Richmond, Feb. 29, 2024 (GLOBE NEWSWIRE) -- According to a research report "Biostimulant Market”, by Type (Acid, Microbial, Extracts, Peptides, And Others), Crop (Row Crops & Cereals, Fruits & Vegetables, Turf & Ornamentals, and Other), Form (Liquid And Powder), Application (Seed Treatment, Soil Treatment, Foliar Treatment, and Others) Distribution Channel (Direct and Indirect) and Region - Global Forecast to 2030.
Global Biostimulant Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 3.44 Billion |
| Market size value in 2030 | USD 7.1 Billion |
| CAGR (2023-2030) | 11.0% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Crop, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Biostimulant Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The biostimulant market had significant growth and transformation driven by increasing awareness of sustainable agriculture practices and the need for enhanced crop productivity. Biostimulants are substances that stimulate natural processes in plants, improving nutrient uptake, stress tolerance, and overall plant growth. These products have gained popularity as they offer an environmentally friendly alternative to traditional chemical fertilizers and pesticides. The market is witnessing a rise in demand as farmers and cultivators seek innovative solutions to maximize yield, improve soil health, and mitigate the environmental impact of conventional farming practices.
Key players in the biostimulant market include industry giants such as BASF SE, Novozymes A/S, Agricen Company, among others. These companies are at the forefront of innovation, leveraging their expertise to develop sustainable solutions. Growing consumer preferences for organic produce, stringent regulations promoting sustainable agriculture, and a focus on reducing chemical inputs in farming are key drivers. Additionally, advancements in biotechnology and research have led to the development of novel biostimulant formulations, expanding the range of applications across various crops. The market is characterized by a diverse product portfolio, including microbial and non-microbial biostimulants, as well as different formulations such as liquid, granular, and powder. With increasing investments in research and development, collaborations between key industry players, and the adoption of biostimulants in integrated crop management practices, the biostimulant Market is composed for continued growth and innovation, offering a promising outlook for sustainable and environmentally conscious agriculture.
Major vendors in the global Biostimulant market:
- Acadian Plant Health
- Agricen
- BASF SE
- Biostadt India Limited
- FMC Corporation
- Gowan Company
- ILSA S.p.A.
- Koppert
- MAFA Bioscience, S.A
- Novozymes A/S
- OMEX
- Sipcam Oxon
- Syngenta
- Trade Corporation International
- UPL
- Valagro
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Increasing Awareness of The Benefits in Sustainable Farming
The increased awareness of the advantages of sustainable farming practices is a major driver for the biostimulant market. People are worldwide becoming more aware of environmental issues and the negative effects of traditional farming, there is a growing importance on adopting more sustainable options. Biostimulants can boost crop productivity while reducing the need for synthetic chemicals, and fit well with the principles of sustainable agriculture. Farmers and consumers are becoming more mindful of the long-term consequences associated with traditional farming, such as soil degradation, water pollution, and loss of biodiversity. In response to these concerns, there is an increasing demand for agricultural solutions that promote ecological balance and resilience. As farmers recognize the tangible benefits of incorporating biostimulants into their practices, including increased yields and healthier soils, the market experiences a rise in adoption. Furthermore, consumers are showing a preference for produce cultivated through sustainable means, further increasing the demand for crops treated with biostimulants.
Market Dynamics
Drivers:
- Increasing awareness of the benefits in sustainable farming
- Stringent regulations encouraging reduced chemical inputs in farming
- Growing research and development activities contribute to the continuous innovation
- Rising desire among farmers to improve soil health and reduce environmental impact
Opportunities:
- Increasing consumer demand for organic products
- Growing global population and food demand
- Rising environmental concerns and regulations
- Increasing expansion of distribution channels such as e-commerce platforms
Increasing Consumer Demand for Organic Products
An opportunity for the Biostimulant Market is the increasing consumer demand for organic products. As consumers become more aware of health considerations, there's a growing preference for organic produce free from synthetic chemicals. Biostimulants play a key role here as they provide a natural and sustainable method to improve crop growth without heavy reliance on traditional chemical fertilizers. The inherent compatibility of biostimulants with organic farming practices positions them as a valuable tool for meeting the growing demand for organic products. Consumers, valuing food safety and sustainability, present the Biostimulant Market with an opportunity to promote its products as essential for organic farming. Biostimulants contribute to improved soil health, nutrient absorption, and overall plant vitality, fitting well with the principles of organic agriculture. Farmers integrating biostimulants into their organic farming practices not only enhance the quality of their produce but also address consumer concerns about the environmental impact of conventional farming. As the demand for organic products continues to rise, the Biostimulant Market can strategically establish itself as a key player in providing solutions that meet consumer expectations for organic produce and contribute to the overall sustainability of the agriculture industry.
North America dominates the market for Biostimulant.
In North America, the Biostimulant Market has seen considerable growth, driven by an increased awareness of sustainable agriculture practices and a growing demand for organic products. The region's well-established agricultural sector, along with strict environmental regulations, has led to the adoption of biostimulants to enhance crop productivity while reducing the environmental impact of conventional farming. Additionally, the presence of key market players and continuous advancements in biotechnology contribute to the market's strong growth.
Asia-Pacific region, the Biostimulant Market is gaining significant growth due to the increasing population, rising food demand, and a shift towards sustainable farming practices. Farmers in countries like China and India are increasingly recognizing the benefits of biostimulants in improving soil health and increasing crop yields. The region's diverse agricultural practices, combined with government initiatives promoting sustainable agriculture, further drive the adoption of biostimulants.
Another noteworthy region is the Middle East and Africa, the Biostimulant Market is emerging to address challenges posed by arid climates and limited water resources. The region faces obstacles such as a lack of awareness, limited financial resources, and traditional farming practices. Overcoming these challenges requires targeted awareness campaigns, farmer education, and collaborations with governments and research institutions.
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The Row Crops & Cereals Segment is anticipated to hold the Largest Market Share during the Forecast Period
In the global biostimulant market, the crop segment comprises various categories such as row crops & cereals, fruits & vegetables, turf & ornamentals, and others. The segment focused on row crops & cereals in the biostimulant market is crucial for promoting sustainable agriculture by improving the growth and productivity of crops. This area specifically looks at using biostimulants in cultivating row crops such as corn, soybeans, and cereals like wheat, barley, and rice. Biostimulants, made from natural substances, help stimulate plant processes, leading to better nutrient absorption, increased resistance to environmental stress, and improved plant health. In the case of row crops and cereals, using biostimulants is beneficial for optimizing crop yields and quality. This segment addresses the specific needs and challenges of large-scale cultivation of these essential crops, contributing to more resilient and efficient farming practices. As global agriculture faces challenges of increased food demand and the need for sustainable production, the row crops & cereals segment in the biostimulant market plays a crucial role in supporting environmentally friendly and resource-efficient farming methods, promoting the growth of a more sustainable agricultural system.
Segmentations Analysis of Biostimulant Market: -
- By Type
- Acid
- Microbial
- Extracts
- Peptides
- Others
- By Crop
- Row Crops & Cereals
- Fruits & Vegetables
- Turf & Ornamentals
- Others
- By Form
- Liquid
- Powder
- By Application
- Seed Treatment
- Soil Treatment
- Foliar Treatment
- Others
- By Distribution Channel
- Direct
- Indirect
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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