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The biostimulants market size is forecast to increase by USD 1.74 billion at a CAGR of 11.21% between 2023 and 2028. This growth is driven by the increasing demand for sustainable agricultural practices, developments in agroscience, and the rising trend towards organic food production. Biostimulants, which are organic or microbial substances, enhance plant growth and improve crop yield, offering an eco-friendly alternative to synthetic fertilizers and pesticides. They help improve crop quality and quantity while reducing the environmental impact of agriculture.
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The market is gaining traction amidst concerns over population growth and climate change, driving the demand for sustainable agricultural solutions such as organic fertilizers. With a focus on preserving natural resources and mitigating biodiversity loss, biostimulants like protein hydrolysates and humic and fulvic acids offer organic alternatives to synthetic chemical fertilizers. They enhance soil condition and promote crop improvement while optimizing crop production and water irrigation practices for increased crop water efficiency. As agricultural practices evolve to address climatic scenarios and land fertility, they play a pivotal role in soil reclamation and revitalizing oilseeds and pulses production. By harnessing the power of beneficial microorganisms, they contribute to sustainable agriculture, supporting the growth of organic and high-quality products in both crop and turf and ornamentals markets.
The increasing demand for biostimulants in the agricultural industry is driving the market growth. They are diverse formulations comprising various compounds, substances, and microorganisms that are applied to plants or soils to improve crop vigor, yield, quality, and tolerance toward abiotic stress. They are used extensively in the agriculture sector as they offer many benefits. In India and China, the use of these is expected to increase during the forecast period, owing to the need to meet the food requirements of the growing population in these countries.
The huge population of countries such as China and India has led to the increased consumption of food products, subsequently encouraging farmers to use biostimulants to increase the yield of crops. In Europe, biostimulants are used in the cultivation of fruits and flax and also in horticulture, including greenhouse horticulture. The market in this region is dominated by countries such as Hungary, Greece, France, and the Czech Republic. These countries use it in large quantities to improve crop quality and yield. The growth in agricultural output will benefit the market.
The decline in arable land will fuel the global market growth. Arable land has declined worldwide due to rapid growth in industrialization, urbanization, and population. In addition, inappropriate agricultural practices and deforestation have led to reduced fertility of arable land. According to the Food and Agriculture Organization (FAO) of the United Nations, developing nations such as China and India will require an additional 120 million hectares of land to meet the demand for food by 2030. The use of biostimulants helps in improving the yield of food crops.
With shrinking arable land and declining total factor productivity (TFP), the application of fertilizers must be increased to improve the productivity of crops in the available arable land. TFP is considered to be one of the most important factors in measuring agricultural productivity. Moreover, an additional 34 million square kilometres of new arable land will be required to cater to the demand for food. The shrinkage in global arable land is expected to drive the demand for biostimulants to improve crop yield and meet the growing need for food. The decline in arable land availability will increase the use of biostimulants during the forecast period.
The rise in the demand for fertilizers is a major challenge to the global market growth. Micronutrients are trace minerals required in small quantities by plants for enhancing crop quality and soil fertility. Despite their requirements in small quantities, a deficiency in micronutrients can limit some critical plant functions, which can result in a low yield, reduced growth, and other plant abnormalities.
Micronutrients, including zinc, iron, phosphorous, and magnesium, are required at different stages of plant growth. Thus, nutrients can be easily applied to plants to overcome nutrient deficiency in plants. These nutrients improve the nutritional content of horticultural crops, including fruits and vegetables. Moreover, these nutrients are key ingredients in the composition of fertilizers that are widely used to improve the fertility of the soil. The increasing demand for fertilizers will reduce the sales of biostimulants during the forecast period.
The market share growth by the acid-based segment will be significant during the forecast period. Seaweed extracts and Ascophyllum nodosum are some of the most commonly used extract-based biostimulants. These biostimulants improve soil properties, including water retention capability and soil porosity. These biostimulants facilitate microbial activities in the soil, thereby improving nutrient uptake and utilization in plants.
The acid-based segment showed a gradual increase in market share with USD 596.50 million in 2018. Moreover, acid-based biostimulants support vegetative growth, early flowering, flower and fruit maturity, and fruit quality. These biostimulants are widely used in organic farming and for fruit and vegetable crops with high nutritional value.
Europe is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends that shape the market during the forecast period.
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Another region offering significant growth opportunities to companies is North America. In 2020, the US dominated the market in North America. The bio-stimulants market in the US is mainly driven by the agriculture sector and the rising demand for horticulture. Moreover, the presence of leading biostimulant manufacturers supports the growth of the market in this country. The increasing agricultural activities are driving the consumption of biostimulants in the country. Moreover, soybean, hogweed, wheat, and grapes are some of the common agricultural products in the US. Biostimulants are used to improve the quality and yield of crops. Therefore, the rise in agricultural activities in the US will drive the market in the region during the forecast period.
Chatgpt is implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance its presence in the market
biostadt India Ltd. - The company offers biostimulants such as Nova. Also, the company produces and markets insecticides, herbicides, fungicides, hybrid seeds, and aqua products.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including :
ADAMA Ltd., Atlantica Agricola, Bayer AG, Bioiberica S.A.U., Biolchim Spa, Biostadt India Ltd., Biovert SL, Crop Demetra Ltd., FMC Corp., Haifa Negev technologies Ltd., Idai Nature S.L, Italpollina Spa, Koppert, Micromix Plant Health Ltd., Novozymes AS, OMEX, RAG Stiftung, SEIPASA SA, SICIT Group Spa, and UPL Ltd.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is witnessing a surge driven by the increasing demand for sustainable agricultural practices in the turf and ornamentals market and beyond. Biostimulants are a key component of agricultural biotechnology, enhancing plant growth and crop yield through eco-friendly and sustainable methods. With a focus on improving crop quality and yield, biostimulants like kelp extracts, biopolymers, and microbial-derived enzymes are gaining prominence. These products, rich in primary metabolites and secondary metabolites, harness the power of humic substances and plant chemicals to enhance plant growth and resilience. From seed treatment to foliar spray, biostimulants offer versatile solutions for crop protection and soil treatment while addressing environmental concerns such as soil degradation and nitrate directive compliance. Government bodies play a crucial role in regulating the industry, ensuring aeration, optimal pH levels, and microbial capability for sustainable agriculture. As the industry outlook remains positive, biostimulants continue to drive innovation in enhancing farm yield and extending shelf-life in the fruits and vegetables segment.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.21% |
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Market growth 2024-2028 |
USD 1.74 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.16 |
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Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 32% |
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Key countries |
Germany, China, US, Japan, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ADAMA Ltd., Atlantica Agricola, Bayer AG, Bioiberica S.A.U., Biolchim Spa, Biostadt India Ltd., Biovert SL, Crop Demetra Ltd., FMC Corp., Haifa Negev technologies Ltd., Idai Nature S.L, Italpollina Spa, Koppert, Micromix Plant Health Ltd., Novozymes AS, OMEX, RAG Stiftung, SEIPASA SA, SICIT Group Spa, and UPL Ltd. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Market Segmentation by Type
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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