Global Biostimulants Market was valued US$ 1.90 Bn in 2018 and is estimated to reach US$ 4.30 Bn by 2026 at a CAGR of about 10.75% during a forecast period.
The report segment of the biostimulants market based on the active ingredient, crop type, application, form, and region. In terms of the active ingredient, the biostimulants market is divided into acid-based, seaweed extract, microbial, others. Based on crop type, the biostimulants market is classified into row crops & cereals, fruits & vegetables, turf & ornamentals, others. On the basis of application, the biostimulants market is categorized into foliar, soil, seed. Based on form, the biostimulants market is segmented into dry, liquid. Region-wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Biostimulants are an effective substitute to chemical-based agro products and are replacing these at a higher rate on account of their environment-friendly nature and performance efficiency.
Biostimulants help in developing microflora, which, in turn, improves nutrient uptake by plants. They rise antioxidant activity and reduce plant stress against the environment and various diseases. However, lack of education and awareness among farmers, and the number of challenges faced by new entrants and small players restraints the growth of biostimulants market. Also, unavailability of the standardized regulatory framework for biostimulants and scientific & technical challenges for improvement of biostimulants challenges the growth of this market to some extent.
Global Biostimulants market is segmented into the active ingredient, crop type, application, form, and region. In terms of the active ingredient, Acid-based biostimulants formed the largest active ingredient segment in 2017. Products based on fulvic, humic, and amino acids are contained in the acid-based segment. Seaweed extracts are expected to register the fastest growth rate over the forecast period. These are primarily used as biostimulants owing to the presence of plant growth substances such as cytokinins, auxins, and gibberellins carbohydrates.
Based on crop type, Row crops and cereals lead the overall biostimulants market based on crop type. Biostimulants rise the rate of cell division, seed size, and yields for row crops such as soybeans, corn, and barley. Global agriculture professionals are growingly adopting biostimulants for the cultivation of row crops and cereals. Moreover, the growing demand for organic cereals is expected to further boost this segment.
On the basis of application, foliar application dominated the market in 2018 and is expected to maintain this trend during the forecast period. Seed application is among the most cost-effective applications as compared to conventional spraying techniques. The application is performance-efficient as well as not as labour-intensive as other methods.
In terms of region, Europe dominates the global biostimulants market. Supportive regulations to increase the production of organic foods are anticipated to increase the application of biostimulants. The Asia Pacific is expected to witness promising growth over the forecast period on account of the presence of various agriculture-driven economies such as India, China, and Australia.
Some of the key players in the biostimulants market are BASF SE, Novozymes A/S, Isagro Group, Sapec Group, Biolchim S.P.A, Platform Specialty Products Corporation, Valagro Group, Koppert B.V., Italpollina SAP, and Biostadt India Limited.
Scope of Global Biostimulants Market
Global Biostimulants Market, by Active Ingredient
• Seaweed Extract
Global Biostimulants Market, by Crop Type
• Row Crops & Cereals
• Fruits & Vegetables
• Turf & Ornamentals
Global Biostimulants Market, by Application
Global Biostimulants Market, by Form
Global Biostimulants Market, by Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in Global Biostimulants Market
• BASF SE
• Novozymes A/S
• Isagro Group
• Sapec Group
• Biochim S.P.A
• Platform Specialty Products Corporation
• Valagro Group
• Koppert B.V.
• Italpollina SAP
• Biostadt India Limited
• BioAg Alliance
• FMC Corporation
• Agriculture Solutions Inc.
• Premier Tech Ltd.
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