The Agricultural Biostimulants Market size is expected to reach USD 8,166.0 Million in 2030 and register a revenue CAGR of 11.2% over the forecast period, according to the latest report by Reports and Data. Rapid market revenue growth of Agricultural Biostimulants is due to various factors such as increase in need for sustainable agriculture and easier availability of seaweeds as raw materials. However, commercialization of low quality biostimulants products is a restraint that can affect market revenue growth.
Agricultural biostimulants are biological or biologically derived fertilizer additives and similar products that are used in crop production to supplement and enhance existing agricultural practices and crop outputs. This might help in improving nutrient-use efficiency, thereby helping plants tolerate abiotic stresses like heat, cold, drought and excessive water and to improve quality attributes like nutritional content, appearance, and shelf-life.
Some of the leading players in the global Agricultural Biostimulants market:
FMC Corporation, BASF SE, UPL Limited, Agricen, Marrone Bio Innovation, Biolchim SpA, Valagro SpA, Biostadt India Limited, Andermatt Biocontrol AG, Koppert B.V., Micromix Plant Health Ltd.
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Some Key Highlights from the Report
- Among active ingredient segment, amino acids segment accounted for largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period. Amino acids help in activating seed germination and metabolic systems of plants and also stimulate fruit development, flowering, fruit setting, and seedling growth in plants as well as increased crop productivity under stressful environmental conditions. Amino acids increase plant tolerance to a variety of abiotic stresses, including salinity, drought, temperature, and oxidative conditions. Amino acids are the basic building blocks of proteins and fulfill multiple functions in the plant: structural, metabolic and transport. Amino acids are also known in the industry of products for agriculture as chelates of metal ions. Microelements chelated with amino acids form very small, electrically neutral molecules, which accelerate their absorption and transport within the plant. These types of products are beneficial for plants that require supplementation with microelements, which is expected to drive the segment revenue growth.
- Among application segment, foliar treatment segment accounted for largest revenue share in 2021 due to rising need to supply micronutrients in order to prevent the occurrence of deficiencies during the early stages of growth. As micronutrients are essential elements for plant growth, this is boosting the usage of foliar spray applications. Foliar spray application is one of the most preferred methods of utilizing biostimulants to enhance crop productivity and increase production efficiency. It helps plants to rapidly absorb micronutrients as it is directly applied to leaves. Foliar treatment of plants increases cellular activity and plant growth, and enhance nutrient uptake, which is expected to drive the segment revenue growth.
- Agricultural Biostimulants Market in North America accounted for largest revenue share in 2021 due to rapid growth in organic farming in countries in the region. Supportive government initiatives to increase production of organic food owing to rising demand are projected to increase usage of agricultural biostimulants going ahead. Government has also supported research and development activities to boost utilization of bio-based products in the agriculture sector. The market in this region is driven by the increasing importance of a sustainable agriculture approach and development of new innovative products that target specific agronomic needs.
- In January 2022, UPL Ltd. and other shareholders in Sinagro Produtos Agropecuarios SA, Brazil, announced an agreement in which Bunge Ltd. would acquire a 33% stake in Sinagro to strengthen its grain orientation strategy in Brazil. This deal basically strengthens the partnership with Bunge in a relationship that would generate mutual benefits. Bunge’s expertise in risk management and its logistics capacity maximizes opportunities in the grain market for sustainable, traceable, and verifiable production.
Key questions addressed in the report:
- What is the expected market size of the global Agricultural Biostimulants market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Agricultural Biostimulants market?
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Agricultural Biostimulants Market Segmentation:
Active Ingredient Outlook:
- Humic Substances
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Others
Form Outlook:
- Liquid
- Dry
Crop Type Outlook:
- Fruits vegetables
- Cereals Grains
- Turf Ornamentals
- Oilseeds pulses
- Other crops
Application Outlook:
- Soil Treatment
- Seed Treatment
- Foliar Treatment
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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