Biostimulants Market size to increase by USD 1.51 billion between 2022 to 2027, ADAMA Ltd., Bayer AG, Bioiberica S.A.U., and more among key companies, Technavio
NEW YORK , March 6, 2024 /PRNewswire/ -- The biostimulants market size is expected to grow by USD 1.51 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 10.68% during the forecast period, according to Technavio. Increasing demand for biostimulants in the agricultural industry is notably driving the biostimulants market. However, factors such as rise in demand for fertilizers may impede market growth. The market is segmented by Product (Acid-based, Extract-based, and Others), Application (Foliar, Soil, and Seed), Type (Row crops and cereals, Fruits and vegetables, Turfs and ornaments, and Others), and Geography (Europe, APAC, North America, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the biostimulants market, including ADAMA Ltd., Bayer AG, Bioiberica S.A.U., Biolchim Spa, Biostadt India Ltd., Biovert SL, Crop Demetra Ltd., FMC Corp., Haifa Group, Idai Nature S.L, Italpollina Spa, Koppert, Micromix Plant Health Ltd., Novozymes AS, OMEX, RAG Stiftung, SEIPASA SA, SICIT Group Spa, UPL Ltd., and Atlantica Agricola.
The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate
Key Companies
ADAMA Ltd:- The company offers biostimulants such as Brevis.
This report provides a full list of key companies, their strategies, and latest developments.
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Segmentation
The market is segmented by Product (Acid-based, Extract-based, and Others), Application (Foliar, Soil, and Seed), Type (Row crops and cereals, Fruits and vegetables, Turfs and ornaments, and Others), and Geography (Europe, APAC, North America, South America, and Middle East and Africa).
Product
- The acid-based segment will be significant during the forecast period. Generally, seaweed extracts and ascophyllum nodosum are some of the most used extract-based biostimulants. These biostimulants improve soil properties, including water retention capability and soil porosity. These biostimulants facilitate microbial activities in the soil, thereby enhancing nutrient uptake and utilization in plants. However, acid-based biostimulants support vegetative growth, early flowering, flower and fruit maturity, and fruit quality. The development of this segment is primarily attributed to the increasing adoption of Biostimulants, which is driven by an increase in the global demand for the Biostimulants Industry.
Geography
- North America will account for 32% of the global market growth. Factors like the presence of leading biostimulant manufacturers further support market growth in the country. Furthermore, the increasing agricultural activities, including soybean, hogweed, wheat, and grapes cultivation, contribute to the rising consumption of biostimulants. Consequently, the biostimulants market in the US is expected to grow during the forecast period.
- Europe, APAC, South America, and Middle East and Africa.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions.
Analyst Review
In the modern agriculture, the biostimulants market stands out as a pivotal player driving sustainable practices and enhanced crop yields. As global concerns regarding environmental impact and food security escalate, the demand for biostimulants continues to soar, reflecting a fundamental shift towards eco-friendly farming solutions.
Biostimulants are organic substances applied to plants or soils to promote growth efficiency, stress tolerance, and nutrient uptake. Their significance lies in their ability to augment plant metabolism and defense mechanisms, thereby bolstering resilience to adverse conditions. This unique mode of action renders biostimulants indispensable tools for modern agricultural practices.
One of the primary drivers propelling the biostimulants market forward is the escalating need for sustainable agricultural practices. With conventional farming methods often reliant on chemical inputs with detrimental environmental consequences, biostimulants offer a promising alternative. By harnessing natural processes to enhance plant performance, they contribute to reduced chemical dependency and minimized ecological footprint.
Furthermore, biostimulants play a crucial role in addressing the challenges posed by climate change. As erratic weather patterns become increasingly prevalent, farmers face mounting pressure to adapt to adverse conditions. Herein lies the value of biostimulants, which equip plants with the resilience needed to withstand heat, drought, or other environmental stressors, ensuring consistent yields despite fluctuating circumstances.
The biostimulants market encompasses a diverse array of products tailored to meet varying agricultural needs. From seaweed extracts to humic acids and amino acids, the range of biostimulants available caters to different crops and growth stages. This versatility underscores their applicability across a wide spectrum of agricultural contexts, from large-scale farms to smallholder operations.
In addition to their agronomic benefits, biostimulants also offer economic advantages for growers. By improving crop quality and yield potential, they contribute to enhanced profitability and competitiveness in the market. Moreover, their compatibility with integrated pest management strategies further reinforces their value proposition, fostering holistic approaches to crop production.
In conclusion, the biostimulants market represents a cornerstone of sustainable agriculture, driving innovation and resilience in the face of mounting challenges. With their multifaceted benefits encompassing environmental stewardship, climate resilience, and economic viability, biostimulants emerge as indispensable allies in the quest for a more sustainable food system.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com
SOURCE Technavio
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