Biostimulants Market (By Active Ingredients: Acid-based, Microbials; By Application: Soil, Seed Treatments; By Crop Type: Row Crops & Cereals, Fruits & Vegetables) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030.

Published Date : Jul 2022 | No. of Pages : 150+ Pages | Category : Chemical and Material

The global biostimulants market was surpassed at USD 2.8 billion in 2021 and is expected to hit around USD 6.9 billion by 2030, growing at a CAGR of 10.54% from 2022 to 2030.

Biostimulants Market Size 2021 to 2030

Report Highlights

  • The acid-based active ingredient segment dominated the global market and accounted for the largest share of over 49.11% of the total revenue in 2021.
  • The foliar treatment application segment dominated the market with a revenue share of more than 79.62% in 2021.
  • The row crops and cereals segment dominated the market with a revenue share of more than 59.56% in 2021.
  • Europe dominated the global market in 2021 and accounted for the largest share of over 37.57% of the total revenue.
  • Central & South America is estimated to register the second-highest growth rate, in terms of revenue, over the forecast period.
  • By active ingredients, the U.S. Biostimulants market was valued at USD 491.3 million in 2021 and expected to witness growth at a CAGR of 9.62% from 2022 to 2030.

The industry growth is majorly driven by demeaning soil quality and rising demand for organic and high-quality products. Furthermore, the growing demand for sustainable and eco-friendly alternative solutions is growing significantly due to its ability to enhance the productivity of crop production. This, in turn, is likely to boost the demand for biostimulants over the forecast period. Biostimulants are any ingredients or microorganisms administered to plants to enrich sustenance efficiency, and abiotic stress tolerance, enhancing crop quality and characteristics and traits, irrespective of their nutrient content.

It helps in the production of high-quality crops and thus is widely used in contemporary agricultural practices for a good and profitable yield. They also supplement the growth of plants. They are used as an additive to the plants and are different from fertilizers. Biostimulants incorporate a varied range of active ingredients, which comprise amino acids, fulvic acids, seaweed extracts, and microbes among others. In 2021, the leading active ingredient segment was acid-based biostimulants. The acid-based segment includes products based on fulvic, humic, and amino acids. Amino acids are among the key instigators of phytohormones aiding seed germination and stimulating the metabolic processes in plants.

Row crops & cereals were the largest crop type segment in 2021. Government support for the use of eco-friendly products and increasing production output of row crops & cereals are expected to boost the growth of this segment over the forecast period. Europe was the dominant regional market in 221, in terms of revenue, followed by North America. Asia Pacific has the highest growth potential due to the presence of emerging economies, such as India and China. The presence of stringent rules against the usage of artificial chemicals, which degrade the soil quality, has also been supplementing the growth of the market.

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 2.8 billion
Revenue Forecast by 2030 USD 6.9 billion
Growth rate from 2022 to 2030 CAGR of 10.54%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Active Ingredients, crop type, application, region
Companies Covered BASF SE; Isagro Group; Sapec Agro S.A.; Biolchim SpA; Novozymes A/S; Platform Specialty Products Corp.; Valagro SpA; Koppert B.V.; Italpollina SAP; Biostadt India Ltd.

 

Active Ingredients Insights

The acid-based active ingredient segment dominated the global market and accounted for the largest share of over 49.11% of the total revenue in 2021. This is attributed to the high demand for these ingredients due to their plant potency enhancement characteristics and sustainability properties. Moreover, they are economically feasible. Amino acids, such as fulvic and humic acids, are key instigators of plant hormones aiding in the stimulation of the metabolic processes and enhancement of seed germination. Seaweed extracts are estimated to record the fastest CAGR over the projected period.

The presence of components like plant growth hormones, such as auxins, cytokines, and gibberellins, and various nutritional metal elements, like potassium, nitrogen, manganese, aluminum, and iron aiding the plant growth & productivity, is the major driving the demand for seaweed extracts as biostimulants. Extensively used seaweed extracts include brown, green, and red algae. Microbial biostimulants are expected to have a moderate growth rate over the forecasted period. They include the use of a microorganism or numerous microorganisms as biostimulants to help stimulate plant growth. Commonly used microbial biostimulants include fungi, yeasts, and bacteria. They help the plant to cope with environmental stress, increase its nutritional absorption capacity, and improve productivity.

Crop Type Insights

The row crops and cereals segment dominated the market with a revenue share of more than 59.56% in 2021. The segment includes crops, such as soybean, corn, millets, barley, cotton, and oats among others. These crops offer beneficial growth opportunities for the companies and are cultivated widely across the globe over large areas of land. It helps in increasing the size of the seed, harvest, and the rate of cell division. The key biostimulants included in row crops and cereals are amino acids, polyamines, and Indole-3-acetic acid (IAA). It helps in overcoming the different barriers to cell development and cell division. Multinationals and agriculture experts are progressively using biostimulants for the farming of row crops and cereals.

Furthermore, the high demand for organic cereals, such as oats and millets, is estimated to supplement the segment growth. Increasing recognition and acceptance of ecological and sustainable organic farming to cater to the rising food demand are expected to generate immense growth opportunities for the market. Turf & ornamental was the second-largest segment in 2021 due to a rise in the usage of turf and ornamentals across the globe. The segment majorly uses acid-based biostimulants for enhancing the yield. The market in this segment is highly competitive due to the presence of numerous players. The market is expected to have high growth potential, especially in emerging economies, such as India, China, and Brazil.

Application Insights

The foliar treatment application segment dominated the market with a revenue share of more than 79.62% in 2021. This is attributed to the benefits associated with foliar treatment including faster absorption of nutrients and increased cellular activity. Foliar treatment includes direct application of the biostimulants on plant leaves to assist the quick absorption of nutrients from the surface. The absorption is facilitated by the epidermis and stomata present on the surface of the leaves. Biostimulants used for the foliar treatment are usually in liquid form to support easy application and absorption. The seed treatment application is efficient and effective and requires lower labor input as compared to other techniques, which makes it a cost-efficient method.

In addition, the factors, such as the increasing population, growing demand for organic products, and encouragement from the government for use of biostimulants are the driving forces of the industry. The soil treatment segment accounted for a significant revenue share in 2021. The treatment includes the usage of biostimulants in the soil to promote growth, fertility, and productivity. Soil treatment incorporates four key techniques, namely physical, mechanical, chemical, and biological treatments. The declining use of chemicals in agriculture will boost product usage for soil treatment. Commonly used biostimulants for soil treatment are acid-based and microbial biostimulants.

Regional Insights

Europe dominated the global market in 2021 and accounted for the largest share of over 37.5% of the total revenue. This is attributed to the growing consumption of organic foods and the growing preference of manufacturers for sustainable & eco-friendly production alternatives. Asia Pacific was the second-largest regional market in 2021 owing to the presence of various manufacturing companies along with the rapid growth of agriculture-based economies, such as India and China. The increased product utilization due to growing population, soil erosion, growing awareness among farmers, stringent government regulations & encouragement for the use of biostimulants, and the need for more sustainable solutions for product enhancement will support market growth.

Central & South America is estimated to register the second-highest growth rate, in terms of revenue, over the forecast period. Although currently, the region is growing at a stagnant rate, it has a lot of growth potential due to the presence of economies, such as Brazil, which are primarily agriculture-based. The industry is expected to exponentially grow in the region over the forecasted period for all the segments owing to the rising population, use of new technology in agriculture, increasing awareness among farmers, and declining use of artificial chemical fertilizers, which degrade the quality of the soil, and extensive usage of sustainable & eco-friendly alternatives.

Key Players

  • Isagro Group
  • BASF SE
  • Biolchim SpA
  • Sapec Agro S.A.
  • Platform Specialty Products Corp.
  • Novozymes A/S
  • Valagro SpA
  • Italpollina SAP
  • Koppert B.V.
  • Biostadt India Ltd.

Market Segmentation

  • By Active Ingredients Outlook
    • Acid-based
    • Seaweed Extract
    • Microbial
    • Others
  • By Crop Type Outlook
    • Row Crops & Cereals
    • Fruits & Vegetables
    • Turf and Ornamentals
    • Others
  • By Application Outlook
    • Foliar Treatment
    • Soil Treatment
    • Seed Treatment
  • By Regional Outlook
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
      • Italy
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
    • Central & South America
      • Brazil
    • Middle East & Africa

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