The global biostimulants market size is expected to grow at a substantial pace across the globe as the high-value crops are being increasingly demanded in the market. Biostimulants are bio-fertilizers that are supplied in soil, seeds or plants and are used in improving the crop production and enhancing the growth of the crops. The biostimulants are made up of biological substances and compounds that protect the plants from variations in weather such as heat, cold or droughts. It also increases water retention capacity and chlorophyll yield to enhance the nutrient intake of the plants and seed. Additionally, these improve the plants’ metabolism, quality, and increase its weather tolerance which leads to the development of soil micro-organisms to enhance soil fertility.
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Various factors contribute to the growth of biostimulants market; however, the market is primarily being driven by strong demand for high-value crops across the globe. Furthermore, technological advancements by companies in most of the regions have led to an increased demand for biostimulants products. Other factors driving the growth of the market comprise recognition of the need to support crop growth due to harsh weather conditions and abiotic stress, increased need for soil fertility, and promote organic growth of the plants as demanded by different regions. Moreover, biostimulants are easily available in the market and have low cost due to which these have high demand across the globe.
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The availability of arable land is decreasing globally due to an increase in population and the resulting rising demand for food. This will act as an opportunity for the manufacturers of biostimulants as these require less space to produce crops in better quality and quantity along with the preservation of the soil against degradation. The biostimulants market has been divided on the basis of active ingredients that include humic and fulvic acids, protein hydrolysates, seaweed extracts, microbial elements, and others. In this segment, protein hydrolysates are expected to have a substantial share in the market.
Furthermore, seaweed extract is expected to fuel the growth of the biostimulants industry due to its highly nutritious constituents that comprise gibberellins carbohydrates, auxins, and cytokines along with other metals such as potassium, iron, aluminum and so on. The humic and fulvic acids will also have an increased demand as these improve the germination, root development and nutrient intake of crops. Further, the market has been segmented on the basis of an application that includes foliar treatment, soil treatment, and seed treatment. The foliar treatment is expected to have a significant market share, although seed treatment is anticipated to have a higher growth rate due to its effortless and cost-effective solutions.
The major players who are involved in the manufacturing and distribution of biostimulants for distributing a wide range of crops are based in Asian and European countries. Asia-Pacific is projected to have a substantial share in the biostimulants market due to government support, campaigns and incentives, increased consumer preference for organic products, and increased demand for eco-friendly farming techniques. The key companies include BASF SE, Syngenta Crop Protection AG, Bayer SPA, UPL, Ltd., Acadian Seaplants, Ltd., SICIT 2000 S.p.A., Italpollina SPA, and ValagroSpA.
The companies adopt different strategies to retain their position and expand in the global market. These strategies include mergers and acquisitions, joint ventures, and development and launch of new products. For instance, in February 2019, UPL Ltd. acquired ArystaLifescience Corp. which is a US-based company. This acquisition assisted the company in increasing its product sales in the biostimulants market. Further, in August 2018, Valagro launched two new products Opifol and YieldOn in India that assisted in improving the productivity and quality of row crops for the farmers. Furthermore, the key players increase their market share through technological advancements and research and development in this field.
Current Market Trends Covered in the Market Report:
- Robust demand for plant-promoting biostimulants
- New product development and launch – a key driver of competition in this market
- The growing trend towards greenhouse horticulture
- Increased demand for eco-friendly farming products
- Asia-Pacific region to have a significant growth in the future
The Report Global Biostimulants Market Segmentation
By Active Ingredients
- Humic and Fulvic Acids
- Protein Hydrolysates
- Seaweed Extracts
- Microbial Elements
- Others (Biopolymers and Inorganic Compounds)
By Application Method
- Foliar Treatment
- Soil Treatment
- Seed Treatment
By Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Acadian Seaplants Ltd
- AG Concepts Corp.
- Agricen
- Agrichem, S.A.
- Agricultural Sciences, Inc.
- Agrinos AS
- Artal Smart Agriculture
- BASF SE
- Bayer SPA
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