About Biostimulants
The rise in demand for sustainable farming practices, growth in research on cost-effective production processes is driving the Global biostimulant market. Biostimulant act as catalysts to improve the plant quality, quantity, growth and the end yield and enhance the overall crop production and disease resistance. Biostimulant also help in improving microflora, which in turn improves nutrient uptake by plants. They increase antioxidant activity and reduce plant stress against the environment and various diseases. The hormones in plants stimulate growth, root development, and cell enlargement thereby aiding the vigor and overall health of the plant. Biostimulant are emerging as an essential component in sustainable agricultural practices.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.25% |
The global biostimulant market is highly fragmented with many small and medium-sized companies and few big players who are in intense competition in the market. The development done by regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market. Analyst at AMA Research estimates that Europe Vendors will contribute the maximum growth to Global Biostimulants market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), Sapec Group (Spain), Biolchim S.P.A (Italy), Novozymes A/S (Denmark), Platform Specialty Products Corporation (United States), Valagro Group (Italy), Koppert B.V.(Netherlands), Italpollina SAP (Italy), Biostadt India Limited., Arysta Life Sciences (Japan) and ISAGRO Group (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are FMC Corp. (United States), Syngenta (Switzerland) and Biostadt (India).
Segmentation Overview
AMA Research has segmented the market of Global Biostimulants market by Type (Extract-Based Biostimulants, Acid-Based Biostimulants, Seaweed Extracts and Others), Application (Foliar, Soil and Seed) and Region.
On the basis of application, Foliar segment is dominating the market in the year 2023On the basis of geography, the market of Biostimulants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Active Ingredients, the sub-segment i.e. Humic Acid will boost the Biostimulants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Origin, the sub-segment i.e. Natural Biostimulants will boost the Biostimulants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Dry will boost the Biostimulants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Crop Type, the sub-segment i.e. Cereals will boost the Biostimulants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Expansion of organic food industry and rising popularity of organic farming resulting in high demand of biostimulants and Consumer demand for ‘softer’ agriculture practices
Market Growth Drivers:
Growing organic food industry and emphasizing revitalizing degraded soil, Rising awareness among farmers regarding the benefits of biostimulants and Increased adoption of sustainable farming methods.
Challenges:
Climatic conditions affecting the crop productivity will pose a big challenge for the market.
Restraints:
Low awareness about advantages of biostimulants products in the market may slow down the market growth.
Opportunities:
Evolving technologies focusing on water and soil treatment and Focus on increasing soil fertility along with improving productivity of farms and increasing plant tolerance may provide opportunities to the market.
In December 2018, The Agriculture Improvement Act of 2018, also known as the Farm Bill was signed into law, provides the first statutory language about plant biostimulants in any federal law. The is the first law in the United States to recognize the importance of plant biostimulants as an emerging technology for agriculture.
Key Target Audience
Biostimulant and Fertilizer manufacturers, Crop protection product manufactures, Raw material Suppliers, Government, Legislative and Regulatory bodies, Agriculture universities, Biostimulant association and industry bodies, Biostimulant and Fertilizer manufacturers, Crop protection product manufactures, Raw material Suppliers, Government, Legislative and Regulatory bodies, Agriculture universities and Biostimulant association and industry bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.