Biostimulants are biologically produced fertilizers that are used to stimulate plant development and productivity, in addition to the nourishment of agricultural products. A biostimulant boosts plant development and growth throughout the crop life cycle, from seed germination to plant maturity. These fertilizers further help in facilitating nutrient translocation, assimilation, and use; and enhance soil fertility mainly by stimulating the development of interdependent soil microorganisms. During COVID 19, the supply and demand were hit, which led to reduced demand for products in the market. Closure of production facilities and a drop in the demand for the products have hindered the market growth. Biostimulants Market Size is anticipated to reach USD 6.65 billion by 2030, registering a CAGR of 10.10% during 2022-2030.
The sector also faced acute labor shortages due to recurrent lockdowns that disrupted manufacturing and trade operations. The vaccination drive and lockdown practices to limit the spread of the virus worldwide will increase the market growth. Fertilizers facilitate nutrient translocation assimilation and usage and enhance soil fertility by stimulating the development of interdependent soil microorganisms. Several raw materials were required to develop biostimulants, but the strict travel restriction in the initial time of the pandemic made them difficult to transport. The increasing production of organic foods without good fertilizers with the hazardous effects of synthetic fertilizers and pesticides could increase the Biostimulants Market. Increasing agricultural emissions promotes the Government to increase the agricultural production of high-quality products, emitting pollution and driving the market.
The Biostimulants Market size is segmented into different segments. The major segments of the market are active ingredients, crop type, and application method. The market is divided into vegetables and fruits, grains and cereals, ornamental plants and herbs, legumes and oilseeds, and other crops based on the crop type. Among them, the vegetable and fruit segment will register the highest CAGR in the market due to the high production of vegetables and fruits worldwide. By the distribution channel, the market is categorized into direct and indirect. The direct segment will register high growth between them as its demand is high from related industries. The sub-segments of the active ingredients are microbial additives, B vitamins, acid, protein hydrolysates, extract, and others. Acid-based will dominate the market as this is the main component that increases the plants' function and provides metabolic activity to them. The end0user of the market bifurcated into research institutes, farmers, and related industries.
The Biostimulants Market overview analyzed are north America, Europe, Asia Pacific, South America, and the Middle East and Africa. Europe is dominating the market due to the regulatory framework and the presence of many manufacturers, increasing the market growth in the forecast period. It is required for plants as they provide many advantages such as soil fertility, high crop productivity, and others.
Agro Inputs Manufacturers Association of India (AIM) has welcomed the inclusion of biostimulants in the Fertiliser Control Order but demanded that the Government allow MSMEs to submit pooled data collected by the association for the registration process and enable them to carry on their business.
- Koppet B.V. (Netherland)
- Agriculture Solutions Inc. (Canada)
- China Daily Co. Ltd. (China)
- Eastman Chemical Company (US)
- BASF SE(Germany)
- Agrinos AS (US)
- Arysta Lifescience Corporation (India)
- Valagro SpA (Italy)
- Acadian Seaplants Ltd. (India)
- FMC Corporation (US)
- Bayer A G (Germany)
- Koppert Biological Systems (Netherland)
- Isagro SpA (Italy)
- Biolchim SpA (Italy)
- Italpollina SpA (Italy)
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