Pune, India, July 10, 2023 (GLOBE NEWSWIRE) -- The global biostimulants market size was valued at USD 3.34 billion in 2022 and is projected to grow from USD 3.69 billion in 2023 to USD 7.97 billion by 2030, exhibiting a CAGR of 11.65% during the forecast period.
The inorganic fertilizers (primary nutrients) industry is rising 1.3-1.8% yearly. The key market players are concentrating on different rewarding product areas, such as organic fertilizer and specialty fertilizers, witnessing growth chances in these segments.
This information is provided by Fortune Business Insights™ in its research report titled “Biostimulants Market, 2023-2030.”
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List of Key Players Mentioned in the Biostimulants Market Report:
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- UPL Limited (India)
- Gowan Group (U.S.)
- BASF SE (Germany)
- Marrone Bio Innovations (U.S.)
- SEIPASA S.A. (Spain)
- P.I. Industries (India)
- Novozymes A/S (Denmark)
- Koppert Biological Systems (Netherlands)
COVID-19 Impact:
Supply Chain Disruptions Caused Sluggish Growth during Pandemic
The outbreak of the pandemic has obstructed almost all industries while impacting the agriculture sector at various levels. The key market players observed a slight decrease in their crop protection product segment’s revenue generated during 2020. For instance, Bayer AG, a German multinational life sciences company, witnessed a 5% decrease in sales of their crop sciences products in 2020 as compared to 2019.
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 11.65% |
| 2030 Value Projection | USD 7.97 Billion |
| Market Size in 2023 | USD 3.69 Billion |
| Historical Data | 2019-2020 |
| No. of Pages | 632 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Biostimulants Market Growth Drivers | Rising Support from Government to Result in Enhanced Market Growth |
| Growing Inclination Toward Natural Crop Protection & Nutrition Products to Augment the Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/biostimulants-market-100414
Segmentation:
Non-microbial to Dominate Due to its Distinctive Bioactive Substances
On the basis of source, the market is bifurcated into microbial biostimulants and non-microbial biostimulants.
Non-microbial is the dominant segment and is predicted to grow subsequently due to the improving crops’ biochemical and physiological traits. Non-microbial biostimulants consist of active compounds such as inorganic compounds, humic acids, seaweed extracts, and biopolymers.
Seaweeds Extracts to Hold the Major Share Containing Wide Array of Elicitor Component
According to active ingredients, the market is divided into humic substances, seaweed extracts, microbial amendments, vitamins and amino acids, and others.
Growers have widely used humic substances, consisting of humic and fulvic acids, to produce different crops. These products are highly capable of inducing significant changes in root morphology.
Foliar Treatment to be the Most Adopted Application Method Owing to its High Effectiveness
Based on application, the market is categorized into seed treatment, foliar application, and soil treatment.
Among different application methods of biostimulants, foliar spray accounted for the biggest share owing to its high effectiveness in improving plant health.
Row Crops Segment to Appear as Leading Due to High Demand
As per crop, the market is segmented into turf and ornamentals, row crops, fruits and vegetables, and others.
The row crops segment, which consists of fiber crops, cereals, oilseeds, and pulses, is anticipated to recollect its dominance over the projected period in the markets globally. These crop sources represent the most important crop group cultivated globally, consisting of cotton, soybean, sunflower, and others.
Based on region, the market has been analyzed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Growing Inclination toward Nutrition Products & Natural Crop Protection to Boost the Market Growth
Public health and food security are essentially linked, and there have been efforts from all the stakeholders in the agri-food industry to confirm sustainable food production. The growers are inclining their preferences towards plant growth promoters to reinforce plant vigor and allow them to become stronger and survive during extreme climatic conditions. In various developing economies, a lack of restrictions connected with the product’s commercialization may hinder the development and growth of the market during the projected period. Limited awareness and availability of quality products, a dearth of trust in new products, and the lack of stable regulatory and supporting network policies mitigate the market’s growth.
Regional Insights:
Europe to Dominate the Market Growth Due to the Growing Adoption of Sustainable Farming Substances
Europe is expected to dominate the market share due to the government’s increased importance on the adoption of sustainable farming substances, tools, and methods, along with several biostimulants promoting councils in the region. North America market to witness growth in the market due to increased investments in the R&D of agricultural biologicals. These are increasingly witnessed as an integrated part of a holistic approach to help maximize crop yield.
Competitive Landscape:
New Product Launching by Prominent Companies to Back Highest Market Position
Prominent players are continuously trying to launch and innovate products in the market to launch prominence. Many other large and small market players are boarding on strategies, such as research & development, merger & acquisition, collaboration with the government, and others, to back their position in the market.
Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Seaweed Production & Agriculture Uses
- Biostimulants Industry SWOT Analysis
- Supply Chain & Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Biostimulants Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Source (Value)
- Microbial Biostimulants
- Non-microbial Biostimulants
- By Active Ingredients (Value)
- Seaweed Extracts
- Humic Substances
- Vitamins & Amino Acids
- Microbial Amendments
- Others
- By Application (Value)
- Foliar Treatment
- Soil Treatment
- Seed Treatment
- By Crop (Value)
- Row Crops
- Fruits & Vegetables
- Turf & Ornamentals
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Source (Value)
TOC Continued…!
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Key Industry Development:
- March 2022: Valagro, in collaboration with its Indian subsidiary Valagro Biosciences, launches its innovative biostimulant Talete in the Indian market. Talate is the solution created by Valagro to increase Crop Water Productivity.
Read Related Insights:
Biofertilizers Market Size, Share & Regional Forecast, 2023-2030
Agricultural Microbials Market Size, Share Analysis, Forecast, 2022-2029
Biopesticides Market Size, Share and Regional Forecast, 2022-2029
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