingredients

• Acid based
  • Humic Acid
  • Fulvic Acid
  • Amino Acids
• Extract based
  • Protein Hydrolysates
  • Seaweed Extracts
• Others

Market, By Application

• Foliar treatment
• Soil treatment
• Seed treatment

Market, By Crop

• Row crops
  • Corn
  • Wheat
  • Rice
  • Soybeans
  • Rapeseed
  • Others
• Turf & ornamentals
• Fruits & Vegetables
  • Fruits
    • Strawberry
    •  Apple 
    •  Grapes
    •  Citrus fruits
    •  Others
  • Vegetables
    • Solanaceous and root crops
    •  Potatoes
    •  Tomatoes
    •  Capsicum and Chilies
    •  Onion
    •  Other
    • Leafy Vegetables
    •  Lettuce 
    •  Spinach 
    •  Cabbage
    •  Cauliflower
    •  Others
    • Seed vegetables
    • Others

Market, By Form

• Dry
• Liquid

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K
  • Italy
  • Spain
  • Ukraine
  • Kazakhstan
  • Turkey
  • Bulgaria
  • Greece
  • Russia
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Egypt
  • Tunisia