The global biostimulants market size was valued at USD 3.12 billion in 2020, which is expected to reach USD 6.45 billion by 2027, registering a CAGR of 10.6% over the forecast period (2021-2027). Biostimulants are emerging as an important component that enhances plant development to enhance crop productivity and antioxidant activity of the soil. It mainly assists in fighting the climate uncertainty in the food & agriculture sector. Water retention capacity, nutrient intake, and metabolism are various functions of biostimulants. The rising trend for sustainable agriculture to protect the environment is expected to augment the global biostimulants market growth.
Factors Affecting the Biostimulants Industry over the Forecast Period:
- The increasing need for sustainable agriculture and the high demand for biostimulants in high-value crops drive the global biostimulants market.
- Factors such as rising protection of seed from rotting and limited entry barriers with new market entrants are anticipated to drive the global growth for the biostimulants market.
- The technological advancements and increasing ecological concerns in the food & agricultural sector have positively impacted the sales of biostimulants across the globe.
- However, a lack of awareness among farmers regarding biostimulants may restrain the growth of biostimulants in the global market over the forecast period.
Impact of COVID-19 on Biostimulants Market:
The COVID-19 pandemic has declined the global sales of biostimulants, backed by the disruption of supply and demand for biostimulants. The market for non-essential and expensive products has decreased significantly amidst the pandemic, leading to the decline in the growth of the biostimulants market in 2020. However, post the COVID-19 pandemic, the demand for biostimulants is expected to rise, owing to its increasing demand for chemical fertilizers.
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Scope of the Report
The report outlines the global biostimulants market study based on active ingredients, application, and crop type.
The biostimulants market has been segmented based on active ingredients –
- Humic substances
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Others (Polysaccharides)
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The biostimulants market has been segmented based on application –
- Foliar Treatment
- Soil Treatment
- Seed Treatment
The biostimulants market has been segmented based on crop type –
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Others (Forage)
Biostimulants Market: Regional Outlook
Based on the region, the global biostimulants market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, Europe held the largest share in the biostimulants market, followed by the Asia Pacific and North America due to regulations regarding increased production of organic foods in the region. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period, owing to various agriculture-driven economies and food consumption habits in the region.
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Key Global Bio Stimulants Market Competitors Includes –
The biostimulants market has the presence of a few market players across the globe. The key biostimulants market manufacturers operating in the global market are–
- Acadian Seaplants Ltd.
- Agriculture Solutions Inc.
- Agrinos AS
- Arysta Lifescience Corporation
- BASF SE
- Bayer AG
- Biolchim SpA
- Eastman Chemical Company
- FMC Corporation
- Italpollina SpA
- Koppert B.V.
- UPL Limited
- Valagro SpA.
The biostimulants market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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