- Humic substances
- Humic acid
- Fulvic acid
- Seaweed extracts
- Microbial amendments
- Amino acids
Biostimulants Market size was valued at USD 3,274.6 billion in 2022 and is poised to grow at a significant CAGR of 12.1% over 2023-2029. In terms of supporting organic practices, biostimulants are critical for the agriculture industry's future. Biostimulants can improve soil microflora, making nutrient uptake more efficient. Others strengthen internal defense against environmental challenges and disease pressure by increasing antioxidant activity in plants. Biostimulants are commonly linked with organic farming and gardening, but they also make headway in conventional agriculture. These are increasingly seen as a response to consumer desire for "kinder" farming techniques. The organic food sector is growing at a double-digit exponential rate in response to the growing need for food security and the need of safe farming practices. Manufacturers can develop new products in the biostimulant and plant growth promotor areas due to technological advancements in the biostimulant industry. Using biostimulant as plant growth promoters is gaining traction in the agricultural business. Biostimulants were formerly reserved for high-value crops like ornamentals and plantation crops and vegetables and fruit crops. They now play an essential role in conventional food crops like corn, wheat, and rice, where they are employed as a supplement to fertilizers to stimulate the crop's nutrient uptake process. As a result, prominent firms such as UPL (India) and Valagro S.p.A. are developing various novel sources (Italy). Chemical preservatives and genetically modified elements in inorganic food are causing detrimental health impacts on a growing number of health-conscious consumers throughout the world. Furthermore, industry expansion will be fueled by a focus on increasing soil fertility as well as the need to improve farm production. Furthermore, essential benefits such as improved plant tolerance and recovery from abiotic stresses such as harsh climatic conditions, droughts, adverse salinity, and floods would boost the overall market value of biostimulants. Also, acid-based biostimulants have acquired popularity as a result of their widespread use, which has improved crop quality. The widespread use is projected to propel the global biostimulant industry to new heights.
Fastest Growing Market
In the coming decade, agricultural producers must develop strategies to become more efficient and successful. Biostimulants can help to solve this problem in a long-term way by providing stress resistance and so encouraging plant development. The market for biostimulants is expected to develop in the next years as consumers become more aware of the benefits of organic foods, organic rules are implemented, and GLOBALGAP (Global Good Agricultural Practices) policies are implemented. The proliferation of low-quality items is due to a lack of openness in patent protection regulations in many countries. These restraints the biostimulants market.
2023 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.