Biostimulants, whether composed of chemicals or microbes, are added to soil, seeds, or plants to encourage the growth of natural processes that increase nutrient uptake and abiotic stress resistance. Using biostimulants offers several benefits, such as improving crop yields by enhancing biological efficiencies, reducing agricultural stress, and producing higher-quality crops. It is crucial to choose biostimulants from a reputable source with real-world field tests and research data. These products, like soil conditioners, have the potential to increase crop production and meet future food requirements while helping the farming community achieve food production goals, mitigate unfavorable weather effects, and increase profits through higher-quality produce. Furthermore, biostimulants can significantly reduce the need for chemical pesticides and fertilizers, providing farmers with a sustainable alternative that does not harm the ecosystem.
Biostimulants are made up of natural substances such as bacteria, yeast, fermented metabolites, algae or plant extracts, amino acids, humus substances, biomolecules, fungi, and others. Depending on the intended use and farm requirements, they may come in different shapes, including micro granules, powders, and liquid mixtures, and can be applied to both leaves and stems.
The Covid-19 pandemic had varying effects on almost every industry, including agriculture, as several countries implemented full or partial lockdowns to stop the disease's spread, which slowed production and disrupted supply chains. Transporting raw materials, such as protein hydrolysates and amino acids, was particularly challenging due to the strict travel restrictions. However, despite these challenges, the demand for biostimulants is expected to rise due to the growing demand for bio-based, secure, and sustainable agri-inputs. Additionally, the market is expected to stabilize and prosper in the upcoming months due to the efforts of major players in the industry, such as Syngenta and Novozymes, to maintain operations while implementing safety measures.
Biostimulants Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Valagro SpA, Sapec Agro S.A., Platform Specialty Products Corp., Novozymes A/S, Koppert B.V., Italpollina SAP, Isagro Group, Biostadt India Ltd., Biolchim SpA, BASF SE, Hello Nature, Lallemand, Agriculture Solutions Inc.
Global Biostimulants Market Segmentation:
By Active Ingredient: Based on the Active Ingredient, Global Biostimulants Market is segmented as; Amino Acid, Humic Substances, Microbial Amendments, Seaweed Extracts, Others
By Application: Based on the Application, Global Biostimulants Market is segmented as; Foliar treatment, Seed treatment, Soil treatment, Others
By Crop Type: Based on the Crop Type, Global Biostimulants Market is segmented as; Cereals & Grains, Fruits & Vegetables, Oil Seeds & Pulses, Others
By Formulation: Based on the Formulation, Global Biostimulants Market is segmented as; Dry, Liquid
By Region: The Global Biostimulants Market Report covers Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States. In previous year, Europe ruled the globe due to the government's increased focus on using sustainable farming products, tools, and techniques as well as a number of biostimulants promotion councils in the region, the market in Europe is growing significantly.
The European Union's agricultural regulatory structure is becoming more open to environmental concerns, encouraging the creation of novel models, systems, and practices that are sustainable and eco-friendly and enable the plant to make the most of its resources. In Europe, biostimulant materials are already used extensively and are expected to increase significantly over the projection period.
The market in Asia Pacific is expected to witness significant growth in the forthcoming years. This can be attributed to the growing use of ecological agricultural methods in important Asian nations like China and India. The industry is anticipated to grow as Asian producers increasingly adopt high-quality agricultural products. The need for increased food output has grown as a result of the population growth that is ongoing in several Asian economies.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.