Global Biostimulants Market to Expand at an Astounding Healthy CAGR During Forecast Period

Seeds, plants, and soil can be given biostimulants, which are natural or synthetic substances. These compounds modify fundamental and structural processes in plants to improve tolerance to abiotic stresses and increase seed and grain output and quality. In addition, biostimulants reduce the need for fertilizers.

Market Dynamics

Increased Yield and Productivity and Greater Emphasis on Sustainable Farming to Boost Global Biostimulants Market Growth

Agriculture is critical to human well-being and the global economy's overall stability. Meeting future food demands and production requirements will be essential due to the growing global population. One of the innovations and technologies that has recently arisen in support of the agriculture business is the use of biostimulants to boost agricultural output.

Plant production increases when biostimulants are used since they help with nutrient uptake while also being environmentally friendly. Beneficial bacteria in biostimulants improve nutrient uptake, abiotic stress tolerance, and overall crop development. Over the forecast period, increased environmental health concerns are expected to contribute to the market's rise. Biostimulants are used in agricultural fields as an alternative to chemical input.

Increased mainstream agricultural support and sustainable agriculture techniques have resulted in more secure field deployment of biostimulants. Farmers who practice sustainable agriculture use fewer biostimulants, saving money, productivity, and the environment. Biostimulants in sustainable agriculture give new and commercially viable options for farmers, laborers, and consumers and solve various environmental and social concerns. This is one of the most significant growth drivers in the market under consideration.

Expansion of the Organic Food Industry to Open Up Lucrative Opportunities for the Global Biostimulants Market

Organic biostimulants are critical for the agriculture industry’s future to promote organic practices. Biostimulants can boost soil microorganisms, allowing for more efficient nutrient absorption. Others boost plants' antioxidant activity and resistance to environmental stresses and disease strain.

The global organic food industry is growing exponentially in response to the growing need for food security and the importance of safe farming practices. Organic food is preferred by many health-conscious consumers worldwide who want to avoid the harmful health effects of inorganic food's chemical preservatives and genetically modified ingredients.

Farmers are looking for better ways to use synthetic chemicals and mineral fertilizers to create healthy foods with minimal environmental impact. Biostimulants demand is growing as more organic food is cultivated without pesticides or fertilizers. As a result, demand for biostimulants increases as organic agriculture becomes more popular.

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Impact of COVID-19

A considerable difference between the number of workers needed and those available for biostimulant manufacturing resulted from a short-term labor shortage and distribution challenges. The absence of growers in large-scale plantations further impeded organic crop output. In preparation for countrywide lockdowns, organic growers were buying biostimulants in bulk or larger pack sizes to ensure a sufficient supply for later stages of plant growth. Additionally, there was a considerable decline in biostimulant supply since major online retailers such as Amazon and Walmart restricted or delayed deliveries due to COVID-19.

Regional Insights

The global biostimulants market is dominated by Europe, with revenue expected to expand at a CAGR of 12.34% to USD 3,332 million by 2030. Germany is at the forefront of enhancing Europe's top priorities of intellectual growth and bio-based economic innovation. Biostimulants are an essential part of the process. Businesses manage unique agricultural demands and expand the use of biostimulants by focusing on high-value crops to more standard crops.

With a CAGR of 11.32% predicted to create USD 2,392 million in sales by 2030, the North American region accounts for the second-largest proportion of the global biostimulants market. The United States is a significant consumer of biostimulants in North America. From the start, the country has adapted to the use of biostimulants to improve agricultural output and vigor, particularly in the case of seed treatment.

Biostimulants are essential in the region due to a lack of rainfall. There is no or very little rain in the region during significant growing seasons. The demand for biostimulants is expected to rise shortly as they regulate plant development by increasing tolerance to abiotic stress.

Key Highlights

  • The global biostimulants market is projected to reach USD 7,879 million by 2030, from USD 2,897 million in 2021, and is anticipated to register a CAGR of 11.76% between 2022 and 2030.
  • By origin, natural biostimulants accounted for the largest share in the global biostimulants market and are anticipated to grow at a CAGR of 11.94%, generating revenue of USD 5,964 million by 2030.
  • Based on active ingredients, seaweed extracts led the biostimulants market and are projected to grow at a CAGR of 11.63%, generating a revenue of USD 2,351 million by 2030.
  • Based on application, the foliar sector dominates the global biostimulants market and is anticipated to grow at a CAGR of 11.86% and generate a revenue of USD 2,017 million by 2030.
  • By crop type, grains and cereals held the largest share in 2021 and are forecasted to grow at a CAGR of 12%, generating a revenue of USD 2,589 million by 2030.

Key Players in the Global Market

Some of the key players in the global biostimulants market are UPL Corporation Limited, Isagro SpA, Agrinos AS (Ambac), Ilsa SpA, Biostadt India Ltd, Valagro SpA, Eastman Chemical Company, Lallemand Inc., Atlantica Agricola SA, Brandt Consolidated Inc., Italpollina SpA (Hello Nature), Koppert Biological Systems, Micromix Plant Health Ltd, and Omex Agrifluids Ltd.

Market News

  • In January 2022, UPL Corporation, the worldwide branch of UPL Limited, has secured a USD 700 million sustainability loan from international banks, including Societe Generale, HSBC, and Italy's Intesa.
  • In October 2021, Eastman Chemical Company and several of its subsidiaries have entered into a final agreement to sell their adhesives resins assets and business to Synthomer plc for USD 1 billion in total cash consideration. The transaction includes product lines for hydrocarbon resins (including Eastman Impera tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid-based resins. The business currently falls under the Additives and Functional Products section of Eastman.
  • In March 2019, Horticultural Alliance, Inc., based in Florida, was acquired by Italpollina SpA. Horticultural Alliance, Inc. is a company that focuses on organic plant health and management (USA). Italpollina SpA has also established a new company in the United States to manufacture and market organic fertilizers across North America.

Global Biostimulants Market: Segmentation

By Origin

  • Natural Biostimulants
  • Biosynthetic Biostimulants

By Active Ingredient

  • Humic Acid
  • Fulvic Acid
  • Amino Acids
  • Protein Hydrolysates
  • Seaweed Extracts
  • Other Active Ingredients

By Application

  • Foliar
  • Soil
  • Seed

By Crop Type

  • Grains and Cereals
  • Pulses and Oilseeds
  • Commercial Crops
  • Fruits and Vegetables
  • Other Crop Types

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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