Biostimulants Market to Generate $7.81 Billion Revenue by 2030, Says P&S Intelligence

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Dec 07, 2022, 08:10 ET

NEW YORK, Dec. 7, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, in 2021, the biostimulants market had a total size of $3.0 billion, and it is predicted to hit $7.81 billion by 2030, progressing at a rate of 11.3% from 2021 to 2030. This is a result of the growing food demand, burgeoning global population, rising malnutrition and hunger, and unfavorable climate change.

Amino Acid Is Most Commonly Used

Due to the chemical's growing demand, high sustainability, and economic viability, the amino acid category had the largest share in the industry in the past.

Moreover, the demand for this nutrient is driven by the increasing consumer awareness about its health advantages and the growing usage of humic acid in animal feed.

Further, the seaweed extract category will have the fastest growth in the coming years. This is because it is a vital component of plant growth hormones (cytokines, gibberellins, and auxins) and elementary metal elements (potassium, manganese, nitrogen, aluminum, and iron). Therefore, it has a significant role in the growth of plants.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/biostimulants-market/report-sample

Highest Revenue Is Produced by Foliar Treatment

The share of the foliar treatment category in 2021 was about 75%. This was a result of the increasing usage of biostimulants in the cultivation of horticultural and field crops, rising number of indoor farms, and the sudden impact of these chemicals, when applied directly on the leaves, on the health of plants.

Moreover, due to their and ease of transportation and application, liquid products account for the larger share. The liquid form of biostimulants also enables leaves to absorb the nutrients more quickly and promotes cellular activity.

Surging Demand for Organic Cereals Drives Row Crops Category

In 2021, the industry was led by the row crops category. This is because row crops, including cotton, corn, wheat, soybeans, and sugar beets, are widely grown across the world, providing companies with numerous growth prospects.

The expansion of this category is also driven by the high requirement for organic cereals, including millets and oats, as well as the adoption of organic farming.

Browse detailed report on Biostimulants Market Size, Share, Growth and Demand Forecast to 2030

Demand for Biostimulants Is Highest in Europe

Europe had a share of over 36% in biostimulant sales revenue in 2021, which is attributed to the growing agronomic product demand and shifting consumer preference toward organic and environment-friendly farming.

Additionally, Italy, France, and Spain together hold a significant share of the European market. This is primarily driven by the high consumption of these items, as well as an increase in their exports.

In the coming years, the APAC region will have the highest CAGR, attributed to the expansion of sustainable farming policies in China and India. Moreover, they already have the most people on earth, which is why the farming community here is under perpetual pressure to up the yield.

Biostimulants Market Report Coverage

By Active Ingredient

Amino acid

Humic Acid
Fulvic Acid

Seaweed Extract
Microbial

By Application Method

Seed Treatment
Soil Treatment
Foliar Treatment

By Crop Type

Turfs and Ornamentals
Fruits and Vegetables
Row Crops

By Form

Liquid
Dry

Regional Analysis

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

Asia-Pacific

China
India
Japan
Australia
South Korea

Latin America

Brazil
Mexico

Middle East and Africa

Saudi Arabia
South Africa

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence