Preliminary research of Fairfield Market Research indicates a promising growth outlook for global biostimulant market during the course of next few years.
Key Report Findings
Market Analysis in Brief
Extensively used on vegetables, fruits, and cereals, biostimulants prominently find wide application in North America’s ornamental and turf sector. With agriculture industry consistently facing the threat in form of deteriorating soil fertility, evolving climatic conditions, a host of plant diseases, and overuse of pesticides, use of biostimulants presents a reliable potential solution. In this backdrop, the boom around organic farming has been on the rise over the recent past, which is creating a favorable growth environment for the biostimulant market. With anticipated growth in adoption of sustainable farming practices, demand for biostimulants will also heighten.
Growth Drivers
Escalating Demand for Higher Crop Productivity
The growing adoption of sustainable agriculture continues to strengthen revenues generated by the global biostimulant market. The agricultural and food production systems of the world are facing unprecedented challenges from a range of factors, including booming population figures, rising levels of hunger and malnutrition, the negative effects of climate change, unprecedented loss of biodiversity, and the overexploitation of natural resources. The scarcity of cultivable land is boosting the demand for biostimulants to boost crop productivity.
Furthermore, the biostimulants market continues to index growth due to the increasing use of biostimulants in powder form found in cosmetic goods such as soaps, shampoos, and creams. The biostimulants market is also expected to be driven by the manufacturing of liquid biostimulants for usage in fertilizers and insecticides due to improved plant stress tolerance. Several agricultural science advancements and the ongoing influx of investments toward R&D activities are also slated to likely boost biostimulant market growth. This market is being augmented by well-established businesses engaging in various R&D initiatives.
For instance, in June 2021, Using GoActiv Technology, UPL Australia unveiled a new line of biostimulant treatments that target specific crop physiological pain sites or abiotic stresses in fruits and vegetables, as well as vine and tree crops. To prove their respective dominance in the global biostimulant market, several established organizations as well as SMEs pursue strategies including mergers & acquisitions, as well as collaborations with government bodies and other entities.
Organic Farming Boom
In organic farming and gardening, biostimulants play a crucial role in crop nutrition and protection. Following the onset of the pandemic in 2020, customers began to buy more organic goods as a preventive health measure, ushering in a paradigm shift in consumer behaviour. This shift is expected to accelerate the expansion of the organic food sector. This will increase the demand for biostimulants even further. Organic food is residue-free, doesn't spread hazardous diseases, and does not cause environmental damage, as such, it is increasingly in demand for personal health and sustainable reasons. Thus, the demand for biological crop nutrition is expected to expand due to the increased demand for organic food and the adoption of organic farming practices.
According to FiBL-IFOAM-SOEL-Surveys, organic farming has been implemented in 187 nations, and as of the end of 2019, 3.1 million organic farmers harvested crops on approx. 72.3 million hectares of agricultural land. These surveys also expect the organic market to grow quickly as the demand for organic products rises. In addition, FiBL-IFOAM-SOEL reports that organic food & beverage sales increased from US$81.6 Bn in 2015 to US$119.1 Bn in 2019.
Increasing Government Support
Respective governments have increased their agricultural production of superior goods with little-to-no pollution due to increasing agricultural emission concerns. Governments worldwide are beginning to educate farmers about the many advantages of bio-based agricultural solutions. In the coming years, market growth is expected to be greatly aided by these governmental initiatives. Additionally, several regulatory bodies and councils have been set up to promote and aid in a positive business environment for the sector.
Around the world, a growing number of authorities are beginning to regulate biostimulants, which is expected to be good for this market's further expansion. For instance, in April 2021, the Government of India announced the establishment of a regulatory agency and compliance standards for their domestic biostimulant market. According to the regulations, producers must pre-register with the government and label their products with chemical composition tables and expiration dates.
Growth Challenges
Lack of Regulatory Standardization
The development and expansion of the biostimulant market throughout the projected timeline may be hampered in many emerging economies due to a lack of standardized regulations concerning a product's commercialization. The growth of the biostimulant market is constrained by a lack of quality products that are widely known and readily accessible, a lack of confidence in newly launched products, and unstable regulatory and supportive policies for networks. The bulk of these markets often obtain the data needed from those products that have synthetic substances. Similarly, even though these products have been used in commerce for over 60 years, there are currently no recognized endpoints for risk evaluations.
COVID-19 Impact
Consumer buying habits during the COVID-19 pandemic indicated a major shift from non-organic to organic, which is still happening today. Slowly but surely, the emphasis on preventative healthcare is bringing about a change in traditional farming methods worldwide. Producers are being urged to produce more using resources and methods that are more environmentally friendly. The pandemic sped up the manufacturing sector's transition from international to local-based economies. In the mix of it all, producers of biostimulant raw materials faced issues related to operational continuity and supply constraints. Governments worldwide, however, largely supported the agriculture sector, and extensive efforts were made to manage the normal streamlining of operations to sustain productivity.
Overview of Key Segments
Seaweed Extract Segment Secures Top Spot
The biostimulant market based on application is segmented into humic substances, humic acid, fulvic acid, seaweed extracts, microbial amendments, amino acids, and other active ingredients (including vitamins, trace minerals, and polysaccharides). The seaweed extracts sub-segment is expected to dominate the market over the forecast period due to expanding seaweed production operations. In agriculture, seaweed extracts are becoming increasingly well-known for enhancing the health and productivity of plants. For a long time, these extracts have been used, either directly or indirectly, to increase crop production and soil fertility.
Auxin, cytokinins, major and minor nutrients, amino acids, vitamins, and compounds related to growth promotion like abscisic acid are also present in seaweed extracts, thus fuelling a rise in revenues for this sub-segment. Humic compounds, such as humic and fulvic acids, have long been used by farmers to produce various crops. These products have a strong potential to cause severe morphological alterations in the roots. Additionally, these compounds support changing nutrient absorption and acquisition activities in plant membranes.
Foliar Application Category to Remain Dominant
Based on the mode of application, the biostimulant market is segmented into foliar, soil treatment, and seed treatment. The foliar category accounted for the largest market share in 2021 and is expected to increase significantly over the next several years as this method is highly effective at enhancing plant health. Several studies and research have proved the advantages of foliar treatment. Despite being put through difficult circumstances, they contributed to raising yields for crops including maize, cowpeas, and onions. Following a study by Ali et al., 2019, the foliar application of alpha-tocopherol improved wheat's antioxidant defense system, photosynthetic efficiency, water uptake, utilization, and photosynthetic pigment levels to boost drought tolerance.
Growth Opportunities Across Regions
Europe to Benefit from Governments’ Take on Sustainable Farming Products
Over the forecast period, it is expected that the European biostimulant market will account for the largest revenue share due to the increased attention respective governments have placed on the use of sustainable farming products, tools, and techniques, as well as several biostimulants promoting councils in the region. For instance, a legal framework for "Plant Strengtheners" (PS), which are biostimulants as specified in Section 2.1, was created in Germany by the Federal Office of Consumer Protection and Food Safety (BVL). The European Union's agricultural regulatory framework is becoming more open to environmental considerations, encouraging the creation of novel models, methods, and practices that are sustainable, eco-friendly, and enable a plant to make the most of its resources. In Europe, biostimulant compounds are already used extensively and this is expected to increase significantly over the forecast period.
North America to Grow Lucrative with Spike in Funding for Agri-Bio-R&D
The biostimulant market in North America is expected to experience stable revenue growth over the forecast period due to increasing funding for agricultural biological research and development initiatives. These products have been found to be a perfect alternative to traditional chemical treatments for boosting plant vigour and growth. These are increasingly seen as a seamless part of a comprehensive strategy to boost yields. One of the main factors influencing agricultural research development and the adoption of these bioproducts in enhancing stress tolerance and growth in various crops is the recent advancements in science and technology. Furthermore, the sale of these products is being driven in this region by the rising use of organic agricultural techniques and the synergistic effects of PGP. According to a 2019 organic survey conducted by the US Department of Agriculture (USDA), there were 16,585 organic farms in the country.
Global Biostimulant Market: Competitive Landscape
A few players in the biostimulant market include BASF SE, UPL, Valagro S.p.A, Gowan Company, ILSA S.p.A., Rallis India Limited, Haifa Group, Adama Ltd., Biovert S.l., Start-ups/SME’s, Koppert Biological Systems, Tradecorp International, Agritecno, Axeb Biotech Sl, Mafa Bioscience, Lawrieco, Devi Cropscience, Bioflora, Agricen, and Bonumose Inc.
Recent Notable Developments
Regional Classification of Global Biostimulant Market is Listed Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Biostimulant Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
1. Executive Summary
1.1. Global Biostimulants Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-covid and Post-covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. New Product Launch, R & D, and Developments
2.9. Global Biological Products – Market Overview
2.10. Economic Analysis
2.11. PESTLE
3. Production Output and Trade Statistics, 2019 – 2022
3.1. Regional Production Statistics
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East & Africa
3.2. Trade Statistics
4. Price Trends Analysis and Future Projects, 2019 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Active Ingredient
4.4. By Region
5. Global Biostimulants Market Outlook, 2019 - 2030
5.1. Global Biostimulants Market Outlook, by Active Ingredient, Volume (Tons) and Value (US$ Mn), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Seaweed Extracts
5.1.1.2. Organic Acids
5.1.1.3. Microbials & Amendments
5.1.1.4. Vitamins & Amino Acids
5.1.1.5. Trace Elements
5.1.1.6. Misc.
5.2. Global Biostimulants Market Outlook, by Application, Volume (Tons) and Value (US$ Mn), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Foliar
5.2.1.2. Soil
5.2.1.3. Seed
5.3. Global Biostimulants Market Outlook, by Crop Type, Volume (Tons) and Value (US$ Mn), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. Fruits & Vegetables
5.3.1.2. Row Crops & Cereals
5.3.1.3. Turf & Ornamentals
5.3.1.4. Misc.
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Global Biostimulants Market Outlook, by Region, Volume (Tons) and Value (US$ Mn), 2019 - 2030
5.4.1. Key Highlights
5.4.1.1. North America
5.4.1.2. Europe
5.4.1.3. Asia Pacific
5.4.1.4. Latin America
5.4.1.5. Middle East & Africa
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. North America Biostimulants Market Outlook, 2019 - 2030
6.1. North America Biostimulants Market Outlook, by Active Ingredient, Volume (Tons) and Value (US$ Mn), 2019 - 2030
6.1.1. Key Highlights
6.1.1.1. Seaweed Extracts
6.1.1.2. Organic Acids
6.1.1.3. Microbials & Amendments
6.1.1.4. Vitamins & Amino Acids
6.1.1.5. Trace Elements
6.1.1.6. Misc.
6.2. North America Biostimulants Market Outlook, by Application, Volume (Tons) and Value (US$ Mn), 2019 - 2030
6.2.1. Key Highlights
6.2.1.1. Foliar
6.2.1.2. Soil
6.2.1.3. Seed
6.3. North America Biostimulants Market Outlook, by Crop Type, Volume (Tons) and Value (US$ Mn), 2019 - 2030
6.3.1. Key Highlights
6.3.1.1. Fruits & Vegetables
6.3.1.2. Row Crops & Cereals
6.3.1.3. Turf & Ornamentals
6.3.1.4. Misc.
6.4. North America Biostimulants Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2019 - 2030
6.4.1. Key Highlights
6.4.1.1. U.S.
6.4.1.2. Canada
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Biostimulants Market Outlook, 2019 - 2030
7.1. Europe Biostimulants Market Outlook, by Active Ingredient, Volume (Tons) and Value (US$ Mn), 2019 - 2030
7.1.1. Key Highlights
7.1.1.1. Seaweed Extracts
7.1.1.2. Organic Acids
7.1.1.3. Microbials & Amendments
7.1.1.4. Vitamins & Amino Acids
7.1.1.5. Trace Elements
7.1.1.6. Misc.
7.2. Europe Biostimulants Market Outlook, by Application, Volume (Tons) and Value (US$ Mn), 2019 - 2030
7.2.1. Key Highlights
7.2.1.1. Foliar
7.2.1.2. Soil
7.2.1.3. Seed
7.3. Europe Biostimulants Market Outlook, by Crop Type, Volume (Tons) and Value (US$ Mn), 2019 - 2030
7.3.1. Key Highlights
7.3.1.1. Fruits & Vegetables
7.3.1.2. Row Crops & Cereals
7.3.1.3. Turf & Ornamentals
7.3.1.4. Misc.
7.4. Europe Biostimulants Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2019 - 2030
7.4.1. Key Highlights
7.4.1.1. Germany
7.4.1.2. France
7.4.1.3. U.K.
7.4.1.4. Italy
7.4.1.5. Spain
7.4.1.6. Russia
7.4.1.7. Turkey
7.4.1.8. Rest of Europe
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Biostimulants Market Outlook, 2019 - 2030
8.1. Asia Pacific Biostimulants Market Outlook, by Active Ingredient, Volume (Tons) and Value (US$ Mn), 2019 - 2030
8.1.1. Key Highlights
8.1.1.1. Seaweed Extracts
8.1.1.2. Organic Acids
8.1.1.3. Microbials & Amendments
8.1.1.4. Vitamins & Amino Acids
8.1.1.5. Trace Elements
8.1.1.6. Misc.
8.2. Asia Pacific Biostimulants Market Outlook, by Application, Volume (Tons) and Value (US$ Mn), 2019 - 2030
8.2.1. Key Highlights
8.2.1.1. Foliar
8.2.1.2. Soil
8.2.1.3. Seed
8.3. Asia Pacific Biostimulants Market Outlook, by Crop Type, Volume (Tons) and Value (US$ Mn), 2019 - 2030
8.3.1. Key Highlights
8.3.1.1. Fruits & Vegetables
8.3.1.2. Row Crops & Cereals
8.3.1.3. Turf & Ornamentals
8.3.1.4. Misc.
8.4. Asia Pacific Biostimulants Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2019 - 2030
8.4.1. Key Highlights
8.4.1.1. China
8.4.1.2. Japan
8.4.1.3. South Korea
8.4.1.4. India
8.4.1.5. Southeast Asia
8.4.1.6. Rest of Asia Pacific
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Biostimulants Market Outlook, 2019 - 2030
9.1. Latin America Biostimulants Market Outlook, by Active Ingredient, Volume (Tons) and Value (US$ Mn), 2019 - 2030
9.1.1. Key Highlights
9.1.1.1. Seaweed Extracts
9.1.1.2. Organic Acids
9.1.1.3. Microbials & Amendments
9.1.1.4. Vitamins & Amino Acids
9.1.1.5. Trace Elements
9.1.1.6. Misc.
9.2. Latin America Biostimulants Market Outlook, by Application, Volume (Tons) and Value (US$ Mn), 2019 - 2030
9.2.1. Key Highlights
9.2.1.1. Foliar
9.2.1.2. Soil
9.2.1.3. Seed
9.3. Latin America Biostimulants Market Outlook, by Crop Type, Volume (Tons) and Value (US$ Mn), 2019 - 2030
9.3.1. Key Highlights
9.3.1.1. Fruits & Vegetables
9.3.1.2. Row Crops & Cereals
9.3.1.3. Turf & Ornamentals
9.3.1.4. Misc.
9.4. Latin America Biostimulants Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2019 - 2030
9.4.1. Key Highlights
9.4.1.1. Brazil
9.4.1.2. Mexico
9.4.1.3. Rest of Latin America
9.4.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Biostimulants Market Outlook, 2019 - 2030
10.1. Middle East & Africa Biostimulants Market Outlook, by Active Ingredient, Volume (Tons) and Value (US$ Mn), 2019 - 2030
10.1.1. Key Highlights
10.1.1.1. Seaweed Extracts
10.1.1.2. Organic Acids
10.1.1.3. Microbials & Amendments
10.1.1.4. Vitamins & Amino Acids
10.1.1.5. Trace Elements
10.1.1.6. Misc.
10.2. Middle East & Africa Biostimulants Market Outlook, by Application, Volume (Tons) and Value (US$ Mn), 2019 - 2030
10.2.1. Key Highlights
10.2.1.1. Foliar
10.2.1.2. Soil
10.2.1.3. Seed
10.3. Middle East & Africa Biostimulants Market Outlook, by Crop Type, Volume (Tons) and Value (US$ Mn), 2019 - 2030
10.3.1. Key Highlights
10.3.1.1. Fruits & Vegetables
10.3.1.2. Row Crops & Cereals
10.3.1.3. Turf & Ornamentals
10.3.1.4. Misc.
10.4. Middle East & Africa Biostimulants Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2019 - 2030
10.4.1. Key Highlights
10.4.1.1. GCC
10.4.1.2. South Africa
10.4.1.3. Rest of Middle East & Africa
10.4.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Company Profiles
11.3.1. BASF SE
11.3.1.1. Company Overview
11.3.1.2. Product Portfolio
11.3.1.3. Financial Overview
11.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
11.3.2. Isagro Group
11.3.3. Biolchim SpA
11.3.4. Sapec Agro S.A.
11.3.5. Novozymes A/S
11.3.6. Valagro SpA
11.3.7. Koppert B.V.
11.3.8. UPL Limited
11.3.9. Haifa Group
11.3.10. Humintech GmbH
11.3.11. Hello Nature International Srl
11.3.12. TAGROW CO., LTD.
11.3.13. AXEB BIOTECH SL
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
BASE YEAR |
HISTORICAL DATA |
FORECAST PERIOD |
UNITS |
|||
2022 |
|
2019 - 2022 |
2023 - 2030 |
Value: US$ Mn Volume: Tons |
REPORT FEATURES |
DETAILS |
Active Ingredient Coverage |
|
Application Coverage |
|
Crop Coverage |
|
Geographical Coverage |
|
Leading Market Companies |
|
Report Highlights |
Market Estimates and Forecast, Market Dynamics, Industry Trends, Production Output, Trade Statistics, Competition Landscape, Active Ingredient-, Application-, Crop Type-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Market Trends |
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
View Methodology