Biostimulants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Biostimulants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global biostimulants market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.0 Billion by 2028, exhibiting a growth rate (CAGR) of 10.5% during 2023-2028. The rising adoption of organic farming methods, increasing need for enhanced and safe crop yields, and rising environmental concerns represent some of the key factors driving the market.

Biostimulants refer to natural and microbe-based agriculture chemical or substance that is applied to seeds and plants for enhanced plant growth. They comprise various raw materials, such as humic, fulvic, amino acid, and seaweed and plant extracts, and are widely available in dry and liquid form. They reduce the dependency on fertilizers and pesticides and enhance nutrient uptake while improving crop productivity. They increase plant growth, metabolism, grain fill, uniformity, and overall crop quality. They assist in promoting improved germination and root development that causes improved vigor and abiotic stress resistance. They also aid in supporting sustainable agricultural practices that enhance soil fertility and water uptake. They maximize the biological efficiencies of a plant and benefit in better crop yields with more nutrients. As they increase the resistance to pathogens in crops and plants, biostimulants are utilized for foliar, soil, and seed treatment across the globe.

Biostimulants Market Trends:
At present, the rising demand for biostimulants due to the increasing consumption of food worldwide represents one of the key factors supporting the growth of the market. Besides this, the growing demand for biostimulants due to the increasing awareness among individuals about the adverse effects of synthetic pesticides and fertilizers is offering a positive market outlook. Additionally, there is a rise in the need for high-quality, safe, and environmental-friendly food products among the masses around the world. This, coupled with the increasing adoption of organic farming methods for agriculture sustainability that reduces environmental pollution, is propelling the growth of the market. Apart from this, the rising demand for biostimulants, as they protect crops from various diseases and provide treatments, is offering lucrative growth opportunities to industry investors. Moreover, the wide availability of biostimulants that are rich in minerals, plant hormones, and amino acids is positively influencing the market. In addition, governing agencies of various countries are encouraging the adoption of biostimulants by organizing numerous campaigns to educate farmers about bio-agriculture solutions and to produce high-quality products with no emissions, which is contributing to the growth of the market. Furthermore, the rising utilization of biostimulants in oilseeds and pulses, cereals and grains, and fruits and vegetables is strengthening the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biostimulants market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, crop type, form, origin, distribution channel, application and end-user.

Product Type Insights:

Acid-based
Humic Acid
Fulvic Acid
Amino Acid
Extract-based
Seaweed Extract
Other Plant Extracts
Others
Microbial Soil Amendments
Chitin & Chitosan
Others

The report has provided a detailed breakup and analysis of the biostimulants market based on the product type. This includes acid-based (humic acid, fulvic acid, and amino acid), extract-based (seaweed extract and other plant extracts), and others (microbial soil amendments, chitin and chitosan, and others). According to the report, acid-based (humic acid, fulvic acid, and amino acid) represented the largest segment.

Crop Type Insights:

Cereals and Grains
Fruits and Vegetables
Turf and Ornamentals
Oilseeds and Pulses
Others

A detailed breakup and analysis of the biostimulants market based on the crop type has also been provided in the report. This includes cereals and grains, fruits and vegetables, turf and ornamentals, oilseeds and pulses, and others. According to the report, cereals and grains accounted for the largest market share.

Form Insights:

Dry
Liquid

A detailed breakup and analysis of the biostimulants market based on the form has also been provided in the report. This includes dry and liquid. According to the report, dry accounted for the largest market share.

Origin Insights:

Natural
Synthetic

A detailed breakup and analysis of the biostimulants market based on the origin has also been provided in the report. This includes natural and synthetic. According to the report, natural accounted for the largest market share.

Distribution Channel Insights:

Direct
Indirect

A detailed breakup and analysis of the biostimulants market based on the distribution channel has also been provided in the report. This includes direct and indirect. According to the report, direct accounted for the largest market share.

Application Insights:

Foliar Treatment
Soil Treatment
Seed Treatment

A detailed breakup and analysis of the biostimulants market based on the application has also been provided in the report. This includes foliar treatment, soil treatment, and seed treatment. According to the report, foliar treatment accounted for the largest market share.

End-User Insights:

Farmers
Research Organizations
Others

A detailed breakup and analysis of the biostimulants market based on the end-user has also been provided in the report. This includes farmers, research organizations, and others. According to the report, farmers accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others) was the largest market for biostimulants. Some of the factors driving the Europe biostimulants market included the growing preference towards sustainable agriculture, development of innovative agriculture products, increasing organic farming, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global biostimulants market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Agrinos AS, Adama LTD., BASF SE, Bayer, Biolchim SpA., Biostadt India Ltd., Isagro, Italpollina SpA, Koppert B.V., Novozymes, Syngenta, Valagro SpA, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global biostimulants market in 2022?
2. What is the expected growth rate of the global biostimulants market during 2023-2028?
3. What are the key factors driving the global biostimulants market?
4. What has been the impact of COVID-19 on the global biostimulants market?
5. What is the breakup of the global biostimulants market based on the product type?
6. What is the breakup of the global biostimulants market based on the crop type?
7. What is the breakup of the global biostimulants market based on the form?
8. What is the breakup of the global biostimulants market based on the origin?
9. What is the breakup of the global biostimulants market based on the distribution channel?
10. What is the breakup of the global biostimulants market based on the application?
11. What is the breakup of the global biostimulants market based on the end-user?
12. What are the key regions in the global biostimulants market?
13. Who are the key players/companies in the global biostimulants market?