Biostimulant Market Outlook 2031
The Biostimulant Market was USD 3.50 Billion in 2022 and is likely to reach USD 9.55 Billion by 2031, expanding at a CAGR of 11.8% during 2023 – 2031. The growth of market is attributed to developing and rising demand of organic food industry, growing awareness among the farmers about the benefits of biostimulants, and adoption of sustainable farming techniques.
Biostimulants are vividly used in application such as cereals, fruits, and vegetables and this segment constitutes around half share of the market. The ornamental and turf segment has witnessed heavy growth in demand contributing in the expansion of the market.
The COVID-19 pandemic affected the demand and supply of global biostimulant market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the COVID-19 pandemic is expected to contribute to the market growth over the forecast period.
Biostimulant Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for natural based product among population is expected to boost the market in the coming years.
- Rising awareness among the farmers regarding the beneficial factors of biostimulants is estimated to drive the market during the forecast period.
- Rapid adoption of sustainable method of farming is anticipated to spur the market.
- Growing concern for environmental health is estimated to propel the market in the coming years.
- Increasing demand for natural products such as cereals, fruits, and vegetable is anticipated to boost the market during the forecast period.
- Growing initiative and favorable support from government is expected to elevate the market.
Scope of Biostimulant Market Report
The report on the global biostimulants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Biostimulants market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Origins (Biosynthetic Biostimulants and Natural Biostimulants), Active Ingredients (Fulvic acid, Amino Acid, Humic Acid, Protein Hydrolysates, Seaweed Extracts, and Others), Applications (Soil, Foliar, and Seed), Crop Types (Pulses & Oilseeds, Commercial Crops, Grains & Cereals, Fruits & Vegetables, Others)
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
IIsa SpA; Agrinos AS; Biostadt India Ltd; Valagro SpA; UPL Limited.
|
Biostimulant Market Market segment insights
The natural biostimulants segment is expected to exhibit high CAGR
Based on the origin, the market is bifurcated into biosynthetic biostimulants and natural biostimulants. The natural biostimulants segment is expected to exhibit high CAGR during the forecast period due to characteristics present in biostimulants which enhances the soil microflora which up-stake the nutrients more efficient, boost plants immunity to combat against climatic stress and diseases pressure, and completely eradicates the use of pesticides and fertilizers causes the rise in demand.
The humic and fulvic acid segment is estimated hold key market share
On the basis of active ingredients, the market is segregated into fulvic acid, amino acid, humic acid, protein hydrolysates, seaweed extracts, and others. The humic acid segment is estimated to hold key market share in the coming years owing to be used in several crops by farmers, the product is highly potential to change the root structure, also enhances plant membrane activities of nutrients uptake and acquisition. The demand for the seaweed extract is expected to grow at a rapid pace due to growing plantation of seaweed in prominent potential markets.
The foliar segment is anticipated to account major market share
Based on applications, the market is fragmented into soil, foliar, and seed. The foliar segment is anticipated to account major market share during the forecast period. Foliar spray increases the production yield capacity of several crops, extremely beneficial for various high valued crops and is user friendly.
The pulses and oilseeds segment is expected to constitute major market share
Based on the crop types, the market is fragmented into pulses & oilseeds, commercial crops, grains & cereals, fruits & vegetables, and others. The pulses and oilseeds segment is expected to constitute major market share during the projected period owing to occupancy of large area required for cultivation and application trends.
Europe is estimated to dominate the market
In the term of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is estimated to dominate the market in the coming years due to increasing adoption of sustainable techniques of farming encourages by government also presence of various biostimulants council actively supporting in the region.
Segments
Global biostimulant market has been segmented on the basis of
Origins
- Biosynthetic Biostimulants
- Natural Biostimulants
Active ingredients
- Fulvic acid
- Amino Acid
- Humic Acid
- Protein Hydrolysates
- Seaweed Extracts
- Others
Applications
Crop Types
- Pulses and Oilseeds
- Commercial Crops
- Grains and Cereals
- Fruits and Vegetables
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global biostimulant market include IIsa SpA; Agrinos AS; Biostadt India Ltd; Valagro SpA; UPL Limited.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
