Brazil Biostimulants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Brazil Biostimulants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

The Brazil Biostimulants Market size is estimated at USD 306.60 million in 2024, and is expected to reach USD 520.09 million by 2029, growing at a CAGR of 11.15% during the forecast period (2024-2029).

Key Highlights

• Seaweed Extracts is the Largest Form : Seaweed extracts are dominant due to their richness in micro/macro elements, humic acids, and phytohormones, and their ability to enhance soil bacteria and plant resistance.
• Amino Acids is the Fastest-growing Form : The growth of Amino acid-based biostimulants is driven by the greater availability of aminoacid based biostimulants and growing farmer awareness of their benefits.
• Row Crops is the Largest Crop Type : The major row crops grown in Brazil include soybean, corn, rice and wheat. In these crops the application of biostimulants is increasing as part of integrated crop management.
• Row Crops is the Fastest-growing Crop Type : Row crops are dominating the Brazil biofertilizers market with a market share of 79.2%, this is due the increasing organic acreage, from 2017 to 2022, 23.3% increased.

Brazil Biostimulants Market Trends

Seaweed Extracts is the largest Form

• The agriculture industry is one of the major industries in the country, with a total agricultural area of about 85.0 million hectares as of 2021. This large agriculture area accounted for about 64.0% of the South American biostimulants market value in 2022.
• The dominant biostimulant in the market is seaweed extract-based biostimulant, valued at about USD 143.2 million in 2022. The adoption of these biostimulants is increasing, and the market value of seaweed-based biostimulants is expected to reach USD 307.1 million by the end of the forecast period.
• The Brazilian government is promoting the use of sustainable or biobased products through a program called The National Program for Biobased Agricultural Input. According to this program, at least 40 million hectares of area are grown with plant growth promoters and inoculants, which may drive the demand for biostimulant products during the forecast period.
• From 2017 to 2021, the market value of other biostimulants rose by roughly 12.7%. Other biostimulants used in agriculture include chitosan and biopolymers, microbial supplements, some inorganic compounds originating from plant and animal bodies, and plant growth regulators. In 2022, other biostimulants accounted for 24.0% of the biostimulants market value in Brazil. The other biostimulants' market value is expected to reach USD 111.2 million by the end of the forecast period.
• The growing knowledge among farmers about the importance of biostimulants in increasing crop resistance to biotic and abiotic stress, enhancing nutrient absorption, and their application in both organic and non-organic farms will drive the market during the forecast period.

Brazil Biostimulants Industry Overview

The Brazil Biostimulants Market is fragmented, with the top five companies occupying 5.47%. The major players in this market are Atlántica Agrícola, Humic Growth Solutions Inc., Trade Corporation International, Valagro and Vittia Group (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support