Asia-Pacific Biostimulants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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.​ The growing concern on environmental health is anticipated to aid in the growth of the market studied over the forecast period. Plant biostimulants are treated as an alternative to chemical intake in the agricultural lands.

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. ​