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

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

The India Biostimulants Market size is estimated at USD 188.19 million in 2024, and is expected to reach USD 310.14 million by 2029, growing at a CAGR of 10.51% during the forecast period (2024-2029).

Key Highlights

• Seaweed Extracts is the Largest Form : Seaweed extract biostimulants shows beneficial effects on plants increases overall plant growth and productivity and increases resistance to biotic and abiotic stresses.
• Amino Acids is the Fastest-growing Form : Amino acids can be used at any stage of cultivation and improve the stages of rooting, growth, flowering, fruit set, and fattening, in biotic and abiotic stress conditions
• Row Crops is the Largest Crop Type : Wheat, paddy, sorghum, millet, barley, and maize are the most important cereal crops grown in the country. Seaweed extracts are most consumed biostimulants in the row crops.
• Row Crops is the Fastest-growing Crop Type : Row crops are dominating the India biostimulant market holding 86.2% in 2022, this is because of row crops are accounted for largest organic cultivation area in the country.

India Biostimulants Market Trends

Seaweed Extracts is the largest Form

• Many biostimulants as active ingredients are used in the Indian biostimulants market, including humic acid, fulvic acid, amino acids, protein hydrolysates, seaweed extracts, chitosan, biopolymers, and other biostimulants such as plant and animal derivatives. The Indian biostimulants market was valued at USD 153.2 million in 2022 and grew by 15.7% between 2017 and 2022.
• Seaweed extract biostimulants have the largest market share in the Indian biostimulants market, accounting for 37.4% in 2022, with a market value of USD 57.2 million in 2022. This is due to their ability to improve the overall health of the plant, as well as their ability to improve stress tolerance, root growth, nutrition and water intake, plant growth, and crop yield.
• Row crops accounted for 86.2% of the biostimulants market value in 2022. This is because row crops accounted for approximately 82.3% of the total organic crop area in the country in 2022. Cash crops and horticultural crops account for 11.2% and 2.6% of the biostimulants market, respectively, in 2022.
• As the demand for organic food items is on the rise, the Indian government is promoting the production of organic crops, fruits, and vegetables through various schemes, like National Horticulture Mission, Horticulture Mission for North East and Himalayan States, Rashtriya Krishi Vikas Yojana, National Project on Management of Soil Health and Fertility, National Project on Organic Farming, Network Project on Organic Farming under Indian Council of Agricultural Research, and Paramparagat Krishi Vikas Yojana. These initiatives will boost the Indian biostimulants market.
• The Indian biostimulants market value is anticipated to grow by 81.2% during the forecast period, with a CAGR of 10.4%.

India Biostimulants Industry Overview

The India Biostimulants Market is fragmented, with the top five companies occupying 10.77%. The major players in this market are Biostadt India Limited, Coromandel International Ltd, Southern Petrochemical Industries Corporation, T.Stanes and Company Limited and Valagro (sorted alphabetically).

Additional Benefits:

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