DUBLIN, Jan. 20, 2023 /PRNewswire/ -- The "Global Biostimulants Market by Active Ingredient (Humic Substances, Amino Acids, Seaweed Extracts, and Microbial Amendments), Mode of Application (Foliar, Soil Treatment, and Seed Treatment), Form (Liquid and Dry), Crop Type and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global biostimulants market is estimated to be valued at USD 3.5 billion in 2022. It is projected to reach USD 6.2 billion by 2027, recording a CAGR of 11.8 % during the forecast period.
Conventional farming has been heavily criticized for causing biodiversity loss, soil erosion, and increased water pollution due to the rampant usage of synthetic fertilizers and pesticides. Organic farming is widely considered a far more sustainable alternative when it comes to food production. The lack of pesticides and a wider variety of plants enhances biodiversity, improves soil quality, and reduces fertilizer or pesticide run-off pollution.
Some major adopters of organic farming include Australia, Argentina, China, and Spain. To produce organic food products, different methods are adopted selection of pest-resistant varieties, suitable rotations, green manure, balanced fertilization, usage of humic-based biostimulants, early planting, mulching, cultural, mechanical & biological control measures, and disturbance in pest life cycles is the basis of pest management programs, which is used in organic farming. Biostimulants find an important usage in organic agriculture revolution.
Key players in the biostimulants market include BASF SE (Germany), UPL (India), Valagro S.p.A (Italy), Gowan Group (US), FMC Corporation (US), ILSA S.p.A (Italy), Rallis India Limited (India), Haifa Group (Israel), Adama Ltd. (Israel), Biovert-Manvert (Spain), Koppert (Netherlands), Trade Corporation International (Spain), and AgriTecno (Spain).
Europe is estimated to account for the largest share in 2021 with a CAGR of 11.5%
According to the European Environment Agency, the agricultural sector occupies a significant share of the land in Europe. Small farms characterize Europe with intensified farming systems and the cultivation of various crops. The strong agricultural sector of the region makes it one of the leading consumers of biostimulants.
The key players in the European biostimulants market include BASF SE (Germany), Valagro S.p.A. (Italy), Biovert S.L (Spain), Koppert Biological Systems (Netherlands), Tradecorp International (Spain), and AgriTecno (Spain). The European markets have a basic or minimal regulatory framework for biostimulant products. Due to this, numerous start-ups are emerging in the market, especially in Spain and Italy. However, according to a primary insight, the region will soon establish a proper regulatory framework to ensure the best products are provided in the markets.
Asia Pacific is projected to witness a growth of 12.5% during the forecast period
The agriculture industry in Asia, particularly in Southeast Asian countries, has witnessed effective transformation due to various technological advancements. This has resulted in the adoption of intensive agricultural practices and has led to a decrease in the soil's nutrient levels. To revitalize the soil, the use of inoculants and biostimulants has been recommended by the agricultural authorities in various countries of Asia. Biostimulants enhance the physiological activities of the seed for early emergence and optimum crop development at later stages under various climatic and agronomic conditions in the region.
Biostimulants are being used to improve the yield and quality of fruits and vegetables
The steady growth of the production of fruits & vegetables is expected to strengthen the demand for biostimulants. In a COVID-19 scenario, agrarian economies, such as India, Bangladesh, and Vietnam, where agriculture accounts for about 12-16% of GDP, have been affected the most. The agricultural commodity markets were stressed by the lag between the trading and physical delivery prices of agricultural produce. To mitigate the risks to agriculture, the governments have launched relief schemes and packages for the benefit of small farmers. With the reopening of many global markets, the sector is rapidly resuming production.
Market Dynamics
Drivers
- Increasing Need for Sustainable Agriculture
- Table 6 Sustainability Investments by Key Agriculture Companies
- Easy Availability of Seaweed as Raw Materials
- Strong Demand for High-Value Crops
Restraints
- Commercialization of Low-Quality Biostimulant Products
Opportunities
- Technological Advancements in the Production of Biostimulants
- Significant Developments in Seed Treatment
Challenges
- Uncertainty in Global Biostimulant Regulatory Framework
Leading players profiled in this report:
- BASF SE (Germany)
- UPL (India)
- Valagro S.p.A (Italy)
- Gowan Group (US)
- FMC Corporation (US)
- ILSA S.p.A (Italy)
- Rallis India Limited (India)
- Haifa Group (Israel)
- Adama Ltd. (Israel)
- Biovert S.L (Spain)
- Koppert Biological Systems (Netherlands)
- Tradecorp International (Spain)
- AgriTecno (Spain)
- Axeb Biotech SL (Spain)
- MAFA Bioscience, S.A. (Spain)
- LawrieCo (Australia)
- Devi Cropscience (India)
- Bioflora(US)
- AgriCen (US)
- Omnia Specialties Pty (Australia)
- Kelp Products International (South Africa)
- Afrikelp (South Africa)
- AminoCore (Germany)
- Aphea.Bio (Belgium)
- South Agro (Italy)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Biostimulants Market, by Active Ingredient
7.1 Introduction
7.2 Humic Substances
7.3 Seaweed Extracts
7.4 Amino Acids
7.5 Microbial Amendments
7.6 Other Active Ingredients
8 Biostimulants Market, by Mode of Application
8.1 Introduction
8.2 Seed Treatment
8.3 Soil Treatment
8.4 Foliar Spray
9 Biostimulants Market, by Formulation
9.1 Introduction
9.2 Liquid
9.3 Dry
10 Biostimulants Market, by Crop Type
10.1 Introduction
10.2 Cereals & Grains
10.3 Oilseeds & Pulses
10.4 Fruits & Vegetables
11 Biostimulants Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent & Related Markets
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/o4gy1o
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