In terms of revenue, the Global Biostimulants Market is expected to reach USD 5.8 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.9% from 2022 to 2028.
Global food and agricultural production systems are confronted with previously unheard-of problems, including increased hunger and malnutrition, unfavorable consequences of climate change, overuse of natural resources, loss of biodiversity, and food loss and waste. As a result, there is a rising desire for food that has been produced responsibly, using more biological ingredients and fewer synthetic chemicals. Hence, Biostimulants are helping to address this issue in a sustainable manner, by offering protection against stress and thus stimulating the growth of the plant.
Key Highlights from Report:
● Among the Active Ingredients, the amino acids sub-segment is anticipated to dominate the Biostimulants Market during the forecast period. This dominance is due to the higher price of amino acids.
● The Fruits & Vegetable segment accounted for the largest market share of the crop type segment. This segment is expected to do well owing to increased use of Biostimulants on crops, including fruits and vegetables, to improve quality and maintain standards in accordance with export regulations.
● Europe held the largest Biostimulants Market share and is anticipated to be the most profitable market during the forecast period. Italy, Spain, and France are the major drivers of higher consumption of Biostimulants in the region.
Producers of agricultural products must think of ways to improve their effectiveness and efficiency during the next ten years. Biostimulants can effectively and sustainably solve this problem by providing protection against stressand promoting plant development. Furthermore, due to rising consumer awareness regarding the advantages of organic foods, the implementation of organic standards, and the acceptance of GLOBALGAP (Global Good Agricultural Practices) policies, the market for Biostimulants is anticipated to expand in the upcoming years.
Several manufacturers have the chance to develop new products in the Biostimulants and plant growth promotor segments because of technological advancements in the Biostimulants industry. Initially, Biostimulants were only used for fruit crops and vegetables, together with other high-value crops such as plantation crops and ornamentals. Today, they also play an important role in traditional food crops such as wheat, corn, and rice, by being used as an added compliment with fertilizers to catalyze the nutrient uptake process of the crops.
Europe market is anticipated to observe considerable market growth, with the highest growth rate during the forecast period. This is related to rising organic food consumption and rising manufacturer preference for environmentally friendly & sustainable production methods. The was the second-largest regional market in 2021 due to the presence of several manufacturing firms and the quick expansion of economies centered on agriculture, such as India and China. Market expansion will be supported by the rising product use brought on by population growth, soil degradation, growing farmer knowledge, stringent government restrictions & incentives for the use of Biostimulants, and the demand for more environmentally friendly ways to improve products.
The Global Biostimulants Market is Segmented as follows:
- Active Ingredients
- Humic Substances
- Humic Acid
- Fulvic Acid
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Other Active Ingredients (including Vitamins, Trace Minerals, & Polysaccharides)
- Mode of Application
- Foliar Treatment
- Soil Treatment
- Seed Treatment
- Crop Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Turfs & Ornamentals
- Others (Forage & Plantation Crops)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Biostimulants Market is:
BASF SE, UPL, Valagro S.P.A, Gowan Company, FMC Corporation, ILSA S.P.A., Rallis India Limited, Haifa Group, ADAMA LTD, Biovert S.L., Koppert Biological Systems, Tradecorp International, Agritecno, Axeb Biotech SL, Mafa Bioscience, Lawrieco, Devi Crop Science, Bioflora Agricen, Bonumose Inc.
The Global Biostimulants Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|