U.S. Plant Biostimulants Market - 2023-2030

U.S. Plant Biostimulants Market - 2023-2030

U.S. Plant Biostimulants Market reached US$ 1.4 billion in 2022 and is expected to reach US$ 2.9 billion by 2030, growing with a CAGR of 9.7% during the forecast period 2023-2030.

Farmers in the U.S region are highly adopting plant biostimulants as they provide good amounts of chemicals, substances, and micro-organisms, they help in enhancing the nutritive uptake of plants and also help in supporting support the growth and production of crops, Therefore, these factors can contribute to the growth of the plant biostimulants market in the United States.

Furthermore, as the demand for biostimulants is increasing, manufacturing companies in this region are producing different products to attract larger consumer bases, for instance, Hello Nature USA, Inc., the company produces Phosphit-One is an innovative plant booster, which stabilizes nutritional imbalances in plants for more robust and vibrant growth, higher yield, and better quality traits of fruits.

The fulvic acid biostimulants segment accounts holds the maximum share in the U.S plant biostimulants market, as they increase the enhancement of the availability of nutrients in the soil, and also help in increasing the quality and productivity of crops, Hence, such factors can help in driving the U.S plant biostimulants market growth.

Dynamics

Rising Demand For Sustainable Crop Solutions

The demand for sustainable crop solutions such as plant biostimulants is increasing among farmers for various crop types as they help enhance soil health by promoting beneficial microbial activity, increasing organic matter, and improving nutrient availability. Hence, they can help contribute to the expansion of market growth.

Furthermore, as the demand for these products is increasing, manufacturers strategically planning to expand their manufacturing units, for instance, in October 2022, Valent BioSciences LLC company had launched a new biostimulant operating unit to serve the entire U.S. market. The company is focusing on discovering, developing, and commercializing arbuscular mycorrhizal fungi (AMF) products, among other biostimulants, to sustainably maximize retailer and grower profitability.

Rising In Product Development

The rise in product development can significantly help drive the U.S. plant biostimulants market, as the continuous innovation and improvements in formulations, application methods, and the overall efficacy of plant biostimulants contribute to their broader adoption in agriculture. Hence, it can help in driving the market growth.

Furthermore, as the demand for sustainable crop solutions is increasing, manufacturing companies are developing innovative products in their portfolios, for instance, Haifa Negev Technologies LTD company produces HaifaStim a range of specialty plant biostimulants, it is a nutritional supplement carefully formulated to reinforce the plant and to improve its growth environment, in order to support optimal growth, alleviate stresses, boost yields and to maximize quality.

High Product Cost

The high product cost can significantly restrain the growth of the U.S. plant biostimulants market, the sourcing, and processing of high-quality raw materials can be complex and can add additional expenses which can significantly impact the overall production cost of biostimulants. Therefore the production cost can cause declination in market growth.

Segment Analysisn

The U.S. plant biostimulants market is segmented based on ingredient, form, mode of application, and crop type.

Increase in Demand for Effective Fulvic Acid Biostimulants

The Fulvic Acid biostimulants segment accounts for the maximum share of U.S plant biostimulants, The fulvic acid biostimulants are applied as a foliar spray, they enhance the availability and uptake of essential nutrients, improve soil structure, stimulate root growth, and others.

Furthermore, a manufacturing company is producing different variety of products by using fulvic acid, for instance, BioLine Corporation company produces BioLiNE Gold is a superior fulvic acid product with unparalleled performance and potency. It is a naturally occurring organic acid with numerous benefits to crop and soil health. BioLiNE Gold is a highly purified, concentrated fulvic acid. Therefore, such product developmets can help in increasing the market growth.

Competitive Landscape

The major global players in the market include UPL, BASF SE, Koppert, VALAGRO S.P.A, Humic Growth Solutions Inc., Hello Nature USA, Inc., Corteva., BioLine Corporation., and Haifa Negev Technologies LTD.

COVID-19 Impact Analysis

The pandemic has created unprecedented challenges for industries worldwide, including the U.S. plant biostimulants market. As countries grappled with lockdowns, supply chain disruptions, and reduction in agricultural activities, which had a significant impact on the growth of the U.S. plant biostimulants market.

Furthermore, the agriculture sector is also affected as the cost, import, and export of raw materials and products are impacted due to the pandemic effect, and the availability of products in the market is also limited due to shout down of various manufacturing companies, hence, the COVID-19 had shown a negative impact the growth of U.S plant biostimulants market.

By Ingredient
• Acids
• Fulvic Acid
• Humic Acid
• Amino Acid
• Seaweed Extracts
• Microbial
• Vitamins
• Trace Minerals
• Others

By Form
• Liquid
• Granules

By Mode of Application
• Foliar
• Fertigation
• Soil
• Others

By Crop Type
• Fruits & Vegetables
• Others

Key Developments
• In January 2023, Sumitomo Chemical acquired FBSciences Holdings, Inc. (“FBS”), a U.S. company engaged in the business of biostimulants, a group of naturally-derived agricultural materials, and a class of biorationals. The acquisition is due to be completed subject to the prescribed procedures.
• In December 2023, Rovensa Group acquired Agro-K, a leading family-owned biostimulants developer in the U.S. Agro-K will be integrated over time into Rovensa Next, the business unit dedicated to bio solutions for agriculture.
• In October 2022, Valent BioSciences LLC acquired FBSciences Holdings, Inc. with this acquisition, the Valent BioSciences began selling biostimulant products directly to its U.S. customer base. This acquisition will provide a growth platform for the two companies’ wide range of crop enhancement and crop protection products.

Why Purchase the Report?
• To visualize the U.S. plant biostimulants market segmentation based on ingredient, form, mode of application, and crop type. and region, as well as understanding key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of cement market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The U.S. plant biostimulants market report would provide approximately 42 tables, 33 figures, and 210 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies