Dublin, March 25, 2024 (GLOBE NEWSWIRE) -- The "Biostimulants Market Report by Product Type, Crop Type, Form, Origin, Distribution Channel, Application, End-User, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global biostimulants market size reached US$ 2.8 billion in 2023. Looking forward, the market is projected to reach US$ 6.3 billion by 2032, exhibiting a growth rate (CAGR) of 9.4% during 2023-2032. The market is experiencing steady growth driven by the escalating demand for organic and clean-label food products among the masses, rising focus on improving agricultural practices to reduce the carbon footprint, and increasing efforts by governments and international regulatory bodies to establish clear standards. 
Increasing demand for sustainable agriculture practices
The global shift towards sustainable agriculture practices is impelling the growth of the market. As environmental concerns rise, there is a growing consensus on the need for eco-friendly agricultural solutions. Biostimulants, which are natural or synthetic substances that enhance plant growth and nutrition, are integral to this movement. They offer a sustainable alternative to traditional chemical fertilizers, helping reduce environmental impact while improving crop productivity and quality. The role of biostimulants in sustainable agriculture is multifaceted.
They improve soil health, increase plant resistance to stress, and enhance nutrient absorption, all of which contribute to higher yields and better crop quality. This is particularly important as the global population grows and the demand for food increases, placing more pressure on agricultural systems to produce more with fewer resources. Governments and international organizations are increasingly promoting sustainable agriculture practices, recognizing their importance in achieving food security and environmental goals. This is leading to supportive policies and incentives for the use of biostimulants. Additionally, the agriculture industry is witnessing a shift in consumer preferences towards organic and sustainably produced food, further driving the demand for biostimulants.
Advancements in agricultural technology and plant research
The biostimulants market is significantly influenced by advancements in agricultural technology and plant research. The intersection of biotechnology and agriculture is opening new avenues for the development and application of biostimulants. Modern research is enabling a deeper understanding of plant biology, particularly how plants respond to abiotic stresses, such as drought, salinity, and extreme temperatures. This knowledge is crucial for developing effective biostimulants that can help plants overcome these challenges.
Technological innovations are also making it possible to identify and isolate specific compounds that have biostimulant properties. These include various amino acids, peptides, enzymes, and other bioactive molecules. The ability to create tailored solutions for different crops and environmental conditions is greatly enhancing the effectiveness and appeal of biostimulants. Moreover, the increasing investment in agricultural research operations is fostering collaborations between academic institutions, research organizations, and biostimulant manufacturers. These partnerships are crucial for the continuous development of new and improved biostimulant products. They also facilitate the rapid transfer of research findings into practical applications in the field, thereby benefiting farmers directly.
Regulatory support and standardization
The regulatory landscape is a critical factor positively influencing the market. Moreover, there is a significant effort by governments and international regulatory bodies to establish clear standards and regulations for biostimulant products. This move towards standardization and regulation is vital for ensuring product quality and safety, which in turn builds trust among end-users and encourages wider adoption. Clear regulatory frameworks help in distinguishing biostimulants from other agricultural inputs like fertilizers and pesticides. This distinction is important for both manufacturers and users, as it provides clarity on the application, benefits, and limitations of these products. Regulations also ensure that biostimulants meet certain efficacy and safety standards, which is crucial for protecting both the environment and crop health.
The standardization of biostimulants also plays a key role in facilitating international trade. With harmonized standards, manufacturers can more easily enter new markets, and farmers have access to a broader range of products. Additionally, regulatory support often comes with research and development (R&D) incentives, which encourage innovation in the production of biostimulants. Governments and international bodies are increasingly recognizing the potential of biostimulants in achieving agricultural sustainability goals, leading to more supportive policies and funding opportunities.
Biostimulants Industry Segmentation
The report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. The report has categorized the market based on product type, crop type, form, origin, distribution channel, application, and end user.
Breakup by Product Type:
- Acid-based
- Humic Acid
- Fulvic Acid
- Amino Acid
- Extract-based
- Seaweed Extract
- Other Plant Extracts
- Others
- Microbial Soil Amendments
- Chitin and Chitosan
- Others
Acid-based accounts for the majority of the market share.
Breakup by Crop Type:
- Cereals and Grains
- Fruits and Vegetables
- Turf and Ornamentals
- Oilseeds and Pulses
- Others
Cereals and grains hold the largest share in the industry.
Breakup by Form:
- Dry
- Liquid
Dry represents the leading market segment.
Breakup by Origin:
- Natural
- Synthetic
Natural exhibits a clear dominance in the market.
Breakup by Distribution Channel:
- Direct
- Indirect
Direct dominates the market.
Breakup by Application:
- Foliar Treatment
- Soil Treatment
- Seed Treatment
Foliar treatment is the predominant market segment.
Breakup by End-User:
- Farmers
- Research Organizations
- Others
Farmers are the predominant market segment.
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Europe leads the market, accounting for the largest biostimulants market share.
Competitive Landscape
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Agrinos AS
- Adama Ltd.
- BASF SE
- Bayer
- Biolchim S.p.A.
- Biostadt India Limited
- Isagro
- Italpollina S.p.A.
- Koppert B.V.
- Novozymes
- Syngenta
- Valagro S.p.A.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (US$) in 2023 | USD 2.8 Billion |
| Forecasted Market Value (US$) by 2032 | USD 6.3 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/jj7qus
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