Biostimulants Market to Grow at a CAGR of 11.69% During 2024-2032; Olmix Group Acquired Bois Valor to Consolidate its Biosourced Solutions’ Portfolio

The global biostimulants market size was valued at USD 3.64 billion in 2023. The market is projected to grow from USD 4.03 billion in 2024 to USD 9.75 billion by 2032, exhibiting a CAGR of 11.69% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Biostimulants Market Size, Share & Industry 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, Fruits and Vegetables, Turf & Ornamentals, and Others), and Regional Forecast, 2024-2032.”

Biostimulants are microorganisms or substances that are applied to the plants that help abiotic stress tolerance, crop quality, and nutrition efficiency. The increasing demand for high-value crops and rising abiotic stress encouraging farms to adopt bio-based agriculture products increasing crop yields, boost market growth.

The biostimulants market was negatively impacted by the COVID-19 pandemic. The decreased sales experienced by the key players due to the increased supply chain disruptions during the COVID-19 pandemic hampered market expansion.

Olmix Group Acquired Bois Valor to Consolidate its Biosourced Solutions’ Portfolio

Olmix Group, a company specialized in the development of biosourced technological solutions, acquired Bois Valor, an expert in foliar biostimulants and seed treatment solutions. The acquisition is aimed at consolidating the biosourced solutions’ portfolio of Olmix Group and support sustainable agriculture models.

Increasing Government Initiatives to Propel Market Growth

The rising government initiatives from the governments due to the increasing agricultural emissions to raise agricultural production of high-quality products emitting less or no pollution to drive the biostimulants market growth. The governments are introducing programs to educate farmers regarding different advantages of bio-agri solutions globally, which is expected to boost the market expansion during the forecast period. The increasing number of government associations formed for the regulation of biostimulants globally boosts market expansion.

However, limited availability and awareness of quality products, along with lack of stable regulatory and supporting policy for networks, and lack of trust in new products may impede market expansion.

Rising Focus of these Key players on Mergers and Acquisitions to Drive Market Growth

The biostimulants market consists of major market players, such as Yara International ASA, and others. The increasing focus of these major players on mergers and acquisitions, collaborations with the government, and research and development to maintain competitive edge, further propelling market growth.

Notable Industry Development

• February 2022 – Valagro partnered with Valagro Biosciences, its Indian subsidiary, to introduce its innovative biostimulant Talete in the Indian market. Talete is the solution, which is developed by Valagro to raise Crop Water productivity.

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

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

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 held the largest biostimulants market share and accounted for USD 1.43 billion in 2023. The growth is attributed to the increased government emphasis on the adoption of sustainable farming substances, methods, and tools, with many product-promoting councils in the region. 


• North America to leading the market significantly in the market. The growth is attributed to the increased investments in the research and development of the agricultural biologicals.


• Asia Pacific is expected to witness significant growth during the forecast period. The growth is attributed rising sustainable agriculture practices adoption, along with the increasing population in key countries, such as China and India, and rising awareness of impact on the environment by chemical fertilizers.


• The increasing organic agriculture sector across the South American economies, including Argentina and Brazil, is expected to contribute to the increasing product’s demand across the region.

Table of Segmentation: