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Biostimulants Global Market Report 2023: Sector to Reach $4.6 Billion by 2030 at a CAGR of 7.4%
Global Biostimulants Market
Dublin, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The "Biostimulants Market Size, Share & Trends Analysis Report By Active Ingredients (Acid Based, Microbial), By Crop Type, By Application (Foliar, Soil Treatment), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global biostimulants market size is expected to reach USD 4.6 billion by 2030. The market is expected to expand at a CAGR of 7.4% from 2023 to 2030.
Companies Mentioned
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
This is attributable to surging consumption of the product in several end-use applications such as foliar, seed, and soil treatment. Foliar treatment held the largest market share in the global market on account of its vast adoption across the agricultural sector. The treatment is highly performance efficient on account of the direct application of the product onto the leaves of the plant.
The application procedure is highly labor-intensive but also leads to the minimal wastage of biostimulant. Its extensive benefits over other application techniques have resulted in augmented demand for the product.
Synthetic fertilizer is presently used in large amounts in most regions for soil amendment. However, the growing focus on providing environmental sustainability, improving the soil, and crop yield as well as enhancing the overall productivity has caused a shift toward biobased solutions such as biostimulants. This is expected to have a positive impact on the market in the near future.
The organic food sector has witnessed significant growth over the past few years owing to the rising health concerns among consumers. Organic food contains all the necessary nutrients and does not contain unnecessary toxins that are harmful to human health.
The growing demand for organic food has contributed to the adoption of bio-based products by food & beverage producers in the U.S. According to the U.S. Department of Agriculture, organic food sales account for around 4% of the total U.S. food sales.
According to The Food and Agriculture Organization of the United Nations, organic farming is practiced in around 187 countries and as of 2021, 72.3 million hectares of agricultural land was managed organically by around 3.1 million farmers.
Biostimulants Market Report Highlights
The seaweed extract biostimulants segment has a strong hold in the market with a highest growth rate of 8.1% over the forecast period. This growth is attributable to the presence of plant growth chemicals such as auxins, cytokinins, gibberellins carbohydrates, and various other nutritive metal elements such as aluminum, potassium, iron, nitrogen, and potassium
The row crops and cereals segment is growing significantly with a CAGR of 7.1% as they are highly lucrative, and are grown widely across the globe and include millets, corn, and barley
The seed treatment application segment is estimated to grow at highest rate of 8.6% in terms of revenue over the forecast period owing to its cost effectiveness as compared to other types of conventional techniques
Asia Pacific region is expected to witness the fastest growth rate of 9.6% in terms of revenue, from 2023 to 2030. This is attributable due to favorable government policies in agricultural sector to promote the use of biobased products and attract investments in the industry have created a wide scope for the growth of product demand in the region
The global market is fragmented in nature and consists of many small and medium-sized market players coupled with a few big players. The players face stiff competition from local players operating in developing regional markets. Europe is a major market for biostimulants industry
Report Metrics:
Report Attribute | Details |
No. of Pages | 150 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $2.8 Billion |
Forecasted Market Value (USD) by 2030 | $4.6 Billion |
Compound Annual Growth Rate | 7.4% |
Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Biostimulants Market Variables, Trends, and Scope
3.1 Market segmentation and scope
3.2 Years considered in the study
3.3 Penetration and growth prospect mapping
3.4 Raw material market scenario
3.4.1 Seaweed extracts
3.4.2 Amino acids
3.4.3 Fulvic acids
3.5 Value chain analysis
3.6 Regulatory framework
3.6.1 Austrian fertilizers law (DuMV 2004 - Dungemittelverordnung 2004)
3.6.2 EU regulation 1107/2009
3.6.3 Statutory Instrument 248/1978
3.6.4 Regulation 2006 No 2468 and Fertilizer Regulation 1991 No 2197
3.7 Biostimulants Market dynamics
3.7.1 Market driver analysis
3.7.1.1 Rising focus to enhance productivity from sustainable agricultural practices
3.7.1.2 Soil degradation leading to declining productivity
3.7.2 Market restraint analysis
3.7.2.1 Lack of awareness among the farmers
3.8 Biostimulants Market - Porter's analysis
3.9 Biostimulants Market- PESTEL analysis
Chapter 4 Biostimulants Market: Active Ingredients Estimates & Trend Analysis
4.1 Active ingredients movement analysis & market share, 2022 & 2030
4.2 Acid Based
4.2.1 Acid-Based Biostimulants Market size & forecasts and trend analysis, 2018-2030, (Million Hectare) (USD Million)
4.3 Seaweed extract
4.3.1 Seaweed Extract Biostimulants Market size & forecasts and trend analysis, 2018-2030, (Million Hectare) (USD Million)
4.4 Microbial
4.4.1 Microbial Biostimulants Market size & forecasts and trend analysis, 2018-2030, (Million Hectare) (USD Million)
4.5 Others
4.5.1 Other Biostimulants Market size & forecasts and trend analysis, 2018-2030, (Million Hectare) (USD Million)
Chapter 5 Biostimulants Market: Crop Type Estimates & Trend Analysis
5.1 Crop type movement analysis & market share, 2022 & 2030
5.2 Row Crops & Cereals
5.2.1 Biostimulants Market size & forecasts and trend analysis, by row crops & cereals 2018-2030, (Million Hectare) (USD Million)
5.3 Fruits & Vegetables
5.3.1 Biostimulants Market size & forecasts and trend analysis, by fruits & vegetables 2018-2030, (Million Hectare) (USD Million)
5.4 Turf and Ornamentals
5.4.1 Biostimulants Market size & forecasts and trend analysis, by turf and ornamentals 2018-2030, (Million Hectare) (USD Million)
5.5 Others
5.5.1 Biostimulants Market size & forecasts and trend analysis, by other crop types 2018-2030, (Million Hectare) (USD Million)
Chapter 6 Biostimulants Market: Application Estimates & Trend Analysis
6.1 Application movement analysis & market share, 2022 & 2030
6.2 Foliar Treatment
6.2.1 Biostimulants Market size & forecasts and trend analysis, in Foliar Treatment application, 2018-2030, (Million Hectare) (USD Million)
6.3 Soil Treatment
6.3.1 Biostimulants Market size & forecasts and trend analysis, in Soil Treatment application, 2018-2030, (Million Hectare) (USD Million)
6.4 Seed Treatment
6.4.1 Biostimulants Market size & forecasts and trend analysis, in Seed Treatment application, 2018-2030, (Million Hectare) (USD Million)
Chapter 7 Biostimulants Market: Regional Estimates & Trend Analysis
Chapter 8 Competitive Landscape
8.1 Vendor landscape
8.2 Competitive environment
8.3 Company market positioning
8.4 Strategy framework
Chapter 9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/k65tc5
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