Plant Bio-Stimulants Market Size, Competitive Landscape and Market Forecast (2022 - 2029)

Market Insights

Agricultural or plant biostimulants are biologically derived fertilizer additives and similar products that are used in crop production to supplement and enhance existing agricultural practices and crop inputs

They might achieve this by helping to improve nutrient-use efficiency, helping plants tolerate abiotic stresses like heat, cold, drought, and too much water and helping to improve quality attributes like nutritional content, appearance, and shelf-life

The global plant biostimulants market valued USD YY.YY million in 2022 and is estimated to reach USD YY.YY million by 2029, growing at a CAGR of12.9% during the forecast period (2022-2029)

 

Driving Factors of Agricultural or plant biostimulants

Agricultural producers are required to identify possible ways to be more efficient and effective in the coming decade. Biostimulants can address this issue in a sustainable manner, by providing protection against stress and thereby stimulating the growth of the plant.

The market for biostimulants is projected to grow in the coming years due to the increasing consumer awareness about the benefits of organic foods, implementation of organic regulations, and adoption of GLOBALGAP (Global Good Agricultural Practices) policies.

The organic food industry, which is growing at a healthy rate, is the major driving force behind the growth of the biostimulant market. Increased awareness among the farmers, especially in the Asia-Pacific region, regarding the benefits of biostimulants is another factor

augmenting the market's growth. The market is also growing due to the increased adoption of sustainable farming methods.

 

Market Segmentation – By Ingredient- Acids

Biostimulants include enzymes, proteins, amino acids, micronutrients, and other compounds. Natural stimulants, such as phenols, salicylic acid, humic and fulvic acids, or protein hydrolases, are frequently referred to as biostimulants. In sustainable horticulture, humic substances are widely used. Humic and fulvic acids alter primary and secondary metabolism in plants. Humic substances promote root growth, nutrient uptake, and crop resistance to environmental stresses.

The increasing use of acids as major ingredient of plant biostimulants and its benefits is expected to drive the market growth. For instance, the beneficial effect of biostimulants based on humic, fulvic, and carboxylic acids on apricot fruit yield has been studied. 

 

Geographical Analysis- North America

The usage of biostimulants is highly promoted in the region, which is mostly opted by chemical fertilizer and pesticides required to sustain its large-scale productions to balance the agricultural sector growth.

The key market drivers identified in North America is the increasing importance of organic farming, the need for enhanced yield, and favorable regulatory structure.

Plant biostimulants are still emerging compounds in North America. The registration for plant biostimulants is done at the state level as a plant or soil amendment. The regulatory structure might not be strict, compared to the pesticide regulations, as biostimulants have diverse natural and biological substances, microorganisms, and plant extracts, which are not harmful.

 

Competitive scenario

Some of the key players in the global plant biostimulants market are Arysta Lifescience Corporation, Micromix Plant Health Limited, Biolchim S.P.A, Biostadt India Limited, Isagro S.p.A., Koppert B.V.,Lallemand Plant Care, Sapec Group (Trade Corporation International), Taminco and Valagro S.p.A.

Key companies have adopted merger and acquisitions policies, product portfolio expansion, and collaborations to help them to gain prominence as strong competitors in the market and expand its production in the global plant biostimulants market.

Many companies have acquired companies to grow through external lines in the biosolutions segments. For instance, on October 14th, 2020, Isagro acquired

Phoenix Del to expand through external lines in the copper-based fungicides and biosolutions segments. This acquisition aims to create more products in the BioSolutions segment.