North America Biostimulants Market Report and Forecast 2024-2032

North America Biostimulants Market Outlook

The North America biostimulants market size reached USD 1.22 billion in 2023. The market is expected to grow at a CAGR of 9.4% between 2024 and 2032, reaching almost USD 2.75 billion by 2032.

Key Takeaways

• As per industry reports, in North America, organic crop cultivation covered 1.5 million hectares in 2021, marking a 13.5% increase from 2017 to 2022, with the United States leading at 623.0 thousand hectares.

• Key organic farming states include California, Maine, and New York. Mexico ranks second with 531.1 thousand hectares, recognised globally for organic coffee exports, notably from regions like Chiapas and Oaxaca.

• Efforts by organisations like the National Association for Organic Agriculture, along with government support, aim to boost organic farming in Mexico through financial aid and research initiatives.

The North America biostimulants market is expected to witness growth driven by factors like the shift towards sustainable agriculture and increasing demand for eco-friendly products enhancing crop yield and quality. Protein hydrolysates, known for improving crop performance under adverse conditions, dominate the market. Humic acid also shows promise in boosting crop yield, especially in greenhouses and growth chambers.

Amino acids like L-proline and L-Glycine are common biostimulants enhancing various plant processes. As demand for organic farming rises, biostimulants are expected to play a vital role. In the United States, with its advanced agricultural sector, there's a growing preference for biostimulants due to their ability to enhance crop performance while addressing concerns about the environmental impacts of chemical used in the farming process.

As per the North America biostimulants market analysis, the industry is notably witnessing the focus of key players on product quality and expansion to meet growing demand, offering high-value, eco-friendly solutions. However, challenges like government restrictions on raw material trade may arise. Biostimulants also hold potential in forestry and agriculture to enhance root and shoot growth, crucial for food security and public health. Initiatives globally aim to inform farmers about bio-based agricultural solutions' advantages amidst shrinking farmland and rising population.

The demand for high-value crops is increasing due to rising incomes, urbanisation, and health awareness, driving foreign direct investment in agriculture. Biostimulants find significant use in permanent croplands, especially in high-value crops like fibre crops and plantation crops, where they improve crop quality and yield.

Market Segmentation

North America Biostimulants Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Crop Type

• Row Crops

• Fruits and Vegetables

• Turf and Ornamentals

• Others

Market Breakup by Form

• Liquid

• Dry

Market Breakup by Active Ingredient

• Seaweed Extracts

• Humic Acids

• Amino Acids

• Microbial Amendments

• Others

Market Breakup by Application

• Foliar Treatment

• Soil Treatment

• Seed Treatment

Market Breakup by Country

• United States of America

• Canada

Competitive Landscape

Biostimulants is an emerging market, thus companies are developing a wide range of innovative products to stay ahead in the market.

• FMC Corporation

• Corteva Agriscience

• UPL Ltd.

• Syngenta Crop Protection AG

• Novozymes A/S

• Haifa Negev technologies Ltd.

• Agrinos

• Hello Nature USA Inc.,

• Humic Growth Solutions Inc.

• Sigma AgriScience, LLC

• Others

Key Highlights of the Report