Press Release

Biostimulants Market to Grow with a CAGR of 9.68% through 2028

Expanding use of biostimulants in seed treatment and rising costs of synthetic agrochemicals is expected to drive the Global Bio stimulants Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Bio stimulants Market– Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Bio stimulants Market stood at USD 3.11 Billion in 2022 and is anticipated to grow with a CAGR of 9.68% in the forecast period, 2024-2028. The global Bio stimulants Market is driven by a variety of factors that contribute to its growth. The increasing awareness of harmful effects caused by synthetic agrochemicals is prompting farmers to turn to organic and eco-friendly alternatives like biostimulants.  The pressure of feeding a growing global population is pushing the demand for high-yield crops, which is further driving the Bio stimulants Market. Other motivators include the emphasis on sustainable farming practices, innovations in plant biotechnology, and government regulations promoting the use of bio stimulants.

The global Bio stimulants Marketis on the verge of significant and exponential growth in the coming years. This growth can be primarily attributed to the escalating consumer demand for organic food products and the increasing adoption of sustainable farming practices worldwide. Biostimulants, as a vital component, play a pivotal role in augmenting plant growth and development across the entire crop life cycle, commencing from seed germination and persisting until plant maturity. By providing essential nutrients, stimulating root development, and enhancing nutrient uptake, biostimulants contribute to improved plant vigor, stress tolerance, and overall crop performance. They also promote the synthesis of phytohormones, enzymes, and antioxidants, which further enhance plant resilience, productivity, and quality. Furthermore, biostimulants foster beneficial microbial activity in the rhizosphere, leading to enhanced nutrient availability, soil health, and biodiversity.

Moreover, the market is further propelled by the mounting environmental awareness among consumers and the pressing need to ameliorate soil fertility and reduce the environmental footprint of agriculture. As more individuals recognize the paramount importance of sustainable agriculture and the preservation of natural resources, the demand for biostimulants is poised to witness a substantial upsurge, with an increased focus on ecological balance and long-term sustainability. In addition to these factors, technological advancements in biostimulant formulations and application methods are driving market growth. Continuous research and development efforts are resulting in the introduction of innovative biostimulant products that offer enhanced efficacy, targeted nutrient delivery, and improved compatibility with existing agricultural practices. This has opened up new avenues for farmers and growers to optimize crop production while minimizing environmental impact.


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Furthermore, regulatory frameworks and government initiatives promoting sustainable agriculture and organic farming are creating a favorable environment for the growth of the Bio stimulants Market. Stringent regulations on chemical inputs and the need for sustainable alternatives have increased the demand for biostimulants as a safe and effective solution for plant nutrition and crop management. Overall, the future of the global Bio stimulants Marketlooks promising, with a convergence of factors driving its growth. As the world embraces sustainable practices and the demand for organic food continues to rise, biostimulants are expected to play a crucial role in meeting the challenges of global food security and environmental sustainability. The Global Bio stimulants Marketis segmented into active ingredient crop type, application, regional distribution, and company.

Based on application, in the global Bio stimulants Market, foliar application has emerged as the dominant method due to its exceptional efficiency and effectiveness. This method takes advantage of the plants' ability to absorb nutrients directly through their leaves, resulting in faster and more noticeable results compared to other methods like soil application. Moreover, foliar application offers the advantage of precise nutrient management, minimizing waste and ensuring that plants receive the exact dosage they require for optimal growth and development. This precision also allows for targeted nutrient delivery, enhancing the overall health and productivity of plants. Additionally, the cost-effectiveness and ease of administration of foliar application have contributed to its widespread adoption in the global Bio stimulants Market, making it a preferred choice for growers seeking sustainable and high-yielding agricultural practices. 

Based on region, North America is set to assert its dominance in the global biostimulant market due to a confluence of multiple factors. The region's agricultural practices have reached advanced levels, incorporating cutting-edge technologies and precision farming techniques. This, coupled with a growing awareness among farmers about the myriad benefits of biostimulants, has paved the way for their widespread adoption. Furthermore, stringent environmental regulations aimed at reducing the ecological footprint of agriculture have played a pivotal role in encouraging the shift towards eco-friendly alternatives, such as biostimulants, as substitutes for traditional chemical fertilizers. The presence of major market players, including renowned industry leaders and innovative startups, within the region has propelled the growth trajectory of the biostimulant market, fostering a fertile ground for research, development, and commercialization of novel biostimulant products. With favorable market conditions and a commitment to sustainable agriculture, North America is poised to lead the way in shaping the future of the biostimulant industry.

 

Major companies operating in Global Bio stimulants Market are:

  • BASF SE
  • Isagro Group
  • Sapec Agro S.A.
  • Biolchim S.P.A.
  • Novozymes A/S
  • Platform Specialty Products Corporation
  • Valagro SpA
  • Koppert B.V.
  • Italpollina SAP
  • Biostadt India Limited

 

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“The future of the Global Bio stimulants Market is poised to be promising, with robust growth projections driven by escalating global food demand, burgeoning population, and the looming impacts of climate change. As the world grapples with feeding an ever-expanding population on less arable land, the focus is shifting towards sustainable agriculture. Herein, biostimulants emerge as a viable solution, offering enhanced crop yield and quality without the detrimental environmental impacts associated with chemical fertilizers. The global trend towards organic farming further fuels the market for biostimulants. These natural additives, derived from various organic substances, are integral to augmenting the health and productivity of soil, thereby leading to sustainable crop production. The eco-friendly nature and cost-effectiveness of biostimulants have made them a preferred choice amongst farmers and agriculturalists worldwide, with a trend of displacement of traditional chemical fertilizers. Government policies are also playing a critical role in propelling biostimulant adoption. Governments around the world are encouraging the use of eco-friendly agricultural practices, providing financial incentives and establishing regulatory frameworks that favor the use of biostimulants. As a result, the biostimulant market is set to experience substantial growth, contributing to a more sustainable and resilient global food system.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Bio stimulants Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Active Ingredient (Acid Based, Seaweed Extract, and Microbial), By Crop Type (Row Crops and Cereals), By Application (Foliar and Soil), By Region and Competition”, has evaluated the future growth potential of Global Bio stimulants Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Bio stimulants Market.


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