Biostimulants are biologically produced fertilizers that are used to stimulate plant development and productivity, in addition to the nourishment of agrarian products. A biostimulant boosts plant development and growth throughout the crop life cycle, i.e., from seed germination to plant maturity. These fertilizers further help in facilitating nutrient translocation, assimilation, and use; and enhance soil fertility mainly by stimulating the development of interdependent soil microorganisms.
An increase in focus to increase crop productivity and quality drives the surging demand for biostimulant products in the market. Another significant factor influencing the market growth is the introduction of sustainable agriculture to protect the environment from adverse effects, especially in Europe and North America. However, low awareness about the advantages of biostimulants in agricultural activities among the farmers impedes the market growth.
Population growth has increased the desire for improved agricultural yields and quality, which can be reached by employing biostimulants. Plants' resistance to unfavorable impacts such as severe temperature, salt, water scarcity, and others is increased by biostimulants. Biostimulant assists to improve product quality, resulting in healthier and more nutritious food for customers and higher revenue for crop growers. These contribute to the protection and improvement of the soil's quality. Furthermore, they aid in the formation of microorganisms in the soil, which aids in the effective retention of water. These characteristics contribute to increased yields and crop quality, which are likely to drive biostimulant demand throughout the forecast period.
Biostimulants have been associated with organic agriculture for ages. The biostimulants play a significant role in conventional agriculture as a complement to crop nutrition and protection. Enhanced root growth, better root growth potential, better stress resistance, and a decrease in nitrogen levels of fertilization are some of the benefits offered by biostimulants, which help promote sustainable agriculture. These help to enhance plant metabolism and act on the physiological mechanisms of crops to increase resistance and the recovery of the plant in abiotic stressful situations. Microbial biostimulants are used as a substitute to decrease the consumption of plant protection products such as pesticides. As biostimulants have a high contribution to sustainable agriculture, their demand is anticipated to increase shortly.
The government of several European countries has encouraged the production of bio-based chemicals to maximize the yield and protection of crops. In line with this, the European Biostimulant Industry Consortium (EBIC) is proactively involved in promoting sustainable agriculture and boosting the European Biostimulant Industry. EBIC recognizes the contribution of biostimulants to green innovation, sustainable agricultural production, economic growth, and other European Union (EU) policy objectives. According to EBIC, around 8.5 million hectares of land in Europe were treated with biostimulants in 2016. Such measures are expected to bring new opportunities to crop growers in European countries.
Biostimulants offer a wide range of benefits such as high nutrient availability, improved plant metabolism, better water holding capacity, and others. As awareness regarding the benefits of biostimulants is sparse, their adoption among farmers is low. Some of the products have poor positioning in the market, due to a lack of awareness and limited knowledge among market participants. Every chemical has a threshold dose, above which it poses threat to the environment. Similarly, biostimulants have a threshold dosage, above which it can cause adverse effects on consumer health. In line with this, the agricultural and food safety policies in Europe have several protocols relating to the usage of biostimulants in agricultural applications.
The biostimulant market is segmented on the basis of product type, crop type, application, and region. On the basis of product type, the market is classified into acid-based, extract-based, and others. By crop type, the market is categorized into row crops & cereals, fruits & vegetables, turfs & ornamentals, and others. On the basis of application, the market is divided into foliar spray, soil, and seed. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Turkey, South Africa, and rest of LAMEA).
The players operating in the global biostimulant market have adopted various developmental strategies to expand their biostimulant market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BASF SE, Biolchim S.p.A., Biostadt India Limited, Biovert S.L., Hello Nature, Isagro S.p.A., Koppert B.V., Lallemand, Inc., Novozymes A/S, and Valagro.
An increase in focus to increase crop productivity and quality drives the surging demand for biostimulant products in the market. Another significant factor influencing the market growth is the introduction of sustainable agriculture to protect the environment from adverse effects, especially in Europe and North America. However, low awareness about the advantages of biostimulants in agricultural activities among the farmers impedes the market growth.
Population growth has increased the desire for improved agricultural yields and quality, which can be reached by employing biostimulants. Plants' resistance to unfavorable impacts such as severe temperature, salt, water scarcity, and others is increased by biostimulants. Biostimulant assists to improve product quality, resulting in healthier and more nutritious food for customers and higher revenue for crop growers. These contribute to the protection and improvement of the soil's quality. Furthermore, they aid in the formation of microorganisms in the soil, which aids in the effective retention of water. These characteristics contribute to increased yields and crop quality, which are likely to drive biostimulant demand throughout the forecast period.
Biostimulants have been associated with organic agriculture for ages. The biostimulants play a significant role in conventional agriculture as a complement to crop nutrition and protection. Enhanced root growth, better root growth potential, better stress resistance, and a decrease in nitrogen levels of fertilization are some of the benefits offered by biostimulants, which help promote sustainable agriculture. These help to enhance plant metabolism and act on the physiological mechanisms of crops to increase resistance and the recovery of the plant in abiotic stressful situations. Microbial biostimulants are used as a substitute to decrease the consumption of plant protection products such as pesticides. As biostimulants have a high contribution to sustainable agriculture, their demand is anticipated to increase shortly.
The government of several European countries has encouraged the production of bio-based chemicals to maximize the yield and protection of crops. In line with this, the European Biostimulant Industry Consortium (EBIC) is proactively involved in promoting sustainable agriculture and boosting the European Biostimulant Industry. EBIC recognizes the contribution of biostimulants to green innovation, sustainable agricultural production, economic growth, and other European Union (EU) policy objectives. According to EBIC, around 8.5 million hectares of land in Europe were treated with biostimulants in 2016. Such measures are expected to bring new opportunities to crop growers in European countries.
Biostimulants offer a wide range of benefits such as high nutrient availability, improved plant metabolism, better water holding capacity, and others. As awareness regarding the benefits of biostimulants is sparse, their adoption among farmers is low. Some of the products have poor positioning in the market, due to a lack of awareness and limited knowledge among market participants. Every chemical has a threshold dose, above which it poses threat to the environment. Similarly, biostimulants have a threshold dosage, above which it can cause adverse effects on consumer health. In line with this, the agricultural and food safety policies in Europe have several protocols relating to the usage of biostimulants in agricultural applications.
The biostimulant market is segmented on the basis of product type, crop type, application, and region. On the basis of product type, the market is classified into acid-based, extract-based, and others. By crop type, the market is categorized into row crops & cereals, fruits & vegetables, turfs & ornamentals, and others. On the basis of application, the market is divided into foliar spray, soil, and seed. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Turkey, South Africa, and rest of LAMEA).
The players operating in the global biostimulant market have adopted various developmental strategies to expand their biostimulant market share, increase profitability, and remain competitive in the market. The key players profiled in this report include BASF SE, Biolchim S.p.A., Biostadt India Limited, Biovert S.L., Hello Nature, Isagro S.p.A., Koppert B.V., Lallemand, Inc., Novozymes A/S, and Valagro.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biostimulant market analysis from 2020 to 2031 to identify the prevailing biostimulant market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the biostimulant market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global biostimulant market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Acid-Based
- Extract-Based
- Others
By Crop Type
- Row Crops And Cereals
- Fruits And Vegetables
- Turf And Ornamentals
- Other Crops
By Application
- Foliar Spray
- Soil
- Seed
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Turkey
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- Biolchim S.p.A.
- biostadt india limited
- Biovert S.L.
- Hello Nature
- Isagro S.p.A.
- Koppert B.V.
- Lallemand, Inc.
- Novozymes A/S
- Valagro
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIOSTIMULANT MARKET, BY PRODUCT TYPE
CHAPTER 5: BIOSTIMULANT MARKET, BY CROP TYPE
CHAPTER 6: BIOSTIMULANT MARKET, BY APPLICATION
CHAPTER 7: BIOSTIMULANT MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Biostimulant Market,' the biostimulant market was valued at $2,572.60 million in 2020, and is estimated to reach $8,004.10 million by 2031, growing at a CAGR of 10% from 2022 to 2031.Biostimulants are naturally derived fertilizer additives used to enhance plant growth and productivity. These products also contribute toward the nutritional enhancement of agricultural products. Acid and extract-based biostimulants are the major types of biostimulants available in the market. Acid-based biostimulants include humic acid, fulvic acid, and amino acid, whereas seaweed extracts and other plant extracts are considered under plant extracts. Various regulations are imposed on the use of biostimulants by regulatory bodies.An increase in demand for high crop yields and quality, and a focus on sustainable agriculture to protect the environment drive the growth of biostimulant products. However, a lack of education and awareness among farmers about the benefits of using biostimulant in agricultural activities is expected to impede the biostimulant market growth shortly.
The harmful effects of synthetic fertilizers and pesticides on the environment and humans have raised concerns for the government and other agencies. However, the use of fertilizers cannot be cut off completely, as this would have a negative effect on the demand-supply gap of food production. Furthermore, government organizations have taken aggressive efforts to regulate the manufacturing and use of environment-friendly items, such as prohibiting the use of specific chemicals and establishing maximum consumption restrictions. Thus, there is an urgent need to produce bio-based agrochemicals to minimize the hazardous effects of synthetic agrochemicals on the environment. In addition, the growing inclination of consumers toward using bio-based products, especially in the Asia-Pacific region has presented new opportunities for market players. Furthermore, the benefits associated with usage of biostimulants, such as low toxicity, high specificity, and enhanced efficiency have led to higher adoption of such products. Thus, numerous biostimulant market opportunities exist in the market for the development of biostimulants.
By value, North America and Asia-Pacific collectively contributed approximately 40% share of the global market in 2021.The emerging countries such as Australia, Mexico, and Japan display a huge growth potential for this market on account of high agricultural operation, and decent number of population shifting toward agricultural sector in these countries.
The biostimulant market is segmented on the basis of product type, crop type, application, and region. On the basis of product type, the market is classified into acid-based, extract-based, and others. By crop type, the market is divided into row crops & cereals, fruits & vegetables, turfs & ornamentals, and others. On the basis of application, the market is categorized into foliar spray, soil, and seed. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Turkey, South Africa, and rest of LAMEA).
KEY FINDINGS OF THE STUDY
On the basis of biostimulant market analysis for region, Europe accounted for the largest biostimulant market share, registering a significant CAGR from 2022 to 2031, followed by North America.On the basis of biostimulant market trends in 2021, the row crops & cereals crop type segment accounted for approximately $ 65% share, in terms of value, and is expected to grow at the highest rate.
North America is anticipated to grow at the highest CAGR of 9.8% from 2022 to 2031 in the biostimulant market forecast period.
In 2021, the U.S. generated the highest revenue, accounting for approximately $ 20% share of the biostimulant industry.
Brazil biostimulant market size is anticipated to grow at a significant CAGR of 10.2% during the forecast period.
Companies Mentioned
- BASF SE
- Biolchim S.p.A.
- biostadt india limited
- Biovert S.L.
- Hello Nature
- Isagro S.p.A.
- Koppert B.V.
- Lallemand, Inc.
- Novozymes A/S
- Valagro
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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