Biostimulants Market - Forecast(2023 - 2028)

Report Code: CMR 50449 Report Format: PDF + Excel

Biostimulants Market Overview

Biostimulants market size is forecast to reach US$5.4 billion by 2027, after growing at a CAGR of 10.2% during 2022-2027. Biostimulants are products that increase plant growth, water resistance, and resistance to abiotic stresses while reducing the need for fertilizers. These substances are effective in small concentrations, favoring the smooth operation of the plant's vital processes and allowing for high yields and high-quality products. Humic acids, seaweed extracts, amino acids, polysaccharides, plant hormones, and other biostimulants are gaining popularity due to their high efficiency and low toxicity. The growing need to increase crop yield and quality, the growth of organic farming and demand for organic food, the wide range of benefits of biostimulants in crop production, and growing awareness about environmental safety with biostimulant use are driving the biostimulants market forward. During the forecast period, however, scientific and technical difficulties in developing biostimulants will pose a challenge to market growth.

COVID-19 Impact

Biostimulants are widely used in the production of various crops, which necessitates intensive crop care such as seed preparation, soil management, crop protection, and more. However, due to the COVID – 19 outbreaks, crop production activity faced challenges such as late crop care and biostimulants product supplies, trade and delivery concerns, and more in the first few months of 2020. The negative impact on emerging market economies was exacerbated by the combination of lengthy lockdowns in rich market economies and local societal estrangement. Thus, the prolonged shutdown had an impact on the agricultural business, thereby limiting the biostimulants market growth in 2020. However, after the spread of the Covid-19 pandemic, in 2021, the consumption pattern of consumers showed a responsible shift from non-organic to organic. An emerging focus on preventive healthcare is gradually but systematically bringing about a shift in the global conventional farming practices and producers are encouraged to produce more organic alternatives using sustainable methods and resources due to which the market outlook for biostimulants during the forecast period is not much hindered.

Report Coverage

The report: “Biostimulants Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the biostimulants industry.

By Form: Dry, and Liquid
By Product Type: Microbial (Plant Growth Promoting Bacteria, Non-pathogenic Fungi, Mycorrrhizal Fungi, Nematodes, and Others), and Non-microbial (Seaweed Extracts, Humic Acids, Salicyclic Acids, Humic Substances, Fulvic Acids, Phosphite, Chitins and Chitosan, polysaccharides, Amino Acids, and Others)
By Application Method: Foliar Application, Soil Treatment, and Seed Treatment.
By Crop Type: Cereals & Grains (Wheat, Corn, Barley, Oats, and Others), Oilseeds (Soybean, Rapeseed, Sunflower, and Others), Fruits (Banana, Apple, Grapes, Oranges, Others), Vegetables (Cabbage, Tomato, Potato, Onion, and Others), Plantation Crops (Tea, Coffee, and Others), Turf and Landscape, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

  • Europe dominates the biostimulants market owing to the increasing organic farming in the region. For instance, According to the Research Institute of Organic Agriculture (FiBL), the organic area share of total farmland in Europe increased from 2.0% in 2016 to 3.0% in 2019.
  • There is a growing demand for food that is produced sustainably, with lower levels of synthetic chemicals and higher levels of biologicals. And biostimulants are assisting in the long-term resolution of this issue, thereby stimulating market growth.
  • The use of synthetic fertilizer to the bare minimum required by government and non-government organizations is assisting the growth of the biostimulants market.
  • Furthermore, during the forecast period, government initiatives to support the agricultural industry by providing subsidies for organic and bio-based farming are expected to drive market growth.


Figure: Europe Biostimulants Market Revenue, 2021-2027 (US$ Billion)

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Biostimulants Market Segment Analysis – By Product Type

The non-microbial segment held a significant share in the biostimulants market in 2021 and is forecasted to grow at a CAGR of 10.5% during 2022-2027. This segment's large share is due to its widespread availability, wide range of plant benefits, and higher efficacy. These products can cause significant morphological changes in roots. Furthermore, these products aid in the modification of nutrient acquisition and uptake activities in plant membranes. Amino acids are a major source of phytohormones, which help to activate plant metabolic systems and promote seed germination. They encourage the plant to set fruit, flower, pollinate, and develop fruit. These factors associated with non-microbial biostimulants are anticipated to drive its demand in the agriculture sector during the forecast period.

Biostimulants Market Segment Analysis – By Application Method

The seed treatment segment held a significant share in the biostimulants market report in 2021 and is forecasted to grow at a CAGR of 8.9% during 2022-2027. Biostimulant seed treatment is a technique for reducing environmental stress during sowing and increasing yield, all starting with seed germination. When compared to traditional spraying techniques, seed treatment is one of the most cost-effective applications. The treatment is both effective and time-saving compared to other approaches. This helps to lower overall input costs. Seed treatment biostimulants are low-cost, efficient, and environmentally friendly seed treatment biostimulants that can improve seed performance, germination capacity, and seedling vigor, all of which are important for plant growth and development under both controlled and abiotic stress conditions. Thus, seed treatments with biostimulants, which can be a sustainable, green, and promising approach in agriculture, are becoming more popular, thereby driving market growth.

Biostimulants Market Segment Analysis – By Geography

Europe region held the largest share in the biostimulants market in 2021 up to 31%. The agriculture i.e. crop production industry is flourishing in the region, which is accelerating the demand for biostimulants in the region. For instance, according to the International Production Assessment Division (IPAD) of the USDA’s Foreign Agricultural Service (FAS), Corn production in the European Union (EU) for marketing year (MY) 2021/22 is expected to be a record 70.4 million metric tonnes (MMT), up 5% from last year and 9% higher than the 5-year average. Wheat production in the United Kingdom (UK) for marketing year (MY) 2021/22 was 14.3 million metric tonnes (MMT), up 9.7 MMT (48%) from last year's disastrous crop. The crop in MY 2021/22 is 0.7mmt (5%) higher than the 5-year average. Wheat production in the European Union (EU, 27 members) was estimated at 137.5 million metric tonnes (MMT), up 11.6 MMT from the previous year and 5% higher than the 5-year average. Barley production in the European Union (EU27 + UK) is expected to reach 64.1 million metric tonnes (MMT) in 2020/21, up 2% from the previous year. Thus, the growth in the European agriculture sector is set to accelerate the demand for biostimulants in the region, thereby driving market growth.

Biostimulants Market Drivers

Bolstering Growth of Organic Farming

Biostimulants are important for the agricultural industry's future in terms of promoting organic farming practices. Biostimulants can help to improve soil microflora, which helps to improve nutrient uptake efficiency. Others boost internal defenses against environmental stresses and disease pressure by increasing antioxidant activity in plants. Biostimulants are commonly associated with organic farming and gardening, but they are also making progress in conventional agriculture. For instance, according to The Research Institute of Organic Agriculture (FiBL) statistics, In 2016, the global area under organic cultivation was 58.1 million hectares, which has increased by 24.4 percent to 72.3 million hectares in 2019. Organic farming is becoming more popular as a result of ongoing support from various governments. To accelerate organic farming in India, the Indian government has launched programs such as the National Program for Organic Production (NPOP) and the National Project on Organic Farming (NPOF). To boost the country's organic farming sector, the US government has launched programs such as the Organic Agriculture Research and Extension Initiative (OREI) and the Organic Transitions (ORG) programs. Such government initiatives coupled with the advantages of using biostimulants are set to post relatively solid growth for the market during the forecast period.

Higher Crop Production in a Smaller Area of Land

Biostimulants play an important role in providing crops with the nutrients they require to grow and increase crop yield while also being an environmentally friendly option. As a result, they are frequently used during crop production. With the world's population growing at an exponential rate, enough crops must be grown each year to feed everyone, which is why crop production is increasing around the globe. For example, the Food and Agriculture Organization (FAO) reports that primary crop production was 9.4 billion tonnes in 2019, up 53 percent from 2000. Global agricultural production is expected to increase by 1.4 percent per year over the next decade, according to the (OECD). Yield growth is expected to account for 88 percent of global crop production expansion between now and 2030. Agricultural growth has accelerated in recent years, but the majority of this growth has been fueled by higher yields per unit area rather than increased farmland area. To meet the demand for grain and feed the expanding population on existing arable land, it is recommended that annual crop production and yield be increased annually within the same area of arable land by 2030. The demand for biostimulants will significantly increase to improve crop yield within the same area of arable lands and provide crops with proper nutrients, which will undoubtedly drive market growth during the forecast period.

Biostimulants Market Challenges

Commercialization of Low-quality Biostimulants

The prevalence of low-quality products is due to a lack of transparency in patent protection laws in various countries. Although the biostimulants market has low entry barriers and has allowed many new competitors to enter the market, the market has fragmented into smaller pockets of market holdings. This has been a factor in regional or local manufacturers introducing low-quality products to the market to profit from the growing demand for biostimulants. Farmers are attracted to these products because of their low prices from small-scale domestic manufacturers, which is hampering biostimulant sales. 

Biostimulants Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the biostimulants market. Biostimulants top 10 companies include:

  1. Bayer CropScience
  2. UPL Ltd.
  3. FMC Corporation
  4. Valagro S.p.A
  5. Syngenta AG
  6. Gowan Group
  7. ILSA S.p.A
  8. Rallis India Limited
  9. BASF SE
  10. Haifa Group 

Recent Developments

  • In February 2021, UPL AgroSolutions Canada announced that OHM Biostimulant, its first biosolutions product in Canada, has been approved by the Canadian Food Inspection Agency. OHM is a liquid form of Ascophyllum nodosumseaweed extract that optimizes nutrient use efficiency for improved plant growth and development.
  • In June 2021, UPL Australia has introduced a new line of Biostimulant products based on GoActiv Technology, which is intended to address specific crop physiological or abiotic stresses in fruits, vegetables, vines, and tree crops. GoActiv Technology is based on a 100 percent pure extract from the seaweed species Ascophyllum nodosum. 

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1. Biostimulants Market- Market Overview
    1.1 Definitions and Scope
2. Biostimulants Market- Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Product Type
    2.3 Key Trends by Application Method
    2.4 Key Trends by Crop Type
    2.5 Key Trends by Geography
3. Biostimulants Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Biostimulants Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Biostimulants Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Biostimulants Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Biostimulants Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Biostimulants Market - By Form (Market Size -US$ Million/Billion)
    8.1 Dry
    8.2 Liquid
9. Biostimulants Market - By Product Type (Market Size -US$ Million/Billion)
    9.1 Microbial
        9.1.1 Plant Growth Promoting Bacteria
        9.1.2 Non-pathogenic Fungi
        9.1.3 Mycorrhizal Fungi
        9.1.4 Nematodes
        9.1.5 Others
    9.2 Non-microbial
        9.2.1 Seaweed Extracts
        9.2.2 Humic Acids
        9.2.3 Salicyclic Acids
        9.2.4 Humic Substances
        9.2.5 Fulvic Acids
        9.2.6 Phosphite
        9.2.7 Chitins and Chitosan
        9.2.8 Polysaccharides
        9.2.9 Amino Acids
        9.2.10 Others
10. Biostimulants Market - By Application Method (Market Size -US$ Million/Billion)
    10.1 Foliar Application
    10.2 Soil Treatment
    10.3 Seed Treatment
11. Biostimulants Market - By Crop Type (Market Size -US$ Million/Billion)
    11.1 Cereals & Grains
        11.1.1 Wheat
        11.1.2 Corn
        11.1.3 Barley
        11.1.4 Oats
        11.1.5 Others
    11.2 Oilseeds
        11.2.1 Soybean
        11.2.2 Rapeseed
        11.2.3 Sunflower
        11.2.4 Others
    11.3 Fruits
        11.3.1 Banana
        11.3.2 Apple
        11.3.3 Grapes
        11.3.4 Oranges
        11.3.5 Others
    11.4 Vegetables
        11.4.1 Cabbage
        11.4.2 Tomato
        11.4.3 Potato
        11.4.4 Onion
        11.4.5 Others
    11.5 Plantation Crops
        11.5.1 Tea
        11.5.2 Coffee
        11.5.3 Others
    11.6 Turf and Landscape
    11.7 Others
12. Biostimulants Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Biostimulants Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Biostimulants Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Biostimulants Market – Key Company List by Country Premium Premium
16. Biostimulants Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 ($M)
2.Global Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 ($M)
3.Global Competition Landscape Market 2019-2024 ($M)
4.Global Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 (Volume/Units)
5.Global Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 (Volume/Units)
6.Global Competition Landscape Market 2019-2024 (Volume/Units)
7.North America Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 ($M)
8.North America Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 ($M)
9.North America Competition Landscape Market 2019-2024 ($M)
10.South America Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 ($M)
11.South America Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 ($M)
12.South America Competition Landscape Market 2019-2024 ($M)
13.Europe Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 ($M)
14.Europe Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 ($M)
15.Europe Competition Landscape Market 2019-2024 ($M)
16.APAC Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 ($M)
17.APAC Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 ($M)
18.APAC Competition Landscape Market 2019-2024 ($M)
19.MENA Biostimulants Market Analysis and Forecast ,By Crop Type Market 2019-2024 ($M)
20.MENA Biostimulants Market Analysis and Forecast, By Active Ingredient Type Market 2019-2024 ($M)
21.MENA Competition Landscape Market 2019-2024 ($M)

LIST OF FIGURES

1.US Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
2.Canada Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
3.Mexico Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
4.Brazil Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
5.Argentina Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
6.Peru Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
7.Colombia Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
8.Chile Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
9.Rest of South America Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
10.UK Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
11.Germany Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
12.France Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
13.Italy Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
14.Spain Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
15.Rest of Europe Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
16.China Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
17.India Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
18.Japan Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
19.South Korea Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
20.South Africa Biostimulants Worldwide Demand Market Revenue, 2019-2024 ($M)
21.North America Biostimulants Worldwide Demand By Application
22.South America Biostimulants Worldwide Demand By Application
23.Europe Biostimulants Worldwide Demand By Application
24.APAC Biostimulants Worldwide Demand By Application
25.MENA Biostimulants Worldwide Demand By Application