Market Overview
The Global Biostimulant market is expected to reach a market value of
USD 2.9 billion in 2023 and is expected to maintain steady growth in upcoming years also, by reaching a market value of
USD 5.9 billion by 2023 to 2032, with a
CAGR of 8.1%.
Biostimulants are used on plants and soils to improve plant growth rate and their overall health condition. It is important to note that biostimulants are different than fertilizers as they do not supply essential nutrients such as nitrogen, potassium & phosphorus instead, biostimulants are used to improve various aspects of plants to promote their growth such as nutrient uptake, biochemical cycles, water uptake, stress tolerance, and soil quality. These products are manufactured from a diverse variety of organic & inorganic materials, like seaweed extracts, plant extracts, amino acids & beneficial microorganisms.
Primarily, biostimulants are used in the agriculture sector, where they are used on crops to enhance their resilience to fight against adverse environmental conditions like drought, high temperature, disease, and pests. Furthermore, these are also used on crops to improve their ability to absorb nutrients, enhancing root development and fostering plant growth.
Market Dynamic
The Global Biostimulants Market is showing many growth aspects as the emphasis on sustainable and eco-friendly agriculture practices presents a significant growth opportunity for this market. Biostimulants align with these trends to promote sustainable and environment-friendly farming methods. The expanding agriculture sector, driven by the increasing population, offers a crucial opportunity to the Biostimulant manufacturers as they attempt to enhance crop productivity.
Advancements in biostimulant research are also at their peak, which is opening new growth opportunities for biostimulants and expanding its market reach. Additionally, the need for biostimulants to enhance crop resilience against changing climate patterns and extreme weather conditions offers a promising growth avenue to the global biostimulant market.
Research Scope and Analysis
By Active Ingredient
In active ingredient segment, the acid-based biostimulants held 48.0% of the market share in 2023 and are further expected to hold the position in the forthcoming years as well. Acid-based biostimulants primarily consist of various acids, such as humic acid and fulvic acid, that play a significant role in improving nutrient uptake, root development & overall plant health. The acid-based biostimulators act as powerful growth enhancers by facilitating the solubility and availability of essential nutrients in soil. Additionally, these bio-stimulators also help the plants to cope with environmental stress conditions.
In the context of the global biostimulants market, the acid-based segment is rapidly growing due to its effectiveness in improving crop yield & quality. By the growing demand for sustainable & eco-friendly agricultural practices, acid-based biostimulators play a key role in pushing the growth of this market further. So, as the agriculture sector continues to grow, acid-based stimulants will make a notable impact by improving agricultural productivity.
By Crop Type
In regard to the crop type segment, row crops & cereals play a dominant role and hold 61.0% of the market share in 2023 and are expected to attain an even higher position in the upcoming years. Row crops & cereals primarily focus on enhancing the growth, quality, and resilience of the staple crops and cereal grains that serve as a key element in the global food chain. Staple crops such as wheat, maize, rice, and barley are a vital part of the human diet and animal feed, making them optimal production essential to solve the issue of global food security.
Biostimulators that are specifically made for row crops and cereals have many roles to play. They improve nutrient uptake, root system, and strengthen crop resistance against environmental stress conditions like drought, high temperature, disease, and pest infestations. These biostimulants contribute to more sustainable & efficient agricultural practices by improving the crop yield quality and quantity.
By Application
The global biostimulant market encompasses various application methods, foliar treatment dominates this market segment as it holds 79.0% of the market share in 2023, and is anticipated to grow even further in the upcoming years. Foliar treatment involves the application of biostimulants directly to the plant's leaves, stems, and other affected parts. This method is gaining attention because of its effectiveness & efficiency. Foliar treatment has several advantages that allow rapid absorption of biostimulants in plants, resulting in quick and visible effects.
It enhances water uptake, nutrient uptake, improves photosynthesis, and stimulates various metabolic processes, ultimately leading to increased plant growth. Furthermore, foliar treatments are more popular as they offer a more precise and targeted approach where they reduce the probability of damage to crops and wastage of resources.
The Global Biostimulant Market Report is segmented on the basis of the following:
By Active Ingredient
• Acid Based
• Seaweed Extract
• Microbial
• Others
By Crop Type
• Row Crops & Cereals
• Fruits & Vegetables
• Turf & Ornamentals
• Others
By Application
• Foliar Treatment
• Soil Treatment
• Seed Treatment
Regional Analysis
Europe has been a dominant force in the global biostimulant market as it possess 38.2% of the market share in 2023 and is expected to grow further in the forthcoming years. Europe has established clear guidelines and standards for the manufacturers to follow. This has created a favorable ecosystem for companies to develop new biostimulant products, ensuring safety and quality for consumers. Europe has a rich history of agriculture and horticulture, with a strong emphasis on sustainable & organic farming practices.
This cultural tradition is a major factor that has inspired the adoption of biostimulants in the European market as it aligns well with European commitment to sustainable & environment-friendly agriculture practices. Europe not only has a long history regarding the past but also making history in the present as many major companies in this region are investing in the research and development of biostimulants that make its position of Europe in the Global Biostimulant market even stronger.
By Region
North America
• The U.S.
• Canada
Europe
• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe
Asia-Pacific
• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America
Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA
Competitive Landscape
The competitive landscape of the Global Biostimulant market is characterized by the actions of multinational corporations, regional players, and startups. These companies are competing with each other to gain a competitive edge in this market that is driven by the growing demand for sustainable agriculture & environment-friendly practices. Continuous research and development efforts are vital in this industry. Companies that invest in research and development create more growth opportunities and gain an edge over the others.
Nowadays, collaboration between biostimulant manufacturing companies, agricultural institutions, research centers, and universities are getting more frequent, as they collaborate to improve an existing product or develop a completely new product catalog. The key players in the Global Biostimulant Market are Bayer AG, Syngenta AG, UPL Limited, Gowan Group, BASF SE, Marrone Bio Innovations, SEIPASA S.A., P.I. Industries, Novozymes, Koppert Biological Systems, and others.
Some of the prominent players in the Global Biostimulant Market are:
• Bayer AG
• Syngenta AG
• UPL Limited
• Gowan Group
• BASF SE
• Marrone Bio Innovations
• SEIPASA S.A
• P.I. Industries
• Novozymes
• Koppert Biological Systems
• Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Biostimulant Market
The COVID-19 pandemic and the subsequent economic recession had a significant impact on the Global Biostimulant Market. In the early period of the pandemic, the lockdown and travel restriction disrupted the supply chains and distribution networks led to challenges in sourcing and delivering biostimulant products, causing temporary setbacks. However, the pandemic also highlighted the importance of sustainable and resilient agricultural practices.
As concerns regarding food security rose during this period, governments and farmers rapidly embraced the use of biostimulants as a means to boost crop productivity and reduce their dependence on chemical fertilizers. This shift in choices led to the growth of Global Biostimulant Market
Report Characteristics |
Market Size (2023) |
USD 2.9 Bn |
Forecast Value (2032) |
USD 5.9 Bn |
CAGR (2023-2032) |
8.1% |
Historical Data |
2017 - 2022 |
Forecast Data |
2023 - 2032 |
Base Year |
2022 |
Estimate Year |
2023 |
Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
Segments Covered |
By Active Ingredient (Acid Based, Seaweed Extract,
Microbial, and Others), By Crop Type (Row Crops &
Cereals, Fruits & Vegetables, Turf & Ornamentals and
Others), By Application (Foliar Treatment, Soil
Treatment and Seed Treatment) |
Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
Prominent Players |
Bayer AG, Syngenta AG, UPL Limited, Gowan Group,
BASF SE, Marrone Bio Innovations, SEIPASA S.A., P.I.
Industries, Novozymes, Koppert Biological Systems,
and Other Key Players |
Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Biostimulant market is expected to achieve a market value of USD 2.9 billion in 2023.
Biostimulants are used on plants and soils to improve the speed of plant growth and their overall health
condition.
Europe has been a dominant force in the global biostimulant market as it possess 38.2% of the market
share in 2023 and is expected to grow its hold further in the forthcoming period of 2032.
The key players in the Global Biostimulant Market are Bayer AG, Syngenta AG, UPL Limited, Gowan
Group, BASF SE, Marrone Bio Innovations, SEIPASA S.A., P.I. industries, Novozymes, Koppert Biological
Systems, and others.