The global market of biostimulants is valued at around USD 3.4 billion in 2023 and is anticipated to reach USD 9.6 billion by 2033. The global business is anticipated to witness a considerable CAGR of 10.8% during the forecast period.
Extensive development takes place in the agricultural industry, as it increases yield per unit area and crop productivity, which is boosting demand for biostimulants. The market is also expanding as a result of its use as an active ingredient in products made from humic, fulvic, and amino acid-based substances.
To cater to the growing demand for biostimulants, key players are focusing on productivity and strategic expansion. By developing their high-quality end-use products, organic food business, and integrated process, they are up for higher revenue.
Products with a high level of nutrient value, versatility, and environmental friendliness are in high demand from crop farmers. These all point to a bright future for the global sales of biostimulants. Besides all key influencing factors, the market is expected to face some challenges, which include government restrictions regarding the travel of raw materials.
| Attributes | Details |
|---|---|
| Biostimulants Market CAGR (2023 to 2033) | 10.8% |
| Biostimulants Market Size (2023) | USD 3.4 billion |
| Biostimulants Market Size (2033) | USD 9.6 billion |
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When compared to the 10.1% CAGR recorded between 2016 and 2022, bio-stimulators are predicted to expand at a 10.8% CAGR between 2023 to 2033. The average growth of the market is expected to be approx 6.2 billion between 2023 to 2033.
Between 2017 and 2022, sales of biostimulants expanded at 9.7% (CAGR), owing to increasing demand for agricultural products. The global adoption of biostimulants increased by a magnitude of 10.3% over the first half of 2021. Also, the market's annual growth rate from 2022 to 2023 is 1.09x.
As of its various potential and promising prospects, biostimulants find applications across the horticulture and agriculture sectors. Increasing need for eco-friendly solutions to agriculture in developing countries such as India and China, creating a new opportunistic market for bio-stimulant manufacturers.
Short-term Growth (2023 to 2026): farmers have a huge chance to enhance root and shoot growth by using organic and bio-based substances in forestry and agriculture.
Medium-term Growth (2027 to 2029): food security and public health are inextricably intertwined, and efforts have been made to ensure sustainable food production in the agri-food sector.
Long-term Growth (2030 to 2033): governments all around the world are beginning initiatives to inform farmers about the many advantages of bio-based agricultural solutions.
Moreover, the increasing awareness regarding the benefits of biostimulant applications propels market growth.
The use of bio-stimulants has emerged as a sustainable solution that could improve agricultural sustainability and enhance crop yields. Considering this, Future Market Insights, Inc has forecast the global biostimulants market to reach a valuation of USD 9.6 billion in 2033.
Since past years, population growth has been rising, however, the area of farmland is decreasing. The rapid pace of industrialization and urbanization, with growth in the number of industries, highways, and many infrastructural buildings, is shrinking the land available for cultivation.
In the past several years, the total agricultural land harvested had decreased at a considerable rate. Moreover, to fulfill the growing demand for food from the growing population, enhancing crop production and crop yield has become essential. Thus, the need for increasing yield per unit area of agricultural land, owing to the shrinking size of the cultivation area, is driving the growth of this market globally.
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The United States is likely to account for a prodigious CAGR of 9.6%, with a worth of USD 1.7 billion by 2033, according to Future Market Insights, Inc. The USA is anticipated to dominate the North American market with a substantial value share in terms of consumption over the forecast period.
The organic food business, which is expanding at a reasonable pace, is the key driver of the biostimulant market. The market is also expanding as more farmers adopt sustainable farming practices.
The lawn and ornamental segment of the region drives demand in the North American region. Regional adoption of biostimulants is boosted by favorable rules, as well as an emphasis on organic farming and yield enhancement.
The region gives new industry participants an opportunity to enter the market for agricultural investment. The market was expanding at a CAGR of 8.9% in 2022, with an absolute growth rate of USD 1.0 billion.
The USA has been one of the major consumers of bio-based products owing to growing environmental concerns and strict regulations in the region. Technological advancements are an added advantage for the country to be an attractive production location for biostimulants manufacturers.
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Europe is one of the world's largest revenue-generating areas, and it is expected to maintain its supremacy over the forecast period. Biostimulants are likely to be used more frequently as a result of supportive policies aimed at increasing organic food production.
Germany has the largest share of the European biostimulants market among all other nations and is likely to maintain its dominance over the forecast period.
The expanding relevance of a sustainable agriculture strategy, as well as the increased development of new novel solutions that specifically target agronomic needs, are driving the European biostimulants market. During the projected period, Spain and the rest of Europe are supposed to build at a moderate pace.
Plant Biostimulants- A Leading Factor for Market Expansion
| Attributes | Statistics |
|---|---|
| United Kingdom Market Value 2033 | USD 476.2 million |
| United Kingdom Market Absolute Growth | USD 291.8 million |
| United Kingdom Market CAGR (2017 to 2022) | 10.5% |
| United Kingdom Market CAGR (2023 to 2033) | 9.9% |
The United Kingdom market share of biostimulants is expanding in part due to the rise in farmers and horticulturists. Also, signing up for agro-input certification programs like the Assured Produce Scheme and the Soil Association Certification system, booms up the sales of biostimulants.
Inventions in plant biostimulants that cater to certain agronomic requirements are drawing in new clients in Europe.
For instance, in 2017 Arysta Life Science introduced a novel biostimulant that reduces stress while enhancing fruit and vegetable production in the United Kingdom. The product includes GA142, an active component discovered in seaweed taken in North Brittany, a region with some of the strongest tides in the world.
With a CAGR of 13.3% by 2033, China is the second-largest market for biostimulants. This is due to the existence of numerous industrial firms and the rapid expansion of economies centered on agriculture.
China is expected to have a worth of USD 1.1 billion by 2033. This is owing to the increased product utilization due to the growing population, soil erosion, growing awareness among farmers, and stringent government regulations. Due to the rising need for sustainable solutions for product enhancement, the market is likely to show an average growth of USD 770.6 million.
By 2033, the market share of biostimulants in Japan is expected to be worth USD 490 million and increase at a CAGR of 10.8%. The sales of biostimulants can be ascribed to the rising demand for bio-based fertilizers and the expansion of Japan's agricultural sector.
Additionally, the government initiatives to promote the usage of biostimulants and the increased demand for organic food give a fresh perspective to the market. To encourage the adoption of biostimulants, the Japanese government has implemented a number of policies, including the Bio-Based Fertilizer Promotion Act.
Moreover, the government has given farmers and agricultural businesses that use biostimulants incentives. The Japanese market for biostimulants is projected to expand as a result of the growing need for bio-based fertilizers.
The foliar segment is expected to grow at a prominent value of 9.8% CAGR, over the forecast period. Biostimulants are gaining popularity since they are a substance or microorganism that aids in the plant's rapid growth.
The market for biostimulants is projected to be dominated by the foliar segment. Biostimulants foliar treatment is among the most extensively utilized strategies for increasing plant productivity.
When soil quality is low, foliar sprays of biostimulants may be beneficial. Considering all the factors, the foliar segment is expected to grow in the forecast period significantly, from the historical CAGR of 10.4% in 2017 to 2022.
The row crops segment is projected to create an absolute dollar opportunity of more than USD 1,353.8 million by 2033. Biostimulants are rapidly being used in the development of row crops and cereals around the world.
Furthermore, increased sales of organic cereals are expected to enhance this market even further. The growing adoption of sustainable and organic farming to fulfill rising food demand is expected to open up significant potential opportunities for the industry.
The market for biostimulants is projected to be dominated by the row crops segment. This is due to the vast amount of land under row crop production globally, and farmers' increased demand for biostimulants instead of chemical fertilizers.
Based on crop type, row crops led the industry. Barley, corn, soybeans, cotton, oats, and millet are among them. These crops are commonly farmed in broad areas globally and provide attractive growth potential for the industry.
Biostimulants are becoming more widely recognized as a necessary component of long-term agricultural practices. Environmental dangers and soil contamination as a result of indiscriminate and extensive use of chemical-based solutions on crops have recently become a key concern.
Biostimulants are a viable substitute for chemical-based agricultural goods, and so they're replacing them at a fast pace due to their environmentally friendly nature and efficiency. The most common active ingredient is acid-based biostimulants.
The acid-based category includes humic, fulvic, and amino acid-based products. Amino acids are one of the major sources of phytohormones, which help in the stimulation of plant metabolism systems and seedlings.
They encourage the plant to blossom, set fruit, pollinate, and produce fruit. Humic compounds occur naturally in end products of microorganisms, including fungi and bacteria, as well as a chemical breakdown of flora and fauna wastes in soils.
This segment's considerable share is due to their widespread availability, a broad variety of plant advantages, and superior efficacy. The acid-based active ingredients segment is anticipated to have a CAGR of 10.6% by 2033.
Key players in the biostimulants business have increased their efforts in innovation in recent years to meet the expanding product demand in agricultural techniques. It helps businesses create new sustainable products, and boost profit margins.
Through numerous mergers and acquisitions, major firms are working on growing their global influence. Over the next few years, this tendency is projected to continue. Major participants have been able to expand their separate operations in numerous geographies due to the increasing number of strategic partnerships in the bio-stimulants sector.
For instance,
The market is valued at USD 3.4 billion in 2023.
The market is projected to retain its growth rate at 10.8% per year through 2033.
BASF, Isagro, and Navozyme are the leading suppliers of such ingredients.
China is predicted to emerge as the leading market with 13.3% CAGR through 2033
The sales of biostimulants could progress at 9.9% CAGR through 2033.
1. Executive Summary | Biostimulants Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Active Ingredient 5.1. Acid-Based 5.2. Extract-Based 5.3. Others 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 6.1. Foliar 6.2. Seed 6.3. Soil 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Crop 7.1. Fruits & Vegetables 7.2. Row Crops 7.3. Turf & Ornamental 7.4. Other Crop Types 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. BASF SE 18.2. Isagro S.p.A. 18.3. Novozyme A/S 18.4. UPL Corporation Limited 18.5. FMC Corporation 18.6. Acadian Seaplants Limited 18.7. Agrinos AS 18.8. BioAtlantis Ltd. 18.9. Biostadt India Ltd. 18.10. Koppert B.V. 18.11. Italpollina Spa 18.12. Micromix 18.13. Syngenta AG 18.14. Trade Corporation International 18.15. Agricen 18.16. Omex Agrifluids Ltd. 18.17. Valagro SpA 18.18. Oxon Italia S.p.A. 19. Assumptions & Acronyms Used 20. Research Methodology
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Biostimulants Market
