Biostimulants Market Size to Reach USD 6.75 Billion in 2028, Says Reports and Data
Adoption of Sustainable Farming and Growing Consumer Preference for Organic Products Are Influencing Growth of the Biostimulants Market
The global biostimulants market size is expected to reach USD 6.75 billion in 2028 and register a CAGR of 11.3%, according to the latest report by Reports and Data. Key factors, such as growing demand for eco-friendly agro-products and rising consciousness among consumers about chemical-based pesticides around the globe, are fueling market revenue growth.
Biostimulants are an effective alternative for chemical-based products and are applied to plants and crops to enhance nutrient content, crop quality, and resistance toward extreme conditions such as droughts, floods, and salinity. Biostimulants have gained traction in recent years owing to their essential role in sustainable agriculture processes. Growing adoption of organic and precision farming coupled with increasing demand for organic food are boosting growth of the biostimulants market. Additionally, increasing investments by key participants in research and development activities for developing more effective and advanced products to expand their product line are expected to boost revenue growth throughout the forecast period.
However, lack of awareness and knowledge about benefits and usage of biostimulants among various farmers in developing economies is expected to hamper growth of the biostimulants market to a certain extent during the forecast period.
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Some key highlights in the report:
- Based on crop type, the fruits & vegetables segment is expected to account for high revenue share during the forecast period owing to increasing demand for fresh fruits and farm vegetables and better shell life.
- On the basis of active ingredient outlook, the amino acid segment revenue is expected to expand at fastest CAGR over the forecast period.
- In context to source, the natural segment is expected to register a robust revenue CAGR during the forecast period owing to factors, such as high yield, cost-efficiency, and better soil fertility in comparison to synthetic biostimulants.
- On the basis of form, the dry segment is expected to account for significantly high CAGR throughout the forecast period owing to factors such as easy handling and better shelf life.
- In context to application, the foliar treatment dominated other application segments in 2020 and is expected to account for largest revenue share during the forecast period. Foliar sprays are applied on various high-value crops as they are easy to apply in comparison to other methods.
- North America is expected to register a substantially high CAGR of 11.8% throughout the forecast period owing to increasing demand for organic food and growing implementation of precision farming along with stringent regulations for agrochemical approvals.
- Asia Pacific is expected to expand at fastest revenue CAGR during the forecast period owing to adoption of organic farming and continuous demand for organic food due to lifestyle changes and vast population.
- Key companies in the biostimulants market are BASF (Germany), Isagro (Italy), Valagro (Italy), Bayer (Germany), Italpollina (Italy), Koppert Biological Systems (Netherlands), Acadian Seaplants (Canada), UPL (India), and Biolchim (Italy).
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For this study, Reports and Data has segmented the global biostimulants market based on Source, Active Ingredient, Crop Type, Form, Application Method, and Region:
Based On Source: (Revenue, USD Billion, 2018 - 2028)
Based On Active Ingredient (Revenue, USD Billion, 2018 - 2028)
- Humic Substances
- Humic Acid
- Fulvic Acid
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Trace minerals
Based On Crop Type (Revenue, USD Billion, 2018 - 2028)
- Cereals & Grains
- Fruits & Vegetables
- Turf & Ornamentals
- Oilseeds & Pulses
- Plantation Crops
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Based On Application Method: (Revenue, USD Billion, 2018 - 2028)
- Foliar Treatment
- Soil Treatment
- Seed Treatment
Based On Form: (Revenue, USD Billion, 2018 - 2028)
Based On Region (Revenue, USD Billion, 2018 - 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Explore Reports and Data's Prime Analysis of the global Pharmaceutical & Healthcare Industry:
Agricultural Biostimulants Market Analysis By Type (Acid-based, Extract-based, Others), By Application (Soil, Foliar, Seed and Others) And Segment Forecasts, 2017-2026
Humic-based Biostimulants Market Size, Trends & Analysis, By Type (Humic Acid, Fulvic Acid, Potassium Humate), By Formulation (Powder, Granules, Liquid), By Application (Foliar Treatment, Seed Treatment, Soil Treatment), Region And Forecast To 2027
Agricultural Biologicals Market Size, Share & Analysis, By Function (Biocontrol, Biofertilizers, Biostimulants), By Product Type (Microbials, Macrobials, Semiochemicals, Natural), By Mode of Application (Foliar Spray, Soil and Seed Treatment), By Crop Type (Cereals & Grains, Fruits & Vegetables, and Oilseeds & Pulses), and By Region Forecast To 2028
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