Biostimulants Market 2022 - Market Size & Forecast,
Industry Trends, Manufacturers Analyis, & Opportunities 2030
Page: 384 | Report Code: MC22080604 | Research Suite: Report (PDF) & Market Data (Excel)
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Biostimulants refer
to natural microbe-based agricultural chemicals or substances that are applied
to the oilseeds, soil, grains, fruits, vegetables, and other plantation crops
to improve the metabolism, nutrient availability, tolerance to environmental
stresses in times of drought or disease, water holding capacity, and production
of chlorophyll. These biologically produced fertilizers also enhance the
antioxidant activity and stimulate root development and cell enlargement in
plants.
Biostimulants
have a wide variety of applications in agriculture and horticulture. These
promote the development of plants in diverse ways throughout the entire life
cycle of crops, right from the germination of the seed to the plant's maturity.
GROWTH DRIVERS:
Factors such as
the widespread adoption of biostimulants due to the rising awareness regarding
their numerous benefits across the world; the surging need to enhance crop
yield and quality; the fast-paced soil degradation across the globe; the increasing
awareness about environmental safety; the growing emphasis on improving
productivity; the burgeoning need to restore degraded soil and improve soil
health; the continuously changing climate due to global warming that affect
crop yields; the ever-expanding agriculture industry, and the limited availability
of cultivable land across the globe are primarily driving the growth of the
global biostimulants market.
Additionally, the
global population is soaring at a rapid pace, and so is the demand for food.
However, the food sector is being faced with a variety of unprecedented
challenges such as environmental hazards including adverse climate change
effects, overexploitation of natural resources in the form of excessive
application of chemical-based products on crops; loss of biodiversity, and food
loss and waste. This is rendering the sector ineffective in fulfilling the
demands of the people. Biostimulants here, are emerging as an essential
component in sustainable agricultural practices which are increasingly being
used along with organic manure to enhance soil fertility and plant health. They
are increasingly replacing chemical-based agro-products due to their
environment-friendly nature, which, in turn, is adding to the growth of their
market.
Moreover, the
demand for healthy, high-quality food without chemical residues has up-surged
exponentially. This has resulted in the growing adoption of organic farming
practices. Biostimulants hold significant importance in organic farming and
organic gardening for crop protection & nutrition. In purview of this, the
support from governments across regions to promote bio-agri products has also
increased. Thus, with the increasing popularity of organic farming, the demand
for biostimulants in organic farming is slated to increase. This factor in
tandem with the growing support from the government is expected to aid in the
growth of the global biostimulants market throughout the forecast period.
Furthermore,
other factors such as the proliferating introduction of innovative bio-based
products; the rising disposable incomes and spending of people; the growing
number of market players offering customized product solutions specific to crop
type & soil and training and education programs to farmers are also
expected to create ample growth opportunities for the global biostimulants
market during the forecast period.
However,
factors such as the limited awareness and availability of good quality products
in underdeveloped regions; the scientific & technical difficulties for
developing biostimulants; lack of regulations associated with product’s
commercialization, and the high costs associated with research and development practices
are expected to hamper the growth of the global biostimulants market to a
certain extent during the forecast period.
BIOSTIMULANTS MARKET SEGMENTATION:
By Active Ingredients:
·
Acid-based
o
Humic Acid
o
Fulvic Acid
o
Amino Acids
·
Extract-based
o
Seaweed extracts
o
Other Botanical Extracts
·
Microbial Amendments
·
Others
o
Vitamins
o
Trace Minerals
o
Polysaccharides
By Application:
·
Soil Treatment
·
Seed Treatment
·
Foliar Spray
By Form:
·
Liquid
·
Dry
By Crop Type:
·
Cereals & Grains
·
Oilseeds & Pulses
·
Fruits & Vegetables
·
Turfs & Ornamentals
·
Others
o
Forage
o
Plantation Crops
By Region:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Based on active ingredients, the acid-based segment acquired
the largest share of the global biostimulants market in 2021. The segment is
anticipated to retain its lead in the market over the forecast period on
account of their easy availability and a wide range of benefits offered by them
to plants, However, the extract-based segment is expected to register the
highest CAGR in the market during the forecast period
Based on crop type, the fruits and vegetables segment captured
the largest market share of the biostimulants market in 2021. The trend is
expected to further continue over the forecast period owing to the burgeoning
application of biostimulants on crops such as fruits & vegetables, the
increasing demand for fruits & vegetables due to the growing health
consciousness among people and the high production of vegetables and fruits across
the globe.
Based on form, the liquid segment is predicted to dominate
and at the same time register the highest CAGR in the market during the
forecast period of 2022-2030. The liquid formulation’s relatively better performance
and higher effectiveness than that of dry formulation is the major factor
attributable to the growth of the segment.
Based on application, the foliar spray segment held the
largest share of the global biostimulants market in 2021. The segment is
predicted to further retain its dominance in the market over the forecast
period. on account of its higher efficiency as compared to other modes of
application. However, the seed treatment segment is estimated to attain the
highest growth rate in the market during the forecast period.
REGIONAL OUTLOOK:
The European region dominated the global biostimulants
market in 2020, followed by North America, Asia-Pacific, Latin America, and the
Middle East & Africa. The trend is
expected to continue over the forecast period. Factors such as the surging
concerns over harmful chemicals on the environment; the increasing emphasis on
agricultural sustainability; the escalating development of new & innovative
products; the increasing export of biostimulants from the region; the growing
number of stringent regulations on environmental safety; the increasing R&D
activities on biostimulants, and the presence of well-established biostimulants
providers in the region are majorly ascribed to the region’s growth. The U.K,
Germany, Spain, Italy, and France are the major contributors to the growth of
the market in the region.
The Asia Pacific region is poised to emerge as the
fastest-growing regional market for biostimulants during the forecast period,
followed by the Latin American region. Factors such as the presence of various
agriculture-driven economies such as India, Australia, and China; the rapidly
expanding agriculture sector, the proliferating adoption of sustainable
agricultural practices; the escalating and the enhancing need for improved
productivity are the primary factors propelling the growth of the Asia Pacific
biostimulants market. Countries such as India, China, Japan, South Korea, and
Australia are the major contributors to the growth of the market in the region.
The North American region also captured a significant
portion of the global biostimulants market in 2021. The region is expected to
further witness swift growth during the forecast period on account of the rising
adoption of advanced technology in agriculture and the supportive government
policies that encourage the application of sustainable farming practices in the
region. The U.S. and Canada are the major contributors to the growth of the
market in the region.
KEY COMPANIES IN BIOSTIMULANTS MARKET:
·
Bayer AG
·
Syngenta AG
·
BioAtlantis Ltd.
·
Agrinos Inc.
·
Andermatt Biocontrol AG
·
Som Phytopharma India Limited
·
Novozymes A/S
·
BASF SE
·
Valagro S.p.A
·
FMC Corporation
·
Rallis India Limited
·
Haifa Group
·
Marrone Bio Innovations Inc.
·
Biolchim SpA
·
Italpollina SpA
·
Biostadt India Limited
·
Olmix S.A.
·
Plant Health Care plc
·
EuroChem Group AG
· Other Players