The global biostimulants market reached a value of US$ 2.1 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 10.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Biostimulants refer to microbe-based agricultural chemicals that are used to promote plant growth organically. They are manufactured using various active ingredients, including humic and fulvic acids, seaweed extracts, amino acids, vitamins, trace minerals, polysaccharides and microbial amendments. They are applied to the soil, seed or leaves of cereals, grains, fruits, vegetables, oilseeds and other plantation crops to enhance the nutrient availability, tolerance to environmental stresses, water holding capacity, metabolism and production of chlorophyll. They also increase the antioxidant activity and stimulate root development and cell enlargement in the plant.
Global Biostimulants Market Growth Drivers:
The thriving agriculture industry, along with the increasing adoption of organic farming practices, is among the key factors driving the market growth. Owing to the rising concerns regarding agricultural sustainability, soil health and environmental safety, biostimulants are increasingly being used along with organic manure to improve soil fertility and plant health. Rising consumer awareness regarding the adverse effects of chemically synthesized pesticides and fertilizers is also providing a boost to the market growth. Biostimulants have a low ecological footprint, non-toxic nature and do not contaminate the soil, which is leading to their widespread adoption. Furthermore, the rising demand for food as a result of the rapidly increasing global population, coupled with the limited availability of cultivable land, is acting as another growth-inducing factor. Biostimulants aid in enhancing the crop yield, thereby meeting the steadily rising food demand across the globe. Other factors, including various innovations in the field of agricultural sciences and extensive research and development (R&D) activities, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biostimulants market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on product type, crop type, form, origin, distribution channel, application, end-user and region.
Breakup by Product Type:
Other Plant Extracts
Microbial Soil Amendments
Chitin & Chitosan
Breakup by Crop Type:
Cereals and Grains
Fruits and Vegetables
Turf and Ornamentals
Oilseeds and Pulses
Breakup by Form:
Breakup by Origin:
Breakup by Distribution Channel:
Breakup by Application:
Breakup by End-User:
Breakup by Region:
Middle East and Africa
Global biostimulants market is highly fragmented with the presence of several small and large manufacturers competing in terms of price and quality. Some of the leading biostimulants companies are:
Biostadt India Ltd.
Valagro SpA Key Questions Answered in This Report:
How has the global biostimulants market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global biostimulants market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the crop type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the origin?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global biostimulants market and who are the key players?
What is the degree of competition in the industry?