Global Biostimulants Market Report and Forecast 2024-2032

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Rising Utilisation of Microbial Biostimulants to Propel the Market Growth

Based on the source, the microbial segment is witnessing a steady market growth. The microbial biostimulants are increasingly used by plant growers to obtain agricultural yield with high nutritional value and overcome negative impacts on crops due to environmental changes, which is invigorating the biostimulants market expansion. It can be applied to ameliorate abiotic stress due to climate change. The microbial biostimulants play a critical role in enhancing fruit quality and reducing soil degradation.

In addition, the use of microbial biostimulants leads to a reduced dependency on pesticides, thereby preventing the risk of over fertilisation. The environmentally friendly nature of microbial biostimulants is leading to the rising inclination of plant growers towards the same. The development of biostimulants with new microbial organisms that are safe for both the environment and the consumers is likely to aid the market.
 

Global Biostimulants Market Segmentation

A biostimulant is a new product composed of substances that are added to crops in order to enhance their nutrition and plant quality traits, reduce abiotic stress, and create more sustainable agriculture systems. It reduces the need for fertilisers and allows high yields with good quality products. The raw materials used in biostimulant production are humic acids and algae extracts, among others.

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The biostimulants market, by active ingredients, is divided into:

• Seaweed Extracts

• Humic Substances

• Microbial Amendments

• Vitamins and Amino Acids

• Others

Based on crop, the market is segmented into:

• Row Crops

• Fruits and Vegetables

• Turf and Ornamentals

• Others

On the basis of source, the market is bifurcated into:

• Microbial

• Non-microbial

Based on application, the market is classified into:

• Foliar Treatment

• Seed Treatment

• Soil Treatment

The regional markets for biostimulants can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Emerging Need for Food Security to Drive the Biostimulants Market Growth

The need to reduce crop losses and boost agricultural productivity to meet the food demands of a growing population is contributing to the market expansion of biostimulants. The rising global warming and the necessity to increase plant resilience towards climate-induced stresses also play a critical role in propelling the market growth.

The rising environmental concerns over the use of chemicals in the agricultural sector are leading to the market growth of biostimulants. The decreasing arable land due to erosion and the loss of natural ecosystems are resulting in the growing demand for biostimulants among plant growers, which is significantly catalysing the biostimulants market development.

The government initiatives towards promoting organic farming to achieve environmental sustainability and security are fuelling the market growth of biostimulants. For instance, in 2023, the European Commission called for European agri-food promotion programmes in the EU and abroad to promote organic products, fruits and vegetables, and sustainable agriculture that support the European Green Deal objectives.  Additionally, the strong foothold of market players, the new product launches, and the increasing research activities are expected to augment the market for biostimulants.

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Key Players in the Global Biostimulants Market 

The report offers an in-depth analysis of the following key players in the market, covering the competitive landscape and latest developments like new investments, mergers and acquisitions, and plant turnarounds:

• Valagro S.p.A

• BASF SE

• Isagro S.p.A.

• Biostadt India Limited

• Biochimica S.p.A

• Others

The comprehensive EMR report provides an extensive assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report