Global Biostimulants Market Overview

Biostimulants are emerging as a crucial constituent in sustainable agricultural practices. They are an effective alternative for chemical-based agro-products, which are replacing these at a higher rate on account of their eco-friendly nature and performance efficiency. Notably, the Global Biostimulants Market is projected to grow at a CAGR of over 11% during the forecast period on account of rising focus on enhancing productivity, coupled with rapid soil degradation.

Active Ingredient Insights

Based on Active Ingredient, the market is segmented into acid based, seaweed extract and microbial. Acid-based biostimulants occupy a major share of the active ingredient segment, which include products based on humic, fulvic and amino acids. Furthermore, seaweed extracts which are mainly used as biostimulants due to presence of plant growth substances and metal elements are anticipated to register the fastest growth rate over the forecast period. Notably, green, red and brown algae are widely used seaweed extracts.

Crop Type Insights

Based on Crop Type, the market is segmented into row crops and cereals, wherein row crops and cereals dominate the overall biostimulants market. Increasing adoption of biostimulants for cultivation of row crops & cereals and growing demand for organic cereals is expected to further bolster this segment.

Application Insights

Based on Application, the biostimulants market is segmented into foliar and soil, wherein the foliar application technique leads the application segment, while seed treatment is anticipated to exhibit the maximum revenue-based CAGR during the forecast period. Furthermore, seed treatment is one of the most cost-effective applications, compared to conventional spraying methods.

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Regional Insights

Europe is the highest revenue-generating region in the global biostimulants market which is expected to retain its dominance during the forecast period. Supportive regulations to enhance production of organic foods are anticipated to enhance the biostimulant applications. However, sluggish growth of the agriculture sector in Western Europe is anticipated to remain a limiting factor for the market. Additionally, presence of biofertilizers is anticipated to pose a threat of substitution in the future.

Separately, Asia Pacific is expected to witness healthy growth during the forecast period on account of presence of numerous agriculture-driven economies such as China, Australia and India. Steady growth in the agriculture sector and dependency of the population on the farming sector, presents attractive growth opportunities for the biostimulants market in the region.

Competitive Landscape

Some of the leading companies in the global biostimulants market are BASF SE, Italpollina SAP, Sapec Agro S.A., Biolchim S.P.A., Isagro Group, Platform Specialty Products Corporation, Koppert B.V., Novozymes A/S, Biostadt India Limited, Valagro SpA, among others.Some of the leading players in the global biostimulants market are BASF SE, Isagro Group, Sapec Agro S.A., Biolchim S.P.A., Novozymes A/S, Platform Specialty Products Corporation, Valagro SpA, Koppert B.V., Italpollina SAP, Biostadt India Limited, among others.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major players operating in global biostimulants market.

TechSci Research calculated the market size of biostimulants using a top-down approach, where data for various end-user segments was recorded and forecasted for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

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