Vancouver, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The global agricultural biostimulants market is witnessing robust growth, with a market size of USD 3.44 Billion in 2022 and an anticipated rapid revenue CAGR of 11.2% during the forecast period. Key drivers include the increasing demand for sustainable agriculture and the necessity for high-quality crops. Biostimulants, which enhance plant development and productivity, are emerging as a crucial component in modern agriculture's shift towards sustainability.
Agricultural biostimulants, particularly those based on microorganisms or organic compounds derived from renewable resources, offer a sustainable and efficient approach to complement synthetic counterparts. The use of seaweeds as a raw material is a significant trend contributing to market growth. Seaweeds, abundant in micronutrients, macronutrients, growth hormones, and potassium salts, are utilized as liquid seaweed fertilizers and manure for crops, offering essential value for various agricultural crops.
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However, the market faces challenges due to an inadequate regulatory framework leading to the proliferation of substandard products with exaggerated promises. The lack of clear regulations in the U.S., contrasting with the quality norms in the European Union, has resulted in a buyer-beware atmosphere. To address this issue, industry experts emphasize the need for a precise regulatory and monitoring framework, enhancing trust in biostimulants and promoting investments in Research & Development (R&D) for higher-quality products.
A noteworthy aspect is the continuous technological advancements in the production and preparation of biostimulants. Various technologies, such as cultivation, extraction, fermentation, and high-pressure cell rupture treatment, are employed to produce biostimulants, highlighting a commitment to innovation in the industry.
Key Insights:
Active Ingredients:
Amino acids, as a biostimulant, dominated the market in 2022 due to their role in making plants resistant to environmental factors.
Seaweed extracts, with their positive impact on seed germination and plant development, are expected to exhibit fast revenue growth.
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Crop Types:
Fruits & vegetables are anticipated to hold a significant revenue share, driven by the increasing need for sustainability and quality standards.
Cereals & grains are expected to register fast revenue growth, attributed to the application of biostimulants enhancing nutritional value and yield.
Applications:
Foliar treatment, a technique applying biostimulants on plant leaves, is projected to account for the largest revenue share due to its effectiveness in providing micronutrients during the initial growth phases.
Seed treatment is expected to register the fastest revenue growth, driven by the rising demand for high-quality seeds resistant to biotic and abiotic stressors.
Regional Outlook:
- Europe led the market in 2022, driven by the increasing adoption of organic farming and a diverse range of biostimulant products.
- North America is expected to experience the fastest revenue growth, fueled by a growing interest in organic food and precision agriculture.
- Asia Pacific is poised to hold a considerable revenue share, driven by a need for efficient and sustainable agricultural practices to cater to the region's population and urbanization.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 3.44 Billion |
| CAGR (2023–2032) | 11.2% |
| Revenue Forecast To 2032 | USD 9.95 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019-2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Active ingredient, form, crop type, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Marrone Bio Innovations, Inc., Biolchim S.p.A., Valagro SPA, Novozymes, Bayer AG, Koppert, Atlántica Agrícola, Verdesian Life Sciences, Seipasa, and FMC Corporation |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
- The global agricultural biostimulants market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective agricultural biostimulants solutions. Some major players included in the global agricultural biostimulants market report are:
- Marrone Bio Innovations, Inc.
- Biolchim S.p.A.
- Valagro SpA
- Novozymes
- Bayer AG
- Koppert
- Atlántica Agrícola
- Verdesian Life Sciences
- Seipasa
- FMC Corporation
- Haifa Negev technologies LTD
- AmHydro
- Chawla Fire Protection Engineer Pvt. Ltd.
- Bioiberica S.A.U
- Agricen
- Nutri-Tech Solutions Pty Ltd.
- Agrinos
- Micromix Plant Health (MPH)
- Manvert
- Dora Agri-Tech
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Strategic Development
- On 22 June 2022, FMC Corporation announced the launch of Biologicals by FMC, a new brand image for its Plant Health division, which reflects the company’s ongoing development and growth of its biologicals platform. Biologicals by FMC illustrates FMC's dedication to offering farmers biological solutions that are backed by science to manage crops sustainably, protect yields, and combat resistance. The addition of biologicals extends the usefulness of current chemistry by introducing new modes of action.
- In September 2022, Biolchim announced its partnership with Huber Corporation, which has taken a majority stake. Through this partnership, both businesses aimed to increase their global footprint and customer service while using each other's complementary capabilities and domain-specific expertise in the biostimulant market. The Biolchim Group is expected to play a significant role in defining the strategy framework of the Huber AgroSolutions (HAS) business unit under HEM, along with currently existing organizations such as Miller Chemical & Fertilizer (Miller).
Segments Covered in Report
For the purpose of this report, Emergen research has segmented the global agricultural biostimulants market on the basis of active ingredient, form, crop type, application, and region:
- Active Ingredient Outlook (Revenue, USD Billion; 2019-2032)
- Humic Substances
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Others
- Form Outlook (Revenue, USD Billion; 2019-2032)
- Liquid
- Dry
- Crop Type Outlook (Revenue, USD Billion; 2019-2032)
- Fruits & Vegetables
- Cereals & Grains
- Turf & Ornamentals
- Oilseeds & Pulses
- Other Crops
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Soil Treatment
- Seed Treatment
- Foliar Treatment
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
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- U.S.
- Canada
- Mexico
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-
- Europe
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-
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
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-
- Asia Pacific
-
-
- China
- India
- Japan
- South Korea
- Rest of APAC
-
-
- Latin America
-
-
- Brazil
- Rest of LATAM
-
-
- Middle East & Africa
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- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
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