|Study Period:||2016 - 2026|
|Fastest Growing Market:||Europe|
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The biostimulant market was valued at USD 2,638 million in 2020, and it is projected to reach USD 5,040 million by 2026, registering a CAGR of 11.71% during the period of 2021-2026.
As a result of the recent COVID-19 pandemic, the supply and demand got poorly hit, and this has led to reduced demand for products in the market. Most of the biostimulant plants and companies were allowed for operation, as they were deemed as an essential business in the United States. Therefore, companies were able to continue manufacturing products. However, the pandemic did affect the market dynamics in terms of demand falling off for some crops in the wake of the virus.
The organic food industry, which is growing at a healthy rate, is the major driving force behind the growth of the biostimulant market. Increased awareness among the farmers, especially in the Asia-Pacific region, regarding the benefits of biostimulants is another factor augmenting the market's growth. The market is also growing due to the increased adoption of sustainable farming methods.
Europe is the largest geographical segment of the market studied. The increasing concern on environmental health is anticipated to aid the growth in the market over the forecast period. Biostimulants are widely used on cereals, fruits, and vegetables. These segments account for around half of the market share. The demand from the North American region is driven by the demand from the turf and ornamental segment of the region.
UPL Corporation Limited, Tradecorp International, and Biostadt India Ltd cover the majority of the market share. Acquisitions, partnerships, and investments are the most adopted strategies in the market.
Scope of the Report
A biostimulant is a substance or a microorganism, which helps enhance the growth of the plant. It does not serve nutrient deficiency. Instead, it increases nutrient availability, water holding capacity, metabolism, and the production of chlorophyll. The biostimulant market is segmented by chemical origin (natural and biosynthetic biostimulants), active ingredient (humic acid, fulvic acid, amino acids, protein hydrolysates, seaweed extracts, and other active ingredients), application (foliar, soil, and seed applications), crop type (grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other applications), and geography (North America, Europe, Asia-Pacific, South America, and Africa).
|Other Active Ingredients|
|Grains and Cereals|
|Pulses and Oilseeds|
|Fruits and Vegetables|
|Other Crop Types|
Key Market Trends
Expansion in Organic Production Practice is Driving the Market
Biostimulants are significant for the future of the agricultural industry in terms of promoting organic practices. Biostimulants can enhance soil microflora, which, in turn, helps make the uptake of nutrients more efficient. Others increase antioxidant activity in plants and boost internal defenses against environmental stresses and disease pressure. Biostimulants are associated with organic farming and gardening, which are currently witnessing healthy progress in conventional agriculture as well. These are increasingly being perceived as a response to the consumer demand for ‘softer’ agricultural practices.
In response to the increasing need to meet food sufficiency and the importance of safe farming practices, the organic food industry is recording an exponential double-digit growth rate. The expanding health-conscious consumer base around the world is opting for organic food to avoid adverse health effects caused by chemical preservatives or genetically modified ingredients of inorganic food.
Organic food and related agriculture currently account for around 5.0%-10.0% of the food market, varying from region to region. According to FiBL, the organic area share of total farmland in Europe increased from 2.7% in 2016 to 3.12% in 2018. Similarly, the organic area share of total farmland in Latin America increased from 0.99% in 2016 to 1.06% in 2018. As organic food products are produced without using any pesticide or fertilizer, the demand for biostimulants on the rise. Consequently, the increasing popularity of organic farming drives the demand for biostimulants.
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Europe Dominates the Global Market
Europe is the largest and fastest-growing segment of the market studied, and it registered a CAGR of 12.3% in 2020. The European Union’s stringent regulations on environmental safety and support for organic farming have paved the way for a flourishing biostimulant market in European countries, such as Germany, Italy, United Kingdom, Spain, and France. For instance, in Germany, the German Federal Office of Consumer Protection and Food Safety (BVL) developed a regulatory framework for “plant strengtheners” (PS) that corresponds to biostimulants, as defined under Section 2.1. Commercial products containing more than 5.0% of seaweed extracts cannot be considered as PS.
In addition, inventions in plant biostimulants targeting specific agronomic needs are attracting new customers in Europe. For instance, Arysta LifeScience launched a new biostimulant that improves the quality of fruit and vegetable yields while relieving stress in the United Kingdom in 2017. The product contains GA142, an active ingredient found in seaweed harvested in North Brittany, where the tides are some of the highest in the world. The GA142 is extracted within 24 hours using a unique cold manufacturing process to retain fresh seaweed's active characteristics and ensure a consistently high-quality product.
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The 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. The major companies in the biostimulant market include UPL Limited, Biostadt India Limited, Agrinos AS, Valagro SpA, and Ilsa SpA, among others.
In February 2020, UPL partnered with Novozymes to provide biological products in the Argentinian market. Biological products made by Novozymes and marketed under the Nitragin brand will become part of UPL’s portfolio, providing a complete range of biosolutions products.
In July 2019, Valagroformed a research collaboration with Marrone Bio Innovations, a developer of bio-based products for pest management and plant health. This strategic collaboration will deliver the development of advanced products, including biostimulants and biofertilizers with value-added tech-based services to farmers globally.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study and Market Definition
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Natural Biostimulants
5.1.2 Biosynthetic Biostimulants
5.2 Active Ingredient
5.2.1 Humic Acid
5.2.2 Fulvic Acid
5.2.3 Amino Acids
5.2.4 Protein Hydrolysates
5.2.5 Seaweed Extracts
5.2.6 Other Active Ingredients
5.4 Crop Type
5.4.1 Grains and Cereals
5.4.2 Pulses and Oilseeds
5.4.3 Commercial Crops
5.4.4 Fruits and Vegetables
5.4.5 Other Crop Types
5.5.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.5.4 South America
22.214.171.124 Rest of South America
126.96.36.199 South Africa
188.8.131.52 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Competitor Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 UPL Limited
6.3.2 Isagro SpA
6.3.3 Agrinos AS
6.3.4 Ilsa SpA
6.3.5 Biostadt India Ltd
6.3.6 Valagro SpA
6.3.7 Eastman Chemical Company
6.3.8 Lallemand Inc.
6.3.9 Atlantica Agricola SA
6.3.10 Italpollina SpA
6.3.11 Koppert Biological Systems
6.3.12 Micromix Plant Health Ltd
6.3.13 Omex Agrifluids Ltd
6.3.14 Tradecorp International
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Biostimulant Market market is studied from 2016 - 2026.
What is the growth rate of Biostimulant Market?
The Biostimulant Market is growing at a CAGR of 11.71% over the next 5 years.
What is Biostimulant Market size in 2016?
The Biostimulant Market is valued at 2638 Million USD in 2016.
What is Biostimulant Market size in 2026?
The Biostimulant Market is valued at 5040 Million USD in 2026.
Which region has highest growth rate in Biostimulant Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Biostimulant Market?
Europe holds highest share in 2020.
Who are the key players in Biostimulant Market?
Biostadt India Ltd., Agrinos AS, Valagro SpA, UPL Limited, Ilsa SpA. are the major companies operating in Biostimulant Market.