Asia-Pacific Biostimulants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Asia-Pacific Biostimulants Market is segmented by Active Ingredient (Humic Acid, Fulvic Acid, Amino Acid, Protein Hydrolysates, and Seaweed Extracts), Origin (Natural and Biosynthetic Biostimulants), Application (Foliar, Soil, and Seed Applications), and Crop Type (Cereals, Oilseeds, Fruits and Vegetables, Turf and Ornamentals, and Other Crop Types), and Geography (China, India, Australia, Japan, and the Rest of Asia-Pacific). The report offers market size and forecast for the Asia-Pacific biostimulants market in value (USD million) for all the above segments.

APAC Biostimulants Industry Overview

Captured
Study Period: 2018 - 2028
CAGR: 15.5 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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APAC Biostimulants Market Analysis

The Asia-Pacific biostimulants market is predicted to record a CAGR of 15.5% during the forecast period, 2022-2027. Due to the emergence of the COVID-19 pandemic, there has been a supply chain disruption because of which the agricultural sector had to face problems such as labor unavailability, transportation barriers, restriction for market access, and lack of inventories in some regions, which slightly affects the growth of the biostimulants market.

An increase in the demand for quality agricultural products and organic produces, and the increasing need for high productivity and yield are expected to increase the consumption of biostimulants in Asia-Pacific, especially in China, India, and Japan. These Asian countries demonstrate a high consumption rate for the products, given their competitive and growing agriculture sector. The regional market constitutes 20% of the global plant biostimulant market.​ The low toxicity levels and superior efficiency instigated a speedy approval of the products. For instance, in 2021, Sea6 Energy, Bengaluru, an Indian-based startup company, received the country's first patent on a biostimulant product. The company also has many unique products derived from red seaweeds. Therefore, unlimited opportunities are available in the Asia-Pacific market scenario for the implementation of biostimulants.

APAC Biostimulants Industry Segments

Biostimulants are chemicals or microorganisms that help enhance the growth of the plant. They do not serve nutrient deficiency. Instead, they increase nutrient availability, water holding capacity, metabolism, and the production of chlorophyll. Owing to the increased importance of agriculture in their economies, India, Japan, and Australia are expected to witness rapid growth in the regional market.

The Asia-Pacific Biostimulants Market is segmented by Active Ingredient (Humic acid, Fulvic acid, Amino Acid, Protein Hydrolysates, and Seaweed Extracts), Origin (Natural and Biosynthetic Biostimulants), Application (Foliar, Soil, and Seed Applications), and Crop Type (Cereals, Oilseeds, Fruits and Vegetables, Turf and Ornamentals, and Other Crop Types), and Geography (China, India, Australia, Japan, and the Rest of Asia-Pacific). The report offers market size and forecast for the Asia-Pacific biostimulants market in value (USD million) for all the above segments.

Active Ingredient
Humic Acid
Fulvic Acid
Amino Acids
Protein Hydrolysates
Seaweed Extracts
Other Active Ingredients
Origin
Natural Biostimulants
Biosynthetic Biostimulants
Application
Foliar
Soil
Seed
Crop Type
Cereals
Oilseeds
Fruits and Vegetables
Turf and Ornamental
Other Crop Types
Geography
China
Japan
India
Australia
Rest of Asia-Pacific

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APAC Biostimulants Market Trends

This section covers the major market trends shaping the APAC Biostimulants Market according to our research experts:

Increased Focus on Sustainable Production and Productivity

Agriculture is a critical sector for the livelihood of individuals and the stability of the overall global economy. Meeting the food needs and their productivity requirements in the future are of tremendous importance because of the increasing global population. This can be achieved through a set of innovations and technologies that have recently come up in support of the agricultural sector; one among them is using biostimulants to boost agricultural production. The use of biostimulants results in improved plant productivity, as they help in the overall nutrient uptake of the plant without affecting the environment.

Plant biostimulants contain beneficial microorganisms, which, when applied to the plant, enhance nutrient uptake, improve tolerance to abiotic stress, and overall crop growth.​ Plant biostimulants are treated as an alternative to chemical intake in agricultural lands. Farmers are looking for more efficient ways to use synthetic chemicals and mineral fertilizers for healthy food products with minimal environmental impacts. According to the FiBL report, the total organic area of the Asia-Pacific region increased up to 7.6% in 2020, compared to 2019. The growing concern on environmental health is anticipated to aid in the growth of the market studied over the forecast period.

Asia- Pacific Biostimulate Market

China Dominates the Biostimulants Market in Asia-Pacific

China forms the largest market for plant biostimulants in Asia-Pacific, with a market share of 33.0%. The increasing population (particularly the middle-class consumers), growing interest in sustainability, and the popularity of organic farming have created an attractive market for plant biostimulants in the country. China is a leader in terms of the development and deployment of biostimulants, especially since the country is the largest national consumer of fertilizers. ​Around 13.0% of the plant biostimulant market in China is occupied by protein hydrolysates, and the segment is expected to record faster growth during the forecast period. ​

Biostimulants play a synergist role, which is just a small part of agricultural production in China. However, the demand is picking as a part of sustainability. In early 2022, Bayer Crop Science launched its first biostimulant product, Ambition, a crop supplement formulation with amino acids and fulvic acids for the Chinese market. The product promotes plant growth and stimulates photosynthesis.

Biostimulant Market Share in %, 2019-2020

APAC Biostimulants Market Competitor Analysis

The Asia-Pacific biostimulant market is highly fragmented, with various small- and medium-sized companies and a few big players, resulting in stiff competition in the market. The development of regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market. North America and Europe are the two regions showing maximum competitor activities, whereas major players like Valagro, Biostimulant, and BASF AG are the dominant players in the Asia-Pacific market.

APAC Biostimulants Market Top Players

  1. Biostadt India Limited

  2. UPL limited

  3. Micromix Plant Health Ltd

  4. Valagro

  5. Lallemand

*Disclaimer: Major Players sorted in no particular order

concentration.PNG

APAC Biostimulants Market Recent Developments

In October 2021, UPL Limited started a long-term strategic collaboration with Chr. Hansen, a global bioscience company that develops microbial-based BioSolutions (including biostimulants and biopesticides).

In 2021, Valagro, a leading company in the development and marketing of biostimulants and specialty nutrients for crops, launched Talete in five additional countries - Australia, China, Colombia, France, and Greece.

APAC Biostimulants Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Active Ingredient

      1. 5.1.1 Humic Acid

      2. 5.1.2 Fulvic Acid

      3. 5.1.3 Amino Acids

      4. 5.1.4 Protein Hydrolysates

      5. 5.1.5 Seaweed Extracts

      6. 5.1.6 Other Active Ingredients

    2. 5.2 Origin

      1. 5.2.1 Natural Biostimulants

      2. 5.2.2 Biosynthetic Biostimulants

    3. 5.3 Application

      1. 5.3.1 Foliar

      2. 5.3.2 Soil

      3. 5.3.3 Seed

    4. 5.4 Crop Type

      1. 5.4.1 Cereals

      2. 5.4.2 Oilseeds

      3. 5.4.3 Fruits and Vegetables

      4. 5.4.4 Turf and Ornamental

      5. 5.4.5 Other Crop Types

    5. 5.5 Geography

      1. 5.5.1 China

      2. 5.5.2 Japan

      3. 5.5.3 India

      4. 5.5.4 Australia

      5. 5.5.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Eastman Chemical Company

      2. 6.3.2 UPL Limited

      3. 6.3.3 Isagro SpA

      4. 6.3.4 Lallemand Plant Care

      5. 6.3.5 Agrinos AS

      6. 6.3.6 Atlántica Agricola

      7. 6.3.7 Biostadt India Ltd

      8. 6.3.8 Brandt Consolidated Inc.

      9. 6.3.9 Ilsa SpA

      10. 6.3.10 Italpollina SpA

      11. 6.3.11 Koppert

      12. 6.3.12 Micromix Plant Health Ltd

      13. 6.3.13 Omex Agrifluids Ltd

      14. 6.3.14 Tradecorp International

      15. 6.3.15 Valagro SpA

      16. 6.3.16 Agroenzymas Group

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

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APAC Biostimulants Market Research FAQs

The Asia-Pacific Biostimulants Market is studied from 2018 - 2028.

The Asia-Pacific Biostimulants Market is growing at a CAGR of 15.5% over the next 5 years.

Biostadt India Limited, UPL limited, Micromix Plant Health Ltd, Valagro, Lallemand are the major companies operating in Asia-Pacific Biostimulants Market.

Asia-Pacific Biostimulants Industry Reports

In-depth industry statistics and market share insights of the Asia-Pacific Biostimulants sector for 2020, 2021, and 2022. The Asia-Pacific Biostimulants research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Asia-Pacific Biostimulants report PDF.

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