Biostimulants Market- Global Industry Analysis and Forecast (2022-2029)

Biostimulants market was valued at US$ 3.19 Bn. in 2021 and it is expected to reach US$ 8.20 Bn. by 2029 at CAGR of 12.5% during the forecast period.
Biostimulants Market Overview:
Biostimulants are becoming increasingly important in the development of sustainable agriculture techniques. In recent years, instances of environmental dangers and soil pollution resulting from the indiscriminate and excessive application of chemical-based products on crops have become a major concern for the business. Biostimulants are a good alternative to chemical-based agricultural goods, and they're replacing them at a faster rate due to their environmental friendliness and effectiveness.

 



To know about the Research Methodology :- Request Free Sample Report

Prominent manufacturers in Biostimulant, such as Biostadt India Limited, specialize in customizing product solutions for specific crop types and soil conditions. They also teach farmers about the advantages of these excellent agro products, as well as growing the company's geographic reach. Through diverse expansion plans, key businesses are working on increasing their position in current market conditions, particularly in emerging economies.

Backward and forward integration is being used by businesses to boost profit margins and negotiation strength. Over the estimated period, this almost certainly increases competitiveness. Through 2025, research and development initiatives, as well as growing product lines, are expected to have a significant impact on the overall competitive environment.

The report has covered the market trends from 2017 to forecast the market through 2029. 2021 is considered a base year however 2021’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done good in lockdown also and specific strategic analysis of those companies is done in the report.
Biostimulants Market Dynamics:
Biostimulants are additives or microorganisms that come from nature. These are used to improve nutritional efficiency, crop quality, and soil quality in crop production and cultivation. Plants and crops are also given biostimulants to help them cope with stress, especially during droughts.

The market for biostimulants is growing because of the rising demand for organic food or more awareness about organic farming. The market is expanding as demand for high-quality food products with high nutritional value rises. Growing public awareness of the negative impacts of synthetic fertilizers, as well as government, attempts to encourage biostimulants, which provide profitable growth prospects.

On the other hand, the lack of laws governing product commercialization is slowing the market's growth rate. The market growth rate is further slowed by a lack of knowledge and availability of high-quality products in low- and middle-income countries. High costs linked with this direction's research and development capabilities are also stymied expansion.

The factors driving this continued growth are multiple:

• Biostimulant use is spreading from some developed countries to all over the globe, both within developed and developing countries. Related to this, biostimulants companies are increasing their professional networks and connecting with new global distributors who are assisting them to tap previously unreachable markets.

• The biostimulants sector has technologically advanced new innovative products pointing to specific agronomic needs, thus attracting new customers.

• Biostimulant products were primarily used in organic production and on high-value fruit and vegetable crops. They are increasingly being introduced in conventional crop production to respond to economic and sustainability imperatives.

• Recent high and volatile prices for inputs like fertilizers have created incentives for farmers to optimize the efficiency of input use.

• In response to consumer demands for healthy food products with slight environmental impacts, farmers are looking for ways to use synthetic chemicals and mineral fertilizers more efficiently and effectively. Biostimulants are therefore increasingly seen as a way to improve their ROI in other inputs and as a way to respond to consumer demands for “softer” agricultural practices.
Biostimulants Market Segmentation Analysis:
Based on the Active Ingredients: The biostimulants market is further segmented into Humic substances, Humic acid, Fulvic acid, Seaweed extracts, Microbial amendments, Amino acids, and Other active ingredients (include vitamins, trace minerals, and polysaccharides). Among these, the Amino Acids segment held the largest market share of the global market in 2021 and is expected to hold a steady position during the forecast period.

Amino acids are one of the most important sources of phytohormones, which aid in the activation of plant metabolic systems and seed germination. They encourage the plant to establish fruit, blossom, pollinate, and develop fruit. Humic compounds are naturally occurring end-products of microorganisms including bacteria and fungus, as well as chemical degradation of animal and plant wastes in soils.

Over the estimated period, seaweed extracts are expected to grow at the fastest rate. Because of the inclusion of plant growth chemicals such as cytokinins, auxins, and gibberellins carbohydrates, as well as several nutritive metal elements such as iron, aluminium, nitrogen, manganese, and potassium, these are mostly employed as biostimulants. Brown, green, and red algal extracts are commonly used seaweed extracts.

On the Basis of Application: The biostimulants market is further divided into Foliar, Soil Treatment, and Seed treatment. Among these, the foliar segment is expected to hold the largest market share of 81% by 2029, with a CAGR of 12.5% throughout the forecast period (2022-2029). Also, 12% of the biostimulant market has soil application formulations. Seed treatments are growing, with a market share of 8 percent. Seed treatment of biostimulants is growing, as prominent chemical companies are pointing to providing solutions for the seed industry.

In terms of Crop Type: The biostimulants market is further categorized into Cereals & grains, Oilseeds & pulses, Fruits & vegetables, Turfs & ornamentals, and Others (forage and plantation crops). The cereals and grains held the largest market share of 12.5% in 2021 and are expected to hold a steady position during the estimated period (2022-2029). The crops like corn, soybeans, barley, oats, millets, and cotton are grown broadly across the globe and offer productive growth opportunities for the biostimulants industry. Biostimulants increase the rate of seed size, cell division, & yields for row crops such as corn, barley, and soybeans. They contain amino acids, polyamines, & Indole-3-acetic acid (IAA), which help in controlling barriers to cell division and cell growth.



European Biostimulants Market:

Plant biostimulants deliver yield increases of 5-10%

Biostimulants, among other things, can improve nutrient use efficiency, allowing farmers to get a greater return on their fertilizer investment. This includes using nutrients in the soil that would otherwise be unavailable to plants, such as phosphorus solubilization into plant-available forms. These advances in nutrient usage reduce nutrient losses and the environmental consequences that come with them (and thus the cost of clean-up). There is a well-established correlation between adequate nutrition and high yields.

Abiotic stressors such as drought, severe temperatures, salt, and flooding are also made easier for plants by biostimulants. Crops redirect energy into stress responses in response to such difficult growing conditions, which can diminish yields. Stress can harm a plant in the absence of biostimulants. Biostimulants help plants adapt better with stress, ensuring that yields are higher than they would be without this "biological insurance." Although it is not their primary purpose, making plants more vigorous in the face of abiotic challenges is likely to make them less susceptible to illness, in the same way, that eating a good, balanced diet reduces your chances of becoming sick.

Biostimulants manufacturers reinvest 3-10% of turnover into R&D

It takes 2–5 years to bring new products to market, which is a major expenditure given how little protection there is against biostimulant product copies/reverse engineering. Some EBIC member companies have stated that only about 10% of their items are patentable (and some even said none can be patented). A few others claim that 60 percent or more of their products contain patented elements, albeit this does not imply that the product as a whole is patent-protected. In many circumstances, a particular aspect of the manufacturing process is patented.

The majority of its members who answered EBIC surveys invest between 3% and 10% of their annual turnover in research and development, although others reinvest considerably more in innovation. Many organizations employ between 10% and 33% of their workforce in R&D, with a few companies falling significantly below that range. This implies a high R&D intensity when compared to other sectors, according to OECD. Members have also reported over 300 R&D collaborations with universities and other public research agencies. While the majority of these are in Europe, partners from Australia, Brazil, Canada, Chile, Ghana, Mexico, New Zealand, Turkey, and the United States are also represented. For example, In Mar 2020, BASF’s R&D projects for seeds, traits, and crop protection. The agreement will enable BASF’s agricultural research stations worldwide to use the delair.ai cloud platform to streamline & standardize the information gained through drone-based field studies.

The objective of the report is to present a comprehensive analysis of the global Biostimulants market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Biostimulant's dynamics, structure by analyzing the market segments and projecting the Biostimulants's size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Biostimulants market make the report investor’s guide.
Biostimulants Market Scope: Inquiry Before Buying



Biostimulants Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 3.19 Bn.


Forecast Period 2021 to 2029 CAGR:
12.5%
Market Size in 2029:
US $8.20 Bn.


 Segments Covered:
by Active Ingredients
• Humic substances
• Humic acid
• Fulvic acid
• Seaweed extracts
• Microbial amendments
• Amino acids
• Other active ingredients (include vitamins, trace minerals, and polysaccharides)


by Crop Type
• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Turfs & ornamentals
• Others (forage and plantation crops)


by Application
• Foliar
• Soil Treatment
• Seed treatment


by Form
• Liquid
• Dry



Biostimulants Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Biostimulants Market, Key Players
• BASF SE
• UPL
• Valagro S.p.A
• Gowan Group
• FMC Corporation
• ILSA S.p.A
• Rallis India Limited
• Haifa Group
• Eastman Chemical Company
• OMEX
• LALLEMAND Inc.
• Agrinos
• Brandt Consolidated, Inc
• Biolchim SPA
• Isagro
• Italpollina S.p.A.
• ADAMA Ltd
• KOPPERT BIOLOGICAL SYSTEMS
• Novozymes
• ACADIAN SEAPLANTS LIMITED
• ATLÁNTICA AGRICOLA
• Biostadt India Limited
• Trade Corporation International
• AGROENZYMAS
• MICROMIX
• Syngenta
• Bayer AG
• Others

Frequently Asked Questions:

1. Which region has the largest share in Biostimulants Market?
Ans: Europe held the largest share in 2021.

2. What is the growth rate of the Biostimulants Market?
Ans: The Biostimulants Market is growing at a CAGR of 12.5% during the forecasting period 2022-2029.

3. What segments are covered in the Biostimulants market?
Ans: Biostimulants Market is segmented into Active Ingredients, Application, Form, Crop Type, and Region.

4. Who are the key players in the Biostimulants market?
Ans: The important key players in the Biostimulants Market are – BASF SE, UPL, Valagro S.p.A, Gowan Group, FMC Corporation, ILSA S.p.A, Rallis India Limited, Haifa Group, Eastman Chemical Company, OMEX, LALLEMAND Inc., Agrinos, Brandt Consolidated, Inc, Biolchim SPA, Isagro, Italpollina S.p.A., ADAMA Ltd, KOPPERT BIOLOGICAL SYSTEMS, Novozymes, ACADIAN SEAPLANTS LIMITED, ATLÁNTICA, AGRICOLA, Biostadt India Limited, Trade Corporation International, AGROENZYMAS, MICROMIX, Syngenta, Bayer AG, and Others.

5. What is the study period of this market?
Ans: The Biostimulants Market is studied from 2021 to 2029.