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2022
Biostimulant Market

Biostimulant Market

by Product Type (Acid-Based, Extract-Based, Others), by Crop Type (Row Crops And Cereals, Fruits And Vegetables, Turf And Ornamentals, Other Crops), by Application (Foliar Spray, Soil, Seed), : Global Opportunity Analysis and Industry Forecast, 2020-2031

✷  Report Code: A01971
Pages: 290
Mar 2022 | 18714 Views
Author(s) : Indranil C , Roshan D
Tables: 101
Charts: 58
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Biostimulant Market Research, 2031

The global biostimulant market was valued at $2,572.60 million in 2020, and is projected to reach $8,004.10 million by 2031, growing at a CAGR of 10% from 2022 to 2031.

The COVID-19 pandemic disrupted the food & beverage industry all across the globe. COVID-19 resulted in labor mobility restrictions, closure of production facilities, and a drop in the demand for the products has hindered the market growth. The sector also faced acute labor shortages as a result of recurrent lockdowns that disrupted manufacturing and trade operations. The decline in revenue in the first few months of 2020, along with decreased demand from a few important sectors, has put pressure on the profitability of biostimulant producers and suppliers. The vaccination drive and lockdown practices to limit the spread of the virus globally are likely to aid the biostimulant market growth

Biostimulants are biologically produced fertilizers that are used to stimulate plant development and productivity, in addition to the nourishment of agrarian products. A biostimulant boosts plant development and growth throughout the crop life cycle, i.e., from seed germination to plant maturity. These fertilizers further help in facilitating nutrient translocation, assimilation, and use; and enhance soil fertility mainly by stimulating the development of interdependent soil microorganisms.

The biostimulant market is segmented on the basis of product type, crop type, application, and region. On the basis of product type, the market is classified into acid-based, extract-based, and others. By crop type, the market is divided into row crops & cereals, fruits & vegetables, turfs & ornamentals, and others. On the basis of application, the market is categorized into foliar spray, soil, and seed. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy,Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Turkey, South Africa, and rest of LAMEA).

According to biostimulant market trends, on the basis of product type, the acid-based segment dominated the global biostimulant industry in 2021 and is expected to be dominant during the biostimulant market forecast period. The acid-based segment is expected to grow with a CAGR of 9.4%. Acid-based biostimulants have gained popularity as extensive usage of the types of acid-based biostimulant has enhanced the crop quality. The extensive usage is expected to fuel the growth of global biostimulant market size

Biostimulant Market
By Product Type

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Acid-Based segment dominates the Biostimulant market and is expected to retain its dominance throughout the forecast period.

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According to the biostimulant market, by crop type, the row crops and cereals segment was the one in which biostimulants were most commonly utilized to improve crop quality and productivity. Row crops and cereals are the most prevalent crops consumed across the globe, and as a consequence, demand for the crops by the population worldwide is witnessing growth. To cater to the global biostimulant market demand, the usage of biostimulants in crops is increasing, as biostimulants aid to boost crop growth and productivity. The growing economies that generate the majority of row crops and grains, such as India and China, have seen substantial use of biostimulants in crops.

Biostimulant Market
By Crop Type

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Row Crops and Cereals segment dominates the Biostimulant market and is expected to retain its dominance throughout the forecast period.

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On the basis of application, the foliar spray segment dominated the global market in 2021. The most frequent method of applying biostimulants to crops is the foliar spray. The spraying technique enables the farmer to cover the major amount of field with the least amount of biostimulant. The spraying approach also helps to reduce biostimulant wastage. As a result, the worldwide agricultural sector prefers and adapts the use of foliar spray to disperse biostimulants in crops. The growing use of foliar spray has propelled the global biostimulant market growth in the foliar spray category.

Biostimulant Market
By Application

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Foliar Spray segment dominates the Biostimulant market and is expected to retain its dominance throughout the forecast period.

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Region wise, Europe dominated the biostimulant market in 2021, and is expected to be dominant during the forecast period. The dominance in the market is largely due to existence of agricultural operations in the Europe region, and the availability of several variants of acid and extract-based biostimulants for different crop types that are preferred by the user. Increase in demand for biostimulants in the agricultural sector of Europe drives the growth of the biostimulants products.

Biostimulant Market
By Region

2031
Europe 
Lamea
North America
Asia-pacific

The Europe segment dominates the Biostimulant market and is expected to retain its dominance throughout the forecast period.

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The players operating in the global biostimulant market have adopted various developmental strategies to expand their biostimulant market share to increase profitability, and remain competitive in the market. The key players profiled in this report include BASF SE, BiolchimS.p.A., Biostadt India Limited, Biovert S.L., Hello Nature, IsagroS.p.A., Koppert B.V., Lallemand, Inc., Novozymes A/S, and Valagro.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biostimulant market analysis from 2020 to 2031 to identify the prevailing biostimulant market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the biostimulant market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global biostimulant market trends, key players, market segments, application areas, and market growth strategies.

Biostimulant Market Report Highlights

Aspects Details
By Product Type
  • Acid-Based
  • Extract-Based
  • Others
By Crop Type
  • Row Crops And Cereals
  • Fruits And Vegetables
  • Turf And Ornamentals
  • Other Crops
By Application
  • Foliar Spray
  • Soil
  • Seed
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, U.K., France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Argentina, Turkey, South Africa, Rest of LAMEA)
Key Market Players BASF SE, Biolchim S.p.A., biostadt india limited, Biovert S.L., Hello Nature, Isagro S.p.A., Koppert B.V., Lallemand, Inc., Novozymes A/S, Valagro
 

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Product innovation, processing, and regulations are main areas for market growth in the biostimulant industry. Agri-food product market expansion and economic growth in advanced and emerging economies also support the market growth. However, low awareness among farmers about biostimulants hinders the market growth. Asia-Pacific is projected to register a significant growth as compared to the saturated markets in Europe and North America, due to increase in initiatives regarding sustainable agricultural by local government bodies and other favorable regulations.

Biostimulants have also been found to aid to enhance disease and pest resistance. A plant with a robust root system will be able to withstand external pressures better since its growth rate will be faster, and insect assaults will be less frequent. With the advent of new biostimulant variations, the support provided to plants and crops is assisting them in activating the plant's autoimmune system to cope with foreign invasion or growth.

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FREQUENTLY ASKED QUESTIONS?

A. The global biostimulant market size was valued at $3,051.1 million in 2021, and is estimated to reach $8,004.1 million by 2031, registering a CAGR of 10.0% from 2022 to 2031.

A. The global biostimulant market registered a CAGR of 10.0% from 2022 to 2031.

A. Raise the query and paste the link of the specific report and our sales executive will revert you back with the sample.

A. The forecast period in the biostimulant market report is from 2022 to 2031.

A. The top companies that hold the market share in biostimulant market include BASF SE, Biolchim S.p.A., Biostadt India Limited, Biovert S.L., and Novozymes A/S.

A. The biostimulant market report has 3 segments. The segments are product type, crop type, and application.

A. The emerging countries in the biostimulant market is likely to grow at a CAGR of more than 12.5% from 2022 to 2031.

A. Europe will dominate the biostimulant market by the end of 2031.

A. Post COVID-19, the ease of lockdown, reopening of state, country, and international borders have solved the problem of labor shortages. On the other hand, consumer demand for crops and grains is growing, which will drive up sales of biostimulant as farming continues to meet demand.

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