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The biostimulants market size is forecast to increase by USD 1.51 billion between 2022 and 2027, accelerating at a CAGR of 10.68%. In 2017, Germany held the largest market share, projecting an annual revenue of USD 1.10 billion. The global market is expanding as the demand for these products increases. Within this market, the acid-based segment is the most dominant. This market growth and trends report also includes market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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The increasing demand in the agricultural industry is driving the market growth. Biostimulants 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, there 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 the products to increase the yield of crops. In Europe, they are used in the cultivation of fruits and flax and also in horticulture. The market in this region is dominated by countries such as Hungary, Greece, France, and the Czech Republic. These countries use biostimulants in large quantities to improve crop quality and yield. The growth in agricultural output will benefit the market.
The acid-based segment showed a gradual increase in market share with USD 576.07 million in 2017 and continued to grow by 2021. Moreover, acid-based products support vegetative growth, early flowering, flower and fruit maturity, and fruit quality. They are widely used in organic farming and for fruit and vegetable crops with high nutritional value. Furthermore, our market trends and analysis report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
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. They improve soil properties, including water retention capability and soil porosity. They also facilitate microbial activities in the soil, thereby improving nutrient uptake and utilization in plants.
North America is estimated to contribute 32% to the growth of the global market during the forecast period. In 2020, the US dominated the market in North America. This 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 in the country. Moreover, soybean, hogweed, wheat, and grapes are some of the common agricultural products in the US. They are used to improve the quality and yield of crops. Therefore, the rise in agricultural activities in the US will drive the market growth and forecasting strategies in the region during the forecast period.
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This Market is fragmented in nature. Some significant players include ADAMA Ltd., Bayer AG, Bioiberica S.A.U., Biolchim Spa, Biostadt India Ltd., Biovert SL, Crop Demetra Ltd.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
FMC Corp., Haifa Group, Idai Nature S.L, Italpollina Spa, Koppert, Micromix Plant Health Ltd., Novozymes AS, OMEX, RAG Stiftung, SEIPASA SA, SICIT Group Spa, UPL Ltd., and Atlantica Agricola
This market is gaining traction as a vital component of agricultural practices worldwide, especially in enhancing the productivity of various crop types like rice and corn/maize to address global food security concerns. Biostimulants contain amino acids and Humic Acid, an active ingredient derived from humus molecules, which stimulate plant roots to absorb nutrients more efficiently, thus boosting agricultural productivity. Unlike traditional chemical inputs, they harness the power of natural substances to promote crop growth and improve stress tolerance, leading to enhanced overall health of plants. As farmers increasingly seek sustainable solutions, biostimulants are witnessing a surge in demand, reflecting evolving market trends favoring synthetic substances that support environmentally friendly and economically viable agricultural practices.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Biostimulants Market Scope |
|
Report Coverage |
Details |
Page number |
187 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.68% |
Market growth 2023-2027 |
USD 1.51 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.45 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, Canada, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Research and Growth, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADAMA Ltd., Bayer AG, Bioiberica S.A.U., Biolchim Spa, Biostadt India Ltd., Biovert SL, Crop Demetra Ltd., FMC Corp., Haifa Group, Idai Nature S.L, Italpollina Spa, Koppert, Micromix Plant Health Ltd., Novozymes AS, OMEX, RAG Stiftung, SEIPASA SA, SICIT Group Spa, UPL Ltd., and Atlantica Agricola |
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 forecast period |
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. |
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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 Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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