Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "Global Biostimulants Market Report by Active Ingredients (Humic Substances, Seaweed Extracts, Amino Acids, Microbial Amendments, Minerals & Vitamins), Crop Type, Mode of Application, Form (Dry, Liquid) and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global biostimulants market is estimated at USD 4.3 billion in 2024 and is projected to reach USD 7.6 billion by 2029, at a CAGR of 12% during the forecast period. Growing consumer preference toward organic farming will lead to drive the demand for biostimulants. Biostimulants, through their diverse mechanisms of action, have demonstrated the ability to promote root development, improve nutrient uptake efficiency, and stimulate overall plant growth. By enhancing these physiological processes, biostimulants can contribute to increased crop yields. This is particularly valuable in regions where agricultural productivity is challenged by factors such as nutrient deficiencies, soil degradation, and environmental stressors. 
Rise in sustainable agriculture lead to consumption of biostimulants
Biostimulants can enhance the absorption of nutrients by plants, making them more efficient in utilizing fertilizers. This can lead to reduced fertilizer use and minimized nutrient runoff, decreasing environmental pollution. By enhancing nutrient uptake and stress tolerance, biostimulants can reduce the need for chemical fertilizers, pesticides, and herbicides. This promotes environmentally friendly agricultural practices, reduces production costs, and minimizes negative impacts on soil and water quality. Some biostimulants stimulate beneficial microbial activity in the soil, leading to improved soil structure, fertility, and nutrient cycling. Healthy soils support robust plant growth and contribute to long-term sustainability in agriculture.
In 2023, foliar application stood as the major segment within the mode of application segment of the biostimulants market
Biostimulants products applied to foliage directly affect plant biochemical pathways through the leaf surface, leading to enhanced protein synthesis and increased production of enzymes. These effects contribute to improved growth of both roots and shoots. Foliar treatments with biostimulants can boost plant productivity. Directly applying biostimulants on plant leaves enhances the effect of bioactive molecules on crop growth, leading to better absorption and improved uptake of micronutrients by all parts of the plant. Biostimulants applied to the foliage are generally absorbed more rapidly than when applied to the soil. The foliar application helps in correcting plant nutrient deficiencies quickly.
Within the crop type segment, the cereals & grains constitute significant share
The consumption of cereals and grains is crucial for meeting the dietary needs of a growing population. As the demand for food rises, there's a greater emphasis on boosting cereal yields. Plant growth regulators are becoming increasingly important in achieving this goal. Recent data from the FAO shows an expected increase in global cereal utilization for 2023/24 compared to previous years. Additionally, forecasts indicate higher global cereal stocks by the end of 2024. This suggests a steady supply of cereals to meet demand. The growing demand for cereals highlights the importance of improving agricultural productivity, potentially leading to greater use of biostimulants to optimize yields and meet global requirements.
The biostimulants market in North America is anticipated to maintain consistent growth throughout the forecast period
With a growing consumer preference for organic and sustainable agricultural practices, there's a rising demand for biostimulants, which are often seen as more environmentally friendly alternatives to traditional chemical fertilizers and pesticides. Intensive farming practices that aim to meet high agricultural demands have led to soil degradation and reduced soil nutrient quality. In North America, climate change events such as drought and soil degradation have further impacted agricultural productivity. To meet the demand for high yields without relying too heavily on agrochemicals, biostimulants are expected to experience an increase in usage in the US and Canada.
Research Coverage
The report segments the biostimulants market based on active ingredients, crop type, mode of application, formulations, and region. In terms of insights, this report has focused on various levels of analyses - the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the biostimulants market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services, key strategies, Contracts, partnerships, and agreements. New product launches, mergers and acquisitions, and recent developments associated with the biostimulants market. Competitive analysis of upcoming startups in the biostimulants market ecosystem is covered in this report.
Key players in this market include BASF SE (Germany), UPL (India), FMC Corporation (US), Rallies India Limited (India), Sumitomo Chemical Co. Ltd. (Japan), Corteva (US), Nufarm (Australia), Syngenta Crop Protection AG (Switzerland), PI Industries (India), ILSA S.p.A. (Italy), Coromandel International Limited (India), Haifa Group (Israel), T.Stanes and Company Limited (India), Gowan Company (US), and Koppert (The Netherlands).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 342 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $4.3 Billion |
| Forecasted Market Value (USD) by 2029 | $7.6 Billion |
| Compound Annual Growth Rate | 12% |
| Regions Covered | Global |
Premium Insights
- Rise in Demand for Organic Food and Agricultural Practices and Government Initiatives & Incentives to Drive Growth for Biostimulants
- Seaweed Extracts Segment and Spain to Account for Largest Share in European Biostimulants Market in 2024
- US to Account for Largest Share (By Value) in 2024
- Seaweed Extracts Segment to Occupy Largest Market Across Regions During Forecast Period
- Fruits & Vegetables Segment to Dominate Market During Review Period
- Liquid Segment to Account for Larger Market Across Regions During Study Period
- Foliar Treatment to Dominate Market Across Regions During Forecast Period
Market Dynamics
- Drivers
- Rise in Need for Sustainable Agriculture
- Easy Availability of Seaweed as Raw Material
- Rise in Demand for High-Value Crops
- Restraints
- Commercialization of Low-Quality Biostimulant Products
- Preference for Chemical Pesticides Among Farmers in Emerging Economies
- Opportunities
- Technological Advancements in Production of Biostimulants
- Significant Developments in Seed Treatment
- Integration of Biostimulants with Fertilizers to Optimize Nutrient Uptake
- Challenges
- Uncertainty in Global Biostimulants Regulatory Framework
- Lack of Adoption and Awareness of Biostimulants
Value Chain Analysis
- Research & Product Development
- Raw Material Sourcing
- Manufacturing & Production
- Packaging, Storage, and Distribution
- Post-Sales Services
Technology Analysis
- Software to Operationalize Analytics
- Nanoencapsulation Technology
- Fertiglobal's Ennuvi Technology
Pricing Analysis
- Average Selling Price Trend of Key Players, by Active Ingredient
- Average Selling Price Trend of Biostimulants, by Active Ingredient
- Average Selling Price Trend of Biostimulants, by Region
Case Study Analysis
- Influence of Biostimulants on Growth of Wheat Enriched with Selenium
- Biostimulants Helped in Promoting Root Growth and Physiological Processes in Plants
- Optimizing Rice Production with Ecostim Biostimulants
Companies Featured
- BASF SE
- UPL
- FMC Corporation
- Corteva Agriscience
- Syngenta Group
- Sumitomo Chemical Co. Ltd.
- Rallis India Limited
- Coromandel International Limited
- Nufarm
- Pi Industries
- T.Stanes and Company Limited
- Gowan Company
- ILSA S.p.A.
- Haifa Negev Technologies Ltd.
- Koppert
- Bayer AG
- Sustainable Agro Solutions, SAU
- Agritecno Biostimulants and Plant Nutrition
- Axeb Biotech Sl
- Mafa Bioscience
- Devi Cropscience
- Lawrieco
- Omex
- Aminocore
- Biostadt
- Seipasa, SA
For more information about this report visit https://www.researchandmarkets.com/r/6hj0xx
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