Report Overview

Global Biostimulants Market Forecast and Trends

The human population is increasing quickly and is anticipated to cross 9 billion by 2050. The current trend of agricultural food production is insufficient to support global food demand. It has been estimated that within the coming next 40 years the agricultural food production must be increased by 60%. These factors are expected drive the biostimulants market to coupled with increase in food production. The extensive uses of agrochemicals for fulfilling the global food requirement have degraded 25% of the productive agricultural land that results in arid and non-fertile soils. Increasing focus on enhancing productivity, along with rapid soil degradation, is expected to propel the biostimulants market over the forecast period.

Biostimulants are appearing as an essential component in a sustainable agricultural method. Furthermore, rapid globalization trends and modern industrialization have diminished the arable lands for agricultural purposes and call for intensifying agricultural production through sustainable routes.

Global Biostimulants Market: Overview

Biostimulant is any substance or microorganism used in agriculture with the purpose of improving nutrition efficiency, abiotic stress tolerance, and crop quality attributes, regardless of its nutrients content. Plant biostimulants also designate commercial products containing mixtures of such substances and/or microorganisms. These are multifunctional ecofriendly formulations by restricting the use of chemical fertilizer and playing important role in the improvement of fruit color, quality, seed setting, enhancing soil fertility, enhancing nutrient assimilation, and translocation. Microbial biostimulants like various species of PGPRs (Azotobacter, Azospirillum, and Rhizobium spp.) and fungal biostimulants like Trichoderma spp. and various endophytic fungi including mycorrhizal fungi have been considered as promising means not only to secure crop productivity under nutrient challenged conditions but also to avoid other environmental concerns.

The current trend of intensifying agricultural food production is the plentiful use of chemical fertilizers, agrochemicals, use of improved hybrids, seed varieties, resistant cultivars, or other technological innovations, such as improved irrigation methods, all of which have supported the increased food production to some extent.

Growth Drivers

Increasing need for sustainable agriculture

With rapidly changing climatic scenario, modern agriculture faces several challenges, including drought, soil salinity, depletion of mineral nutrients, temperature stress, and evolutionary pressure of pest and pathogens have affected the global productivity at the economic level. To enhance the agricultural production in a sustainable manner through the use of efficient agroecosystem, biostimulants can play a major role to for increase the productivity as well quality of agriculture products.

Global Biostimulants Market: Active Ingredient

Based on Active Ingredient, the global Biostimulants market segmented into Acid Based, Seaweed Extracts, Microbial and Others. Acid-based biostimulants made the largest active ingredient segment in previous years. Products based on humic, fulvic, and amino acids are included in the acid-based segment. Amino acids are among major originators of phytohormones and help in activating the metabolic systems of plants and seed germination. They stimulate fruit setting, pollination, flowering, and fruit development in the plant. Humic substances are naturally occurring end-products emerging from the decomposition of microorganisms such as bacteria, fungi, and chemical degradation of animal and plant residues in soils.

Global Biostimulants Market: Application

Based on Application, the global Biostimulants market segmented into Foliar Treatment, Seed Treatment and Soil Treatment. Foliar treatment is expected the dominate the market during the forecast period whereas seed treatment is anticipated to show the highest revenue-based CAGR over the projected period. Seed treatment is among the most cost-effective treatments as compared to conventional spraying techniques. The treatment is highly efficient and does not much labor as compared to other treatments. This helps in reducing overall input costs.

Global Biostimulants Market: Regional Insights

Based on region, the global Biostimulants market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Supportive regulations, along with the adoption of modern agricultural technology such as precision farming and plant biotechnology, and organic-based active ingredients, were the primary reason for the market growth.

Asia-Pacific region is expected to grow at a high CAGR during the forecast period due the agriculture driven economy of India, China and other Asian countries. As China and India have the largest populations in the world, the food supply demand is also large.

Competitive Landscape