Home > Food, Nutrition & Animal Feed > Biostimulants Market
Biostimulants Market size is anticipated to grow over USD 6.5 billion by 2028 and is estimated to grow at over 12% CAGR between 2022 and 2028 due to increasing farming activities across the globe and growing awareness regarding the importance of health and nutrition of cultivable crops.
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Bio stimulant is a blend of plant hormones, microorganisms, trace elements, seaweed extracts, and enzymes that are applied to crops with aim to enhance plant growth & development process. Increasing cultivator attention towards inclusion of protein-rich regulators in regular farming practices owing to increasing nutrition consciousness among growers will drive the biostimulants market share.
Moreover, a focus on boosting soil fertility along with need for improving farm productivity will fuel industry growth. In addition, key benefits such as improvement in plant tolerance and recovery from abiotic stresses such as extreme climatic conditions, droughts, unfavorable salinity, and floods will further augment the overall biostimulants market value.
Report Coverage | Details |
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Base Year: | 2021 |
Market Size in 2021: | 3,055 Million (USD) |
Forecast Period: | 2022 to 2028 |
Forecast Period 2022 to 2028 CAGR: | 12.1% |
2028 Value Projection: | 6,728.8 Million (USD) |
Historical Data for: | 2017 to 2021 |
No. of Pages: | 450 |
Tables, Charts & Figures: | 480 |
Segments covered: | Active Ingredients, Crop, Application and Form |
Growth Drivers: |
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Pitfalls & Challenges: |
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Rapidly increasing population and declining arable lands have become imperative to maximize the agricultural output to cater to the needs of billions. To revolutionize the agricultural sector, farmers rely on chemical pesticides & fertilizers. However, they have adverse effects on the environment and indirectly pose a threat to human health. This has led to a switch from synthetic stimulants to biostimulants. Moreover, innovations and technological advancements by key industry participants to improve performance and product functionality will encourage farmers to opt for safer organic and eco-friendlier agricultural products.
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Based on source, biostimulants market is segmented into acid based, extract-based, and others. The acid-based biostimulants market is anticipated to reach over USD 3.73 billion by 2028. Acid based segment is further bifurcated into humic acid, fulvic acid, and amino acid. Humic acid groups help plant roots grow, water, and nutrients.
Benefits offered by humic acids such as regulating the pH value of soils and improvisation & optimization of uptake of nutrients and water by plants are anticipated to fuel segment growth. The product has a tendency to enhance water retention & soil texture properties and promotes microbial activities in the soil, making it more fertile and productive.
Favorable schemes & initiatives undertaken by governments along with manufacturers and suppliers of different countries across the world to encourage organic and advanced farming activities should further raise the biostimulants market value. Humic acid-based ingredients activate the metabolic process of plants and seed germination. It has wide application in irrigation systems and gardening. The high concentration of humic acid increases productivity and water-holding ability in farm crops.
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Based on application, the biostimulants market is segmented into row crops, turfs & ornamentals, and fruits & vegetables. Foliar treatment segment is anticipated to grow at a considerable rate of over 10.5% from 2022 to 2028. Potential applications in organic farming coupled with the rising necessity to improve farm productivity will propel the segment growth. Besides, growing food demand along with the necessity to improve farm yield encourages producers to use foliar feeding to improve crop yield efficiencies.
Foliar spray is gaining significant importance in the market owing to its benefits including better convenience in terms of application and better absorption than roots compared to its counterparts. Rapid technological developments & innovations in agrochemicals will effectively increase the production of organic materials for enhancing crop growth and productivity. Rising ecological concerns and the emergence of precision agriculture for soil management are expected to further boost the biostimulants market growth.
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Based on crops, biostimulants market is segmented into row crops, turf & ornamentals, fruits & vegetables, and others. Turf & ornamental segment is anticipated to reach over USD 774 million by 2028 owing to increasing necessity in enhancing shoot growth, root growth, and flower size and productivity.
The biostimulants helps in nutrient intake, increases the length of roots & absorption of water, and strong & healthy appearance of crops. Increasing demand for decorative ornamental plants in offices and homes is anticipated to promulgate product demand. Besides, increasing number of nurseries and sports clubs supported by growth of tourism industry will drive segment growth.
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Based on form, Liquid segment is anticipated to reach over USD 1.89 billion by 2028 owing to higher shelf life compared to the dry form, resulting in the better availability of nutritional elements for plants. Biostimulants in the suspension concentrate formulations are the most commonly available liquid form.
Liquid formulation activates the metabolic process within the plant metabolism and regulates plant osmotic effects, it is recommended for increasing the quality, size, and uniform ripening of fruit. Increasing necessity to expand the sown area through recovery of potentially productive but a currently idle land will propel the biostimulants market sales.
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In terms of region, Asia Pacific emerged as the largest and most influential region and is anticipated to cross USD 1.80 billion by 2028 owing to agriculture-driven economies including China, India, and Australia. Moreover, factors such as growing middle-class population, rising adoption of these products to improve product quality, demand for sustainable agricultural solutions, and improved knowledge of farmers are expected to further fuel the APAC biostimulants market growth.
Key players in the biostimulants industry are Arysta LifeScience Corporation., Biolchim S.p.A, Biovert SL, BASF SE, Bayer S.p.A., Desarrollo Agrícola y Minero, S.A., ILSA S.p.A., Italpollina S.p.A., Koppert B.V., Lallemand, Trade Corporation International, Valagro, Artal Agronutrientes, Mahafeed Specialty Fertilizers Pvt Ltd, Agrinos, Micromix, Biostadt India Limited, Agricultural Sciences, Inc., Ag Concepts, Produquimica (Compass Minerals), AGRICHEM, S.A, Stoller, BioAg, General Hydroponics Inc., Nutrien and Nutri-Tech Solutions Pty Ltd.
The companies are engaged in extensive research & development to develop innovative products to improve the quality & quantity of poultry meat yield. For instance, in February 2020, Valagro acquired stakes in Mirnagreen which is global leader in the field of plant micro RNAs based in Bolzano, Italy, and strengthen its market position in the region. In July 2017, Valagro signed an agreement with Syngenta, an agriculture-focused company, to supply biostimulants for seed treatment, share technical know-how, and launch innovative products & solutions for the farmer’s community.
In October 2020, Agrinos company merged with American Vanguard Corporation to enhance its product portfolio and extend global participation in biostimulants. This new product development would enable the company to strengthen its position in the market.
In August 2020, the Stoller company launched a package with three integrated solutions, an inoculant, a fungicide, and a biostimulant for soy in Argentina and strengthen its market position in the region.
The global biostimulants market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons & revenue in USD million from 2022 to 2028 for the following segments:
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