Biostimulants Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

Biostimulants Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Humic Substance, Amino Acids, Microbial Stimulants, Seaweed Extracts, and Others), Mode of Application (Foliar Spray, Seed Treatment, and Soil Application), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and vegetables, Turf and Landscape, and Others), and Geography

  • Report Code : TIPRE00003199
  • Category : Chemicals and Materials
  • No. of Pages : 150
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Biostimulants Market Size, Growth, Share by 2031

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The Biostimulants Market size is projected to reach US$ 8.7 billion by 2031 from US$ 3.4 billion in 2023. The market is expected to register a CAGR of 10.9% in 2023–2031. The increasing focus on organic production practices is likely to remain key Biostimulants Market trends.

Biostimulants Market Analysis

Consumers across the world are increasingly adopting organic products, such as organic fruits, vegetables,  etc. The increasing health awareness among people and regarding health risks posed by chemical fertilizers and plant growth promoters has resulted in driving the demand for organic food. This is further encouraging farmers worldwide to produce crops using organic methods. The global need for organic food continues to grow. According to the IFOAM - Organics International, the organic farming area across the globe increased by over 20 million hectares in 2022, reaching 96 million hectares. The number of organic producers also saw a significant rise, surpassing 4.5 million. Hence, the rising demand for organic food, such as grains, pulses, fruits, and vegetables, globally is driving the biostimulants market.

Biostimulants Market Overview

Biostimulants are a mixture of substances or microorganisms that help improve crop conditions without causing any negative impact on the environment. Various studies have shown that biostimulants can be used as an additive to fertilizers, which helps reduce fertilizer use. They can also help nutrient uptake, plant growth and tolerance against abiotic stress. It supports plants' metabolic processes that help uptake essential nutrients.

Biostimulants are popular as plant growth stimulators. It helps strengthen root biomass, nutrient uptake, and enzymatic activities; hence the leading players are extensively increasing their production capabilities. Biostimulants rich in minerals, plant hormones, and amino acids encourage farmers to opt for such products.

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Biostimulants Market: Strategic Insights

Biostimulants Market

  • CAGR (2023 - 2031)
    10.9%
  • Market Size 2023
    US$ 3.4 Billion
  • Market Size 2031
    US$ 8.7 Billion

Market Dynamics

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OPPORTUNITIES
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Key Players

  • BASF SE
  • UPL Limited
  • Valagro
  • Gowan Company
  • FMC Corporation
  • ILSA S.p.A
  • Haifa Negev technologies LTD.
  • ADAMA
  • Rallis India Limited
  • AgriTecno Biostimulants and Plant Nutrition

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Product
  • Humic Substance
  • Amino Acids
  • Microbial Stimulants
  • Seaweed Extracts
Mode of Application
  • Foliar Spray
  • Seed Treatment
  • Soil Application
Crop Type
  • Cereals and Grains
  • Oilseeds and Pulses
  • Fruits and vegetables
  • Turf and Landscape
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Biostimulants Market Drivers and Opportunities

Technological Advancements for Biostimulants Production.

In the last several years, the proposal of technological innovations for enhancing the sustainability practices of agricultural production by significantly reducing synthetic agrochemicals, such as pesticides and fertilizers has brought revolution agriculture sector. Moreover, the developments in genetic engineering is leading to the production of highly effective biostimulants. Market players are also focusing on developing technologies for the production of biostimulants. For instance, in March 2020, Valagro announced the launch of Talete, a new biostimulant, originating from the exclusive GeaPower technology platform, to increase crop water productivity.

Increasing Use of Biostimulant as an Alternative to Conventional Fertilizer.

Biostimulants is a mixture of substances or microorganisms that improves the crop condition without causing any harmful impact on the environment. Biostimulants is also used as a preservative to fertilizers, thus, reducing fertilizer use. It can also leads to nutrient uptake, plant growth, and tolerance against abiotic stress. The utilization of biostimulants as an alternative to conventional fertilizer is responsible for driving the biostimulants market.

Biostimulants Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Biostimulants Market analysis are product, mode of application, and crop type.

  • Based on product, the Biostimulants Market is divided into humic substances, amino acids, microbial stimulants, seaweed extracts, and others. The humic substances segment held a larger market share in 2023.
  • By mode of application, the market is segmented into foliar spray, seed treatment, and soil application. The foliar spray segment held the largest share of the market in 2023.
  • In terms of crop type, the market is segregated into cereals and grains, oilseeds and pulses, fruits and vegetables, turf and landscape, and others. The cereals and grains segment leads the market in 2023.

Biostimulants Market Share Analysis by Geography

The geographic scope of the Biostimulants Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Europe has dominated the Biostimulants Market. The European Union's stringent guidelines on environmental safety and support for organic farming lined the way for a thriving biostimulants market in European countries such as Germany, Italy, Spain, and France. Biostimulants were applied to plants such as pome fruits, grape, citrus, olives, cabbage, broccoli, cucumber, carrots, cauliflower, onion, eggplant, turf, flowers, and ornamentals; these crops are high-valued. The European Union co-founded the BIOSUVEG project by the European Institute of Innovation & Technology (EIT), which aims to make vegetable cultivation more environmentally and economically sustainable by enhancing crop yields under challenging environmental conditions. These are some of the factors boosting the demand for biostimulants in the European countries. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Biostimulants Market Report Scope

Report Attribute Details
Market size in 2023 US$ 3.4 Billion
Market Size by 2031 US$ 8.7 Billion
Global CAGR (2023 - 2031) 10.9%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Product
  • Humic Substance
  • Amino Acids
  • Microbial Stimulants
  • Seaweed Extracts
By Mode of Application
  • Foliar Spray
  • Seed Treatment
  • Soil Application
By Crop Type
  • Cereals and Grains
  • Oilseeds and Pulses
  • Fruits and vegetables
  • Turf and Landscape
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BASF SE
  • UPL Limited
  • Valagro
  • Gowan Company
  • FMC Corporation
  • ILSA S.p.A
  • Haifa Negev technologies LTD.
  • ADAMA
  • Rallis India Limited
  • AgriTecno Biostimulants and Plant Nutrition
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Biostimulants Market News and Recent Developments

    The Biostimulants Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

    • FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, announced a collaboration in Canada with Novonesis (formerly Novozymes A/S), a leader in plant biosolutions. The agreement is part of FMC’s strategic plan to grow its biologicals platform in key markets. (Source: FMC Corporation, Press Release, 2024)
    • UPL, a global leader in sustainable agriculture solutions, announces that its Natural Plant Protection (NPP) business unit has entered into a strategic collaboration with Kimitec’s MAAVi Innovation Center (MAAVi IC) to deliver tailored BioSolutions technologies in the United States. (Source: UPL, Newsletter, 2022)

    Biostimulants Market Report Coverage and Deliverables

    The “Biostimulants Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed Porter’s Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Product, Mode of Application, and Crop Type

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

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