Plant Biostimulants

Plant Biostimulants

Global Plant Biostimulants Market to Reach US$8.0 Billion by 2030

The global market for Plant Biostimulants estimated at US$3.8 Billion in the year 2023, is expected to reach US$8.0 Billion by 2030, growing at a CAGR of 11.2% over the analysis period 2023-2030. Amino Acid-based Biostimulants, one of the segments analyzed in the report, is expected to record a 9.2% CAGR and reach US$1.7 Billion by the end of the analysis period. Growth in the Humic Acid-based Biostimulants segment is estimated at 10.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$651.4 Million While China is Forecast to Grow at 14.4% CAGR

The Plant Biostimulants market in the U.S. is estimated at US$651.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$984.5 Million by the year 2030 trailing a CAGR of 14.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.9% and 10.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR.

Global Plant Biostimulants Market - Key Trends & Drivers Summarized

Plant biostimulants are substances that are distinct from fertilizers and organically promote plant growth if applied in little quantities. Biostimulants are used on leaves or seeds of cereals, soil, fruits, grains, oilseeds, vegetables, ornamentals & turfs, and crop plantations to augment tolerance to environmental stress, nutrient availability, metabolism, chlorophyll production, and water-holding capacity. Furthermore, biostimulants increase antioxidant activity and promote cell enlargement and root development of a plant. Biostimulants are natural and eco-friendly substances that promote plant tolerance towards abiotic stress, uptake of mineral nutrients, and vegetative growth. Biostimulants in an advanced agriculture system are obtained from various communities of microorganisms that occur naturally and biochemical products such as proteins, organic acids, hormones, and enzymes produced by microorganisms. With compelling advantages in terms of crop productivity and yield, biostimulants are set to become a new phenomenon in the field of agriculture. Biostimulants are extensively utilized in global agricultural production and effectively contribute to dealing with the challenges presented by the rise in the global population.

The market for plant biostimulants has been expanding significantly, driven by increasing demand for sustainable agricultural practices and the need to meet global food security challenges. Recent advancements in biostimulant formulations and delivery mechanisms have made these products more effective and easier to apply. Innovations in biotechnology and a better understanding of plant physiology have led to the development of highly specific biostimulant products tailored to particular crops and climatic conditions. Companies are not only combining conventional nutrition products with biostimulants, but also offering technological services to deliver added value to growers. The effectiveness of biostimulants depends on specialized and professional support that involves analysis of specific requirements of crops to find appropriate doses and methods for ensuring effective use of solutions to increase production. These approaches can be supported by application of advanced technology, often termed as Agriculture 4.0, representing a sustainable approach due to efficient use of crop inputs.

The growth in the plant biostimulants market is driven by several factors. The market growth is being driven by rising concerns over food security, continuing shift towards sustainable products and favorable government policies. Burgeoning population in countries like India and China along with the resulting demand for food products is one of the primary drivers for the global market. Advances in biotechnology and agricultural sciences have led to the creation of more effective biostimulant products that cater to specific crop needs and environmental conditions. Climate change and the associated increase in abiotic stresses on crops, such as drought and salinity, have made biostimulants an attractive solution for enhancing crop resilience. Future expansion of the global market is anticipated to be facilitated by rising awareness about sustainability benefits of these products along with government policies and guidelines to aid adoption of environmentally-friendly products across agricultural practices. Rising awareness among farmers about the benefits of biostimulants, supported by educational initiatives and positive trial results, is also accelerating their market penetration.

Select Competitors (Total 157 Featured) -

• Acadian Seaplants Limited
• Agrinos AS
• Bayer AG
• Biolchim S.p.A
• FMC Corporation
• Gowan Company, L.L.C
• Haifa Group
• ILSA S.p.A.
• Koppert B.V.
• Novozymes A/S
• Rovensa Next
• Syngenta Crop Protection AG
• UPL Ltd.
• Yara International ASA

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