New York, United States , May 29, 2023 (GLOBE NEWSWIRE) -- The Global Biostimulants Market Size is to grow from USD 3.4 billion in 2022 to USD 9.8 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.1% during the projected period. The market is being fueled by a growing awareness of the benefits of biostimulants among farmers and growers. These products have been shown to improve plant tolerance to drought, salinity, and other environmental stresses, resulting in increased yields and crop quality. Furthermore, biostimulants can improve nutrient uptake and utilization, foster root development, and stimulate plants' natural defense mechanisms.
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Biostimulants are substances or microorganisms that are applied to plants or soil to improve plant growth, nutrient uptake, abiotic stress tolerance, and crop quality overall. They are commonly used to improve crop productivity and sustainability in agriculture and horticulture. The biostimulant market has grown significantly in recent years due to a variety of factors. The growing global population and rising food demand have put pressure on agricultural systems to increase productivity while reducing cultivated land. Biostimulants provide a long-term solution by improving plant performance while reducing reliance on synthetic fertilizers and chemical inputs.
The global biostimulants market is expanding rapidly, owing to the increased demand for high-quality crops and the need for sustainable agricultural practices. With continued advances in research and technology, the market is expected to expand further, offering innovative solutions to modern agriculture's challenges. However, biostimulants are a wide range of products with various compositions and modes of action. There is a lack of globally standardized definitions and regulations for biostimulants, which causes confusion among consumers, manufacturers, and regulators. This ambiguity can stymie market growth and create obstacles to product development and commercialization.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Biostimulants Market Size, Share, and COVID-19 Impact Analysis, By Active Ingredient (Amino Acids, Humic Substances, Seaweed Extracts, and Microbial Amendments), By Mode of Application (Soil Treatment, Foliar, and Seed Treatment), By Form (Liquid and Dry), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032". Get Detailed Report Description Here:
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The seaweed extracts segment is expected to grow at the fastest pace in the global biostimulants market during the forecast period.
Based on the active ingredient, the global biostimulants market is classified into amino acids, humic substances, seaweed extracts, and microbial amendments. Seaweed extracts are projected to expand at the fastest rate in the global biostimulants market over the forecast period. Seaweed extracts have grown in popularity due to their versatile benefits and wide range of applications in a variety of crops.
The foliar segment is expected to hold the largest share of the global biostimulants market during the forecast period.
According to the mode of application, the global biostimulants market is divided into three segments: soil treatment, foliar treatment, and seed treatment. The foliar segment is anticipated to account for the majority share of the global biostimulants market over the forecast period. The foliar application provides several advantages, including rapid and efficient nutrient absorption, direct delivery to plant tissues, and flexibility in timing and dosage.
The liquid segment is expected to hold the largest share of the global biostimulants market over the projected period.
The global biostimulants market is divided into two types: liquid and dry. Among these, the liquid segment is projected to account for the majority share of the global biostimulants market over the forecast period. Liquid biostimulants provide several advantages, including ease of application, compatibility with various irrigation systems, and rapid absorption by plant tissues, which can be attributed to segmental growth.
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Europe is estimated to hold the largest share of the global biostimulants market over the predicted timeframe.
Europe is expected to hold the largest share of the global biostimulants market during the forecast period. The region places a high value on organic and specialty crop production, which drives demand for biostimulant products. The European Union's biostimulant regulations, which define criteria for product registration and labeling, govern the European market. In European agriculture, seaweed extracts, humic substances, and amino acids are commonly used. During the forecast period, Asia Pacific is projected to expand at the highest pace in the global biostimulants market. Due to factors such as increasing population, rising food demand, and the need for sustainable agricultural practices, the Asia-Pacific region is experiencing the highest growth in the biostimulants market. China, India, Japan, Australia, and South Korea are major contributors to the region's biostimulants market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Biostimulants Market include BASF SE, Koppert, Isagro Group, Biolchim S.P.A., Novozymes A/S, Valagro SpA, Biostadt India Limited, FMC Corporation, UPL Limited, Trade Corporation International, Adama Ltd., AgriTecno, Gowan Company, Haifa Group, Biovert S.L, and Others.
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Recent Developments
In March 2023, Syngenta Crop Protection and Aphea.Bio has collaborated to bring a novel wheat biostimulants to European markets. Depending on regulatory approval, the partnership hopes to accelerate the introduction of biological seed treatments into multiple European countries over the next five years.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Biostimulants Market based on the below-mentioned segments:
Global Biostimulants Market, By Active Ingredient
- Amino Acids
- Humic Substances
- Seaweed Extracts
- Microbial Amendments
Global Biostimulants Market, By Mode of Application
- Soil Treatment
- Foliar
- Seed Treatment
Global Biostimulants Market, By Form
- Liquid
- Dry
Global Biostimulants Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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