Global Biostimulant Market Overview
The key driver impacting the Biostimulant market is the growing focus on enhancing productivity due to the mounting demand for food from the expanding global population. For instance, According to the World Population datasheet, the global population is expected to reach 9.9 billion by 2050, a boost of more than 25% from the present 2020 population of 7.8 billion. Food demand is probable to augment approximately 59% to 98% by 2050.The Food and agriculture organization (FAO) report, estimations represents that agricultural production would require to grow globally by 70% and more particularly by almost 100% in developing countries till 2050 to feed the growing population. Moreover, seaweeds' easier availability as raw materials and growing demand for high-value crops contribute to market growth. Whereas with regards to volume,the market was calculated XX Thousand Hectares in 2020 and foreseen to grow with a CAGR of XX% during 2020-2027.
According to Value Market Research, the global Biostimulant market size was valued at around USD 2000 million in 2020 and is estimated to grow at a CAGR of about 10.2% during the forecast period 2021 to 2027.
The rapid soil degradation creates the need for sustainable agriculture to augment Biostimulant demand in the forecast period. For instance, According to the Global agriculture organization globally, around 10 - 20% of drylands and 24% of the world’s productive lands are degraded and severely degraded the soil fertility. The European Union alone loses 970 million tonnes of soil per year due to water erosion. Scientists warned that over 24 billion tons of fertile soil get lost annually, primarily due to unsustainable agriculture practices. If this trend continues, 95 percent of the Earth’s land areas could become degraded by 2050. The soil erosion can lead to a 50 percent loss in crop yields as per the global environment facility (GEF) report. However, the commercialization of low-quality Biostimulant products may hamper the global Biostimulant market in the long run. Also, the rising prevalence of uncertain regulatory frameworks of Biostimulant globally is negatively impacting the market. The current industry trends, such as the strengthening product portfolio for broad-acre crops and technological advancements for Biostimulant production, are expected to provide market players with new market opportunities.
The Biostimulant market is vast, with many local and global players. The Biostimulant market is extensive, with many local and international players. The key leaders follow different strategies to advance their market position, such as amalgamation, contracts, extending product portfolio, product upgrades, and acquisitions, to augment their market share across the globe. For instance, In February 2019, UPL (India) had acquired a part of Platform Specialty Products Corporation named Arysta LifeScience Corporation of U.S. The acquisition facilitates the company to widen its footprint in the biologicals market and extend its geographical presence. The significant players studied in the report are Isagro Group, BASF SE, Biolchim S.P.A, Novozymes A/S, Platform Specialty Products Corporation, Valagro Group, Koppert B.V., Italpollina SAP, and Biostadt India Limited.
In this research report, the Biostimulant market is segmented by active ingredients, product, crop type, and region.
Analysis by Active Ingredients:
By active ingredients, the report is segmented into acid-based, seaweed extracts, microbial, and others. The acid-based Biostimulant dominate the active ingredients segment with a 40% share in 2020. The acid-based segment comprises fulvic, humic, and amino acids. The growing usage of amino acids as they are the significant originators of phytohormones helps activate the metabolic systems of seed and plant germination. Moreover, it stimulates fruit setting, flowering, pollination, and fruit development in the plant, thus creating more demands for active ingredients in the forecast period.
Analysis by Crop Type:
By crop type, the report is segmented into row crops & cereals, fruits & vegetables, turf & ornamentals, and others. The row crops and cereals dominate the crop type segment with a 30% share in 2020. It is because row crops and cereals are grown extensively globally in large areas due to rising demand for organic cereals, thus providing substantial growth opportunities for the Biostimulant industry. Moreover, the growing adoption of Biostimulant to cultivate row crops and cereals drives demands for the row crops & cereals segment in the forecast period.
Analysis by Application:
By application, the report is categorized into foliar, seed, and soil. The foliar application technique segment dominates the application segment with a 50% share in 2020. The Biostimulant supported for foliar treatment are mainly marketed in liquid form to facilitate more accessible application. The growing usage of glycine betaine, chelated nutrients, and IPA molecule as primary active ingredients utilized in these products for foliar application. Moreover, the treatment enables faster absorption of nutrients by leaves, improves nutrient uptake, and boosts cellular activity, contributing to the foliar application segment's growth in the forecast period.
Analysis by Region:
In the regional outlook of the global Biostimulant market, the European region dominates with over 20% market share during the forecast period. It is due to the presence of favorable regulations to improve organic food production that is estimated to increase the application of Biostimulant. Moreover, the growing usage of Biostimulant on ornamentals plants, citrus fruits, and turf in Spain with high adoption of Biostimulant for conventional and organic farms market contributes to the growth of the market across Europe.
Market Segmentation covered in the Report:
By Active Ingredients:
By Crop Type
- Acid Based
- Seaweed Extracts
- Row Crops & Cereals
- Fruits & Vegetables
- Turf & Ornamentals
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.