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Biostimulants Market to Hit USD 7.97 billion by 2030 with a CAGR of 11.65% during the Forecast Period

July 06, 2023 | Agriculture

The biostimulants market size is projected to grow from USD 3.69 billion in 2023 to USD 7.97 billion by 2030. As per a report by Fortune Business Insights™ titled, “Biostimulants Market Size, Share & COVID-19 Impact Analysis, By Source (Microbial and Non-microbial), By Active Ingredient (Seaweed Extracts, Humic Substances, Vitamins & Amino Acids, Microbial Amendments, and Others), By Application (Foliar Application, Soil Treatment, and Seed Treatment), By Crop (Row Crops, Fruit and Vegetables, Turf & Ornamentals, and Others), and Regional Forecast, 2023-2030 ” The market stood at USD 3.34 billion in 2022. It is set to exhibit a CAGR of 11.65% during 2023-2030.


Supply Chain Disruptions to Slow Down Growth during COVID-19 Pandemic


The outbreak of COVID-19 resulted in a negative impact on the market. The prominent players in the market witnessed a decrease in their crop production product segment’s revenue generated during 2020. The growing demand and need for bio-based, sustainable agri-inputs and safe will drive the market during the pandemic.


Increasing Support from Government to Result in Enhanced Market Growth


Rise in agricultural emissions has encouraged the government to rise agricultural production of high-quality products that emit less pollution. These governmental efforts are predicted to aid market growth in the coming years. The regulations need manufacturers to label their products with expiration dates, chemical composition, and compulsory pre-registration with the government.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/biostimulants-market-100414


Corteva Agriscience Launched New Biostimulant to Maintain their Position in the Market


Corteva Agriscience launched Utrisha N, the first nutrient-efficiency biostimulant. It provides Canadian farmers with a naturally derived biological tool to effectively manage their nitrogen investment, reduce their carbon footprint, and provide crops with nitrogen all season long.


Competitive Landscape:


The prominent key players in the market are regularly trying to launch and innovate products to establish their stand. Many other small and large market players are embarking on strategies, such as collaboration with the government, merger and acquisition, research & development, and others. To find their stand in the market.


Notable Industry Development:



  • January 2022: Bayer AG declared the release of Ambition, a crop supplement formulation containing amino acids and fulvic acids, for the Chinese market. It’s the first amino acid biostimulant to enter the Chinese market.


List of the Companies Profiled in the Report:



  • Bayer AG (Germany)

  • Syngenta AG (Switzerland)

  • UPL Limited (India)

  • Gowan Group (U.S.)

  • BASF SE (Germany)

  • Marrone Bio Innovations (U.S.)

  • SEIPASA S.A. (Spain)

  • P.I. Industries (India)

  • Novozymes A/S (Denmark)

  • Koppert Biological Systems (Netherlands)


Further Report Findings:



  • Europe conquered the world market in revenue and stood at the highest position in 2022. Europe is growing considerably due to the government’s increased emphasis on adopting sustainable farming substances, methods, and tools, along with several biostimulants promoting councils in the region.

  • The North America market witnessed increased investments in the R&D of agricultural biologicals and is expected to continue its growth. These are rising as an integrated part of a holistic approach to supporting maximizing yields.


Table of Segmentation:


























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 11.65% from 2023 to 2030



Unit



Value (USD billion)



By Source




  • Microbial

  • Non-Microbial



By Active Ingredient




  • Seaweed Extracts

  • Humic Substances

  • Vitamins & Amino Acids

  • Microbial Amendments

  • Others



By Application




  • Foliar Application

  • Soil Treatment

  • Seed Treatment

  • Microbial Amendments

  • Others



By Crop




  • Row Crops

  • Fruits & Vegetables

  • Turf and Ornamentals

  • Others



By Geography




  • North America (By Source, By Active Ingredient, By Application, By Crop, and By Country)

    • U.S. (By Source, By Active Ingredient, By Application, By Crop)

    • Canada (By Source, By Active Ingredient, By Application, By Crop)

    • Mexico (By Source, By Active Ingredient, By Application, By Crop)



  • Europe (By Source, By Active Ingredient, By Application, By Crop, and By Country)

    • Germany (By Source, By Active Ingredient, By Application, By Crop)

    • France (By Source, By Active Ingredient, By Application, By Crop)

    • Italy (By Source, By Active Ingredient, By Application, By Crop)

    • Spain (By Source, By Active Ingredient, By Application, By Crop)

    • U.K. (By Source, By Active Ingredient, By Application, By Crop)

    • Romania  (By Source, By Active Ingredient, By Application, By Crop)

    • Ukraine  (By Source, By Active Ingredient, By Application, By Crop)

    • Rest of Europe (By Source, By Active Ingredient, By Application, By Crop)



  • Asia Pacific (By Source, By Active Ingredient, By Application, By Crop, and By Country)

    • China (By Source, By Active Ingredient, By Application, By Crop)

    • India (By Source, By Active Ingredient, By Application, By Crop)

    • Japan (By Source, By Active Ingredient, By Application, By Crop)

    • Australia (By Source, By Active Ingredient, By Application, By Crop)

    • Malaysia (By Source, By Active Ingredient, By Application, By Crop)

    • Rest of Asia Pacific (By Source, By Active Ingredient, By Application, By Crop)



  • South America (By Source, By Active Ingredients, By Application, By Crop, and By Country)

    • Brazil (By Source, By Active Ingredient, By Application, By Crop)

    • Argentina (By Source, By Active Ingredient, By Application, By Crop)

    • Rest of South America (By Source, By Active Ingredient, By Application, By Crop)



  • Middle East & Africa (By Source, By Active Ingredient, By Application, By Crop, and By Country)

    • South Africa (By Source, By Active Ingredient, By Application, By Crop)

    • Israel (By Source, By Active Ingredient, By Application, By Crop)

    • Rest of ME&A (By Source, By Active Ingredient, By Application, By Crop)




Biostimulants Market
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  • 2019-2021
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