Biostimulants Market Size, Share and Industry Analysis Report by Active Ingredients (Acid-based [Humic Acid, Fulvic Acid, Amino Acids], Extract-based [Protein Hydrolysates, Seaweed Extracts]), Application (Foliar Treatment, Soil Treatment, Seed Treatment), Crop (Row Crops, Turf & Ornamentals, Fruit & Vegetables), and Form (Dry, Liquid), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

Industry Statistics

Biostimulants Market size registered more than USD 3 billion in revenue in 2022. Driven by strong dependency on the agricultural sector for food products, the industry is estimated to grow at over 10.5% CAGR from 2023 to 2032.
 

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The escalating necessity to improve the yield per hectare is primed to accelerate 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 market players 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 growth. As external factors, including global warming, climatic scenarios, and land fertility, hinder the growth of plants, the demand for biostimulants has increased drastically.
 

Long approval procedures may restrain industry progression

The lengthy approval process is a major factor restraining biostimulants market growth. 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, hampering the overall industry revenue. 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.
 

Lower processing costs of acid-based stimulants to push market statistics

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In terms of active ingredients, the biostimulants market is categorized into acid-based, extract-based, and others. The acid-based segment was valued at more than 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.
 

Increasing demand for fruits & vegetables to help biostimulants gain traction

With respect to crop, the biostimulants market is divided into row crops, turf & ornamentals, fruit & vegetables, and others. The fruits & vegetables segment is likely to expand at more than 10.5% CAGR over 2023-2032, the report claims. The snowballing consumption of processed fruit & vegetable products due to fast-paced lifestyles is augmenting the segment growth. Biostimulants provide better shelf-life and early growth to improve crop quality and support fruit & vegetable production, which is slated to foster product outlook.
 

Ability to increase shelf-life to accelerate liquid form segment demand

Based on form, the biostimulants market is classified into dry and liquid. Liquid segment is expected to reach more than 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.
 

Escalating food consumption to augment product usage for foliar treatment

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In terms of application, biostimulants market is segregated into soil treatment, foliar treatment, and seed treatment. Foliar treatment segment reached a valuation of more than USD 2.5 billion in 2022 and is slated to grow steadily 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.
 

Growing need for better yield efficiency to aid North America industry expansion

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North America biostimulants market is set to depict more than 10% CAGR from 2023 to 2032 on account of the growing awareness regarding the benefits of biostimulants in weeds, diseases, and stress resistance. Furthermore, biostimulants also improve the germination and root development system, contributing to the efficient absorption of nutrients & water during the growing season, which is foreseen to propel business growth in the region.
 

Acquisition agreements to strengthen the biostimulants industry outlook

Biostadt India Limited, Biolchim S.p.A, Bayer S.p.A, Desarrollo Agrícola y Minero, S.A., Italpollina 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., and Arysta LifeScience Corporation are some of the key players of biostimulants industry.
 

Impact of COVID-19 on the biostimulants market trends

The coronavirus outbreak impacted the overall agricultural sector negatively, causing a decline in bio stimulants 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 biofertilizers to improve the nutritional quality of plants and soil.
 

The 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:

By Active Ingredients

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

By Application

• Foliar treatment
• Soil treatment
• Seed treatment

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
• Others

By Form

• Dry
• Liquid

The above information is provided on a regional and country basis for the following:

• 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