The global biostimulants market size was valued at USD 2.6 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This is attributed to rising in demand for the product from various end-use applications such as seed, soil, and foliar treatment. Biostimulants are fertilizers that are created organically and are used to nourish agricultural products as well as to promote plant growth and production. From the germination of the seed to the maturity of the plant, the product promotes plant growth and development. By encouraging the growth of interdependent soil microbes, these fertilizers also aid in nutrient transfer, assimilation, and usage while improving soil fertility.
The product helps in improving the microflora, which, in turn, improves the efficiency of nutrient uptake by the plant. They increase antioxidant activity and reduce plant stress against the environment and various diseases. The hormones stimulate growth coupled with root development and cell enlargement, therefore, promoting the vigor and overall health of the plant. Biostimulants comprise natural and environment-friendly degradable materials, which do not affect the surroundings of the plant. Therefore, they are witnessing high demand for organic farming practices.
Gather more insights about the market drivers, restrains and growth of the Biostimulants Market
Detailed Segmentation:
Active Ingredients Insights
The acid-based segment dominated the biostimulants market with a revenue share of over 48.0% in 2022. This is attributable to the growing utilization of amino acids which are a major source of phytohormones that help to activate plant metabolic systems and promote seed generation. Humic chemicals are end products of microorganisms such as bacteria and fungi, as well as the chemical decomposition of animal and plant wastes in soils.
Crop Type Insights
Row crops & cereals dominated the market with a revenue share of over 61.0% in 2022. This is attributable to the rise in demand for cotton, oats, barley, millets, and soybeans which are referred to as row crops or commodity crops. These crops are cultivated in wide areas that are expected to deliver potential growth for the market globally. The product increases the rate of seed size, cell division, and row crop yields such as corn, barley, and soybean. They contain polyamines, Indole-3-acetic acid, and amino acids, which result in overcoming the barriers of cell expansion and cell divisions.
Application Insights
The foliar treatment application dominated the market with a revenue share of over 79% in 2022. This is attributable to surging usage in plant foliar treatment, as the product is broadly applied to the leaves to make the absorption of nutrients easier. Biostimulants for plant foliar treatment are typically sold in liquid form to make application easier. Glycine betaine, IPA, and chelated nutrients are the most active ingredients used in foliar applications. Foliar treatment holds the largest market share in the global market on account of its vast benefits. The treatment results in quicker absorption of nutrients through leaves increasing cellular activity and enhancing nutrient uptake.
Regional Insights
Europe dominated the market with a revenue share of over 37.0% in 2022. This is attributed to the supportive regulations to increase the production of organic food which is expected to drive the market in the region. Germany is one of the major producers of protein crops such as field beans and field peas. It is also the largest producer of rapeseed in Europe. The production of rapeseed is driven by various applications including biofuel, food, and other industrial uses. The demand for rapeseed is more than the domestic supply in Germany, which requires better fertilizers such as biostimulants to improve crop yield.
Browse through Grand View Research's Agrochemicals & Fertilizers Industry Research Reports.
• The global forage seed market size was estimated at USD 4.71 billion in 2023 and is projected to grow USD 6.19 billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030. Owing to the demand for high-quality seeds used in livestock feed is experiencing significant growth, primarily driven by the increasing global livestock population.
• The global neem extracts market size was valued at USD 1.89 billion in 2023 and is expected to grow at a CAGR of 11.3% from 2024 to 2030. The major driving factor for the neem extract market is its prominence in the health and wellness sector as they are used in nutraceuticals and dietary supplements due to their bioactive components.
Key Companies profiled:
• Isagro Group
• BASF SE
• Biolchim S.P.A.
• Sapec Agro S.A.
• Platform Specialty Products Corporation
• Novozymes A/S
• Valagro SpA
• Italpollina SAP
• Koppert B.V.
• Biostadt India Limited
Biostimulants Market Segmentation
Grand View Research has segmented the global biostimulants market on the basis of active ingredients, crop type, application, and region:
Biostimulants Active Ingredient Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)
• Acid Based
• Seaweed Extract
• Microbial
• Others
Biostimulants Crop Type Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)
• Row Crops & Cereals
• Fruits & vegetables
• Turf & Ornamentals
• Others
Biostimulants Application Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)
• Foliar Treatment
• Soil Treatment
• Seed Treatment
Biostimulants Regional Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
• Europe
o Germany
o U.K.
o Italy
• Asia Pacific
o China
o India
o Japan
o Australia
• Central & South America
o Brazil
• Middle East & Africa
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