Biostimulants Market (By Form: Dry, Liquid; By Active Ingredient: Humic substances, Seaweed extracts, Microbial amendments, Amino acids, Others; By Crop Type: Cereals & grains, Fruits & vegetables, Turf & ornamentals, Oilseeds & pulses, Others; By Application: Foliar Treatment, Soil Treatment, Seed Treatment) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global biostimulants market size was exhibited at USD 3.81 billion in 2022 and is projected to hit around USD 10.85 billion by 2032, growing at a CAGR of 11.03% during the forecast period 2023 to 2032.

Key Pointers:

• By active ingredient, U.S. biostimulants market was valued at USD 511.5 million in 2022.
• Europe biostimulants market was valued at USD 925.30 million in 2022.
• By geography, Europe accounted largest market share 39% in 2022.
• Germany is expected to reach valuation US$ 698.2 million by 2032.
• By type, the row crops and cereals segment accounted market share 61% in 2022.
• By active ingredients segment, the acid-based segment accounted 51% of market share in 2022.
• Based on form, liquid segment is expected to reach USD 2.97 billion by 2032.
• By application, the foliar segment is anticipated to grow at CAGR of 10.9% from 2023 to 2032.
• The foliar treatment application segment accounted revenue share of around 81% in 2022.
• The acid based active ingredients segment value is projected to reach at US$ 4,417.4 million by 2032.
• Microbial amendments segment accounted revenue share 16.2% in 2022.

Biostimulants Market Report Scope

Food and agricultural production systems worldwide are facing unprecedented challenges, from the increasing demand for food for a growing population, rising hunger and malnutrition, adverse climate change effects, overexploitation of natural resources, loss of biodiversity, and food loss and waste. These challenges can undermine the world’s capacity to meet its food needs now and in the future.

According to FAO, in 2021, organic agriculture will be practiced in 187 countries, and 72.9 million hectares of agricultural land will be managed organically. The global sales of organic food and drinks reached more than USD 103.68 billion in 2019. There is a paradigm shift in India post the COVID-19 pandemic as consumers began to buy more organic foods as a preventive health measure. Organically grown fresh fruit has taken a leading position in international trade. The production and sales of organic food are from developed countries, but even developing countries have begun to produce and export organic foods and products. According to APEDA, India is the leading exporter of organic tea and coffee, spices, and condiments. India also exports organic fruits and vegetables. The rich nutritional value of organic fruits and vegetables is the main reason for their demand in the domestic and global markets. Organic foods have more antioxidants than conventionally grown varieties, making them more beneficial for health, including cancer prevention.

Biostimulants Market Dynamics

Drivers: Increase in need for sustainable agriculture

A high level of hunger and malnutrition is one of the major challenges that the world is facing today. To meet the increasing demand for food from over 9 billion people by 2050, immense pressure on agriculture will be exerted to produce crops with a high-quality yield. Simultaneously, one-third of the total food production is wasted globally throughout the supply chain, incurring enormous environmental and financial costs.

Agricultural producers are required to identify possible ways to be more efficient and effective in the coming decade. Biostimulants can sustainably address this issue by providing protection against stress, thereby stimulating the plant’s growth. The market for biostimulants is expected to grow in the coming years due to the increasing consumer awareness about the benefits of organic foods, the implementation of organic regulations, and the adoption of GLOBALGAP (Global Good Agricultural Practices) policies. A large variety of crops, such as fruits & vegetables and cereals, have been gaining support for organic practices from government subsidies and financial aids as well as research assistance from organizations and regulatory bodies, such as FiBL (Research Institute of Organic Agriculture, Switzerland), and USDA (US).

Restraints: Commercialization of low quality biostimulant products

Lack of transparency in patent protection laws in various countries has led to the prevalence of low-quality products. Even though the biostimulants market has limited entry barriers and allowed many competitors to commence operations, the nature of the market has become fragmented into smaller pockets of market holdings. This has been a factor in introducing low-quality products in the market by regional or local manufacturers to reap the benefits of the growing demand for biostimulants. The low prices of these products from small-scale domestic manufacturers also attract farmers to purchase them. Similar product formulations from many competitors reduce consumer loyalty as well as the brand value of the products. The biostimulants market is expected to be a niche market experiencing strong growth trends, which has to be capitalized on by developing innovative products that act on a wide range of crops with better results. When a company does not develop its unique selling proposition in the biostimulants market, it would find difficulty expanding its presence other than in the regional market.

Opportunities: Growing demands for seed treatment

According to MarketsandMarkets insights, there is a growing demand for biostimulant treated seeds globally. The production of high-quality and effective seeds is essential for obtaining a higher crop yield. Biostimulants facilitate an increase of seed vigor during the crucial growth phases, due to which they are being used globally for seed treatment purposes. In addition, many companies have already started exploring this segment with increased investments in R&D activities. The right combination of synthetic crop protection and biological-based seed treatments is proving to be useful. Cotton seedlings were the first to be treated on a large scale with biological solutions in the US in 1999; the industry has grown since. Seed treatment provides an efficient mechanism for enhancing the activity of seeds in the soil environment, where they are appropriately positioned to colonize seedlings and roots and protect them against soil-borne diseases and pests.

Global initiatives such as the “Good Seed Initiative by Commonwealth Agricultural Bureaux International (CABI) for the Sub-Saharan, African and Asian countries and the SeEdQUAL by Consultative Group on International Agricultural Research (CGIAR) are driving the use of effective biostimulants in the global seed treatment industry. The biostimulant seed treatment products not only help in protecting seeds but also act as seed enhancers. With the intervention of changes in different formulations and active ingredients, these biostimulants, in combination with biopesticides, bioinsecticides, and other biocontrols, provide a broad spectrum of protection from insects, diseases, and nematodes. By establishing a symbiotic relationship between roots and soil, biostimulants provide essential benefits to crop efficiency and productivity. Such innovations are expected to offer growth opportunities for key players in the market.

Challenges: Regulatory barriers

Biostimulants have not yet been governed under any standard categorization across the globe. They are not classified as a specific category with a consistent global definition. According to EBIC, in Europe, there is uncertainty about whether biostimulants should be categorized under plant protection or plant nutrition category; and this has resulted in a divided set of contradicting opinions on the products. They are considered additives in France, whereas they are marketed as plant straighteners or growth enhancers in Germany.

To consolidate the regulatory framework concerning biostimulants in Europe, the European Biostimulants Industry Consortium (EBIC) has drafted a directive based on the views and suggestions of manufacturers and research institutes and tabulated it for EU approval. However, biostimulant products must undergo repetitive registration processes under each European country’s respective regulations. The data requirements and parameter ranges also vary according to each country in the EU.

Some of the prominent players in the Biostimulants Market include:

• BASF SE 
• UPL 
• Gowan Group  
• ILSA S.p.A  
• Haifa Group
• Rallis India Limited
• FMC Corporation
• Valagro S.p.A

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Biostimulants market.

By Form

• Dry
• Liquid

By Active Ingredient

• Humic substances
• Seaweed extracts
• Microbial amendments
• Amino acids
• Others

By Crop Type

• Cereals & grains
• Fruits & vegetables
• Turf & ornamentals
• Oilseeds & pulses
• Others

By Application

• Foliar Treatment
• Soil Treatment
• Seed Treatment

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)