North America Biostimulants Market Outlook 2031:
The North America biostimulants market size was valued at USD 836.56 Million in 2022 and is projected to reach USD 2.45 Billion by 2031, expanding at a CAGR of 12.7% during the forecast period 2023 - 2031. The growth of the market is attributed to the expansion of organic food production and increasing demand for high-quality food & agricultural products.
Bio stimulant is an organic substance that is applied to plant parts and soil to increase yield, which can fuel the chlorophyll production and plant growth, and improve water storage capacity. Biostimulants are widely used in gardening and agriculture and helps to improve the microbial community, thereby improving the absorption of nutrients by plants. Hormones stimulate growth, root development, and cell enlargement, thus promoting vitality and overall health. It is made of natural and degradable materials that do not harm the plant environment.
Biostimulants Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for safe and environment friendly products that can be used to replace synthetic materials is anticipated to drive the market during the forecast period.
- Rapid growth of the organic food industry and quality crops is likely to increase demand for biostimulants.
- Growing demand for agricultural production and the strong interest in organic products by universities, government agencies, and non-governmental organizations are driving the market.
- High production cost is expected to hamper the market growth.
- Lack of awareness about the benefits of biostimulants among the population act as major factors that can restrict the market growth during the forecast period.
Scope of the Biostimulants Market Report
The report on the North America biostimulants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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North America Biostimulants Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2023
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Segmentation
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Active Ingredients (Humic Acid, Fulvic Acid, Amino Acid, Protein Hydrolysates, Seaweed Extracts, and Others), Types (Natural and Biosynthetic), Applications (Foliar, Seed, and Soil), and Crop Types (Cereals, Oilseeds, Fruits and Vegetables, Turf and Ornamental, and Others)
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Regional Scope
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United States, Canada, Mexico, and Rest of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Valagro SpA, Arysta Life Science, Humic Growth, Agrinos, and Isagro SpA
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Biostimulants Market Segment Insights
The amino acids segment is projected to hold a major market share
Based on active ingredients, the market is segregated into humic acid, fulvic acid, amino acid, protein hydrolysates, seaweed extracts, and others. The amino acid segment is expected to represent a key share of the market during the forecast period owing to the 30 % of the total market share.
The humic acid segment is projected to expand at a high CAGR during the forecast period. It is mainly provided as the only active ingredient with functions such as stress resistance or improving plant quality. However, due to in-depth research on the market, companies such as Valagro (Italy) have developed formulas for mixing multiple active ingredients.
The foliar segment is expected to grow at a rapid pace
Based on applications, the biostimulant market is segmented into foliar, seed, and soil. The foliar segment is expected to hold a key share of the market in the coming years. Foliar is directly applied to the leaves to promote nutrient absorption. Absorption occurs through the epidermis and stomata. Most of the biostimulants advertised for foliar treatment are sold in liquid form for ease of use.
Chelated nutrients and IPA molecules are some of the main active ingredients used in foliar applications. Processing promotes faster absorption of nutrients by leaves, improves nutrient absorption, and increases cell activity. On the other hand, the seed segment is anticipated to expand at a rapid pace during the forecast period due to traditional spraying methods, seed treatment is one of the most profitable applications. In terms of its characteristics, this process is effective and does not require as much work as other methods.
The cereals segment is anticipated to expand at a high CAGR
Based on crop types, the biostimulants market is segmented into cereals, oilseeds, fruits & vegetables, turf & ornamental, and others. The cereals segment is expected to account for a key share of the market during the forecast period. These crops are grown in large area, providing profitable growth opportunities for the industry.
Biostimulants can increase the cell division speed, seed size, and yield of field crops such as soybeans, corn & barley, oats, millet, and cotton. They contain amino acids, polyamines, and indole-3-acetic acid (IAA). Helps overcome barriers to cell division and reproduction. Agricultural professionals are increasingly using biostimulants to grow row crops and cereals.
In addition, growing demand for organic grains is expected to c drive the market. On the other hand, the fruit & vegetables segment is anticipated to expand at a rapid pace during the forecast period due to the high production of fruits and vegetables in the region, the fruit and vegetable sector is expected to dominate the regional biostimulant market. The high demand for vegetables and fruits requires biostimulants to meet the growing market demand.
The natural biostimulants segment is anticipated to hold a major market share
Based on types, the biostimulant market is segmented into natural biostimulant and biosynthetic biostimulant. The natural biostimulant segment is expected to hold a key share of the market during the forecast period due to factors such as low cost, high fertility, and high yield.
United States is expected to dominate the market
On the basis of regions, the biostimulant market is classified as United States, Canada, Mexico, and Rest of North America. The market in United States is anticipated to dominate the market during the forecast period. The United States has a highly developed agricultural sector and continues to pursue organic and self-sufficient agricultural methods.
In addition to the chemical aspects and its negative impact on the production of biostimulants, has also led to an increase in the consumption of biostimulants. On the other hand, the market in Canada is expected to exhibit a rapid growth in the coming years due to the Canadian government's increasing support to ensure safe agriculture in the country.
Segments
The North America biostimulant market has been segmented on the basis of
Active Ingredients
- Humic Acid
- Fulvic Acid
- Amino Acid
- Protein Hydrolysates
- Seaweed Extracts
- Other
Types
Applications
Crop Types
- Cereals
- Oilseeds
- Fruits and Vegetables
- Turf and Ornamental
- Other
Regions
- United States
- Mexico
- Canada
- Rest of North America
Key Players
Competitive Landscape
Key players competing in the market include Valagro SpA, Arysta Life Science, Humic Growth, Agrinos, and Isagro SpA.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
In February, 2019- UPL (India) acquired Arysta Life Science Corporation (U.S.), which is part of Platform Specialty Products Corporation (U.S.). The acquisition helped the company expand its influence in the biologics market and expand its geographic footprint.
In July, 2017 - Syngenta and Valagro signed a seed treatment biostimulant supply agreement. According to the agreement, Syngenta launched EPIVIO Energy, a product specially formulated for sunflower and sunflower seeds to reduce abiotic stress and improve plant quality.
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