Biostimulants Market (Product: Humic Acids & Fulvic Acids, Amino Acids, Microbial Stimulants, Seaweed, Vitamins, and Biorationals; and Application: Fruits & Vegetables, Oilseeds & Pulses, Cereals & Grains, Turfs, Landscapes, and Ornamental Flowers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Chemicals & Materials
- 239 Pages
Participants in Value Chain to Deploy Biostimulants to Enhance Yield and Food Security
Due to a significant amount of research, biostimulants have gained considerable popularity over the past decade. At present, biostimulants are increasingly being used in the plant production process to enhance plant growth, quality, productivity, and assist various plants in dealing with environmental stress. Horticulture production techniques and patterns are continually going through waves of innovation as the global demand for environment-friendly crop management continues to intensify. Inorganic agriculture is gradually losing its sheen due to which, deployment of pesticides and fertilizers has declined. At present, companies involved in the biostimulants market are exploring the potential uses of biostimulants in conjunction with hydroponics across degraded agricultural regions.
The demand for biostimulants is on the rise, owing to its exceptional capabilities of enhancing plant productivity. In addition, biostimulants also aid in root system development, improving photosynthetic activities, enhancing plant uniformity, and streamline flowering. Participants involved in the biostimulants market value chain, including investors, consumers, regulators, and farmers are investigating the potential applications of biostimulants in sustainable agriculture. At present, both, developed as well as the developing nations are formulating guidelines pertaining to the use of biostimulants. Due to these factors, the global biostimulants market is expected to reach a market value of ~US$ 5.5 Bn by the end of 2027.
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Uptake of Humic Acid & Fulvic Acid to Rise in Future
The soaring interest in plant biostimulants over the past decade, particularly shown by scientists, private industries, specialists, etc., has paved the way for significant developments in this sector. The desirable outcome attained from using biostimulants in improving yield stability and enhancing crop performance continue to generate interest. As per the European Commission’s (2016) draft, non-microbial plant biostimulants are organic in nature, including protein hydrolysates (PH), seaweed extracts (SWE), and humic acids (HA). These three types of biostimulants are expected to collectively account for over 50% share of the biostimulants market in Europe. The storyline is set to remain the same at the global level as humic substances, including fulvic and humic acid are increasingly being used as a soil drench and in some instances, via foliar applications.
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The uptake of humic and fulvic acid is expected to move in the upward trajectory, owing to a range of factors, including improvements in the soil structure, phosphorous solubility, and lateral root induction. Improved protection from abiotic stress, drought, UV, and salt stresses, among others, are some of the other potential uses of fulvic and humic acid due to which, the demand is set to grow at an impressive pace in the forthcoming decade. With additional research and development activities that continue to underline biochemical and physiological mechanisms of plant biostimulants, the biostimulants market is expected to witness considerable growth during the forecast period.
Research, Development of New Biostimulants, and Pursuit for Sustainable Agriculture
For several decades, the existing ambiguity pertaining to the difference between biopesticides and biostimulants led to a management crisis for regulators worldwide. However, owing to significant efforts roped in by trade associations such as Biostimulant Coalition and Biological Products Industry Alliance (BPIA) have played an important role in addressing these issues, which in turn, have paved the way for considerable developments in the biostimulants market. Companies involved in the current biostimulants market landscape are investing resources in research to develop new biostimulants. For instance, in November 2019, Lavie Bio announced that the company is taking strides in the development of a new wheat-based biostimulant, which has now entered the next phase of development. Companies such as Lavie Bio are expected to formulate effective growth strategies that will scale-up production and are in-sync with application protocols.
As the pursuit of sustainable agriculture and improved food security continues to gain momentum, the demand for biostimulants is expected to witness considerable growth. Companies participating in the current biostimulants market are likely to research on functional mechanisms of biostimulants to improve adoption. In addition, end users of these products are also anticipated to focus on selecting the right product type in tune with their applications.
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The global biostimulants market is expected to grow at an impressive CAGR of ~12% during the forecast period. The market growth can be primarily attributed to a host of factors, including a shift toward sustainable agriculture, advancements in technology, and emphasis on research and development. The growing demand for fulvic and humic acid coupled with significant developments on the research front pertaining to the potential of seaweed as biostimulants. Companies involved in the biostimulants market landscape should focus on the development of new biostimulants and allot a considerable amount of resources to evaluate the functional aspects of these products.
Biostimulants Market: Overview
- Biostimulants are applied to soil, seeds, plants, and other substrates for stimulating natural processes of plants. They aim to develop nutrient use efficiency of plants. Biostimulants enhance crop vigor; crop quality; crop yield; and crop tolerance to abiotic stress. Biostimulants contain various formulations of substances, microorganisms, and compounds, which are applied on soils or plants. Biostimulants nurture the development of plants throughout their lifecycle, right from seed germination to crop maturity. Biostimulants differ from conventional agrochemical solutions such as pesticides and fertilizers, as they work for the vigor of plants, but are not intended for use against pests or diseases.
- The global biostimulants market is anticipated to expand at a significant pace during the forecast period, owing to the rise in demand for eco-friendly agro products across the world. Biostimulants are used as effective tool for the development of sustainable agricultural products.
- Increase in ecological concerns, led by excessive usage of synthetic pesticides, reduction in availability of arable land, rise in demand for higher-value crops, and growth in adoption of eco-friendly agro products are estimated to boost the global biostimulants market during the forecast period.
- Decrease in availability of arable land has been driving the adoption of bio-based crop protection chemicals in order to increase the crop yield over the last few years. Availability of arable land has decreased significantly, due to the erosion of soil and rise in population. Frequent plowing of fields and rise in usage of chemical-based fertilizers have led to soil degradation. Growth in population and its unpredictable consumption patterns are likely to create substantial demand for food in the near future, thereby pressurizing the existing arable land resources. Biostimulants serve as eco-friendly solutions that not only improve the quality and quantity of the crop yield, but also enrich structure and nutritive value of the soil. Thus, decline in availability of arable land is anticipated to present significant opportunities to the global biostimulants market in the near future. However, lack of awareness among farmers regarding efficacy and benefits of biostimulants, particularly in developing countries, is likely to hamper the global biostimulants market in the near future.
- Growers in developing nations prefer conventional techniques. They are expected to exhibit a sluggish rate of adoption of innovative agro products (including biostimulants) between 2019 and 2027.
Rise in Demand for Humic Acids and Fulvic Acids in Agriculture Sector
- The global biostimulants market has been segmented based on product, application, and region. Based on product, the market has been divided into humic acids & fulvic acids, amino acids, microbial stimulants, seaweed, vitamins, and biorationals. In terms of revenue, the humic acids & fulvic acids segment held major share of the market in 2018. Based on application, the global biostimulants market has been classified into fruits & vegetables, oilseeds & pulses, cereals & grains, turfs, landscapes, and ornamental flowers. In terms of revenue and volume, the fruits & vegetables segment constituted significant share of the global market in 2018. It is anticipated to expand at a rapid pace during the forecast period.
- Based on application, the cereals & grains segment is estimated to expand significantly during the forecast period. Biostimulants are primarily employed in cereal and grain crops across the globe. Biostimulants offer better germination and root development. This, in turn, increases the crop yield. Demand for organic products has been rising among consumers. This is estimated to boost the demand for biostimulants during the forecast period.
Key Regional Highlights
- Based on region, the global biostimulants market has been classified into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America. Europe dominated the global market in 2018. This trend is estimated to continue during the forecast period also. The region is projected to create lucrative opportunities for the biostimulants market in the near future. Implementation of stringent regulations on the approval of agrochemicals in Europe, led by harmful effects of chemical-based agro products; and increase in demand for organic food are expected to boost the demand for biostimulants in Europe between 2019 and 2027. Germany is likely to lead the biostimulants market in Europe, followed by France and Italy, during the forecast period. The fruits & vegetables segment is projected to be a major consumer of biostimulants in Europe in the next few years.
Biostimulants Market: Competition Landscape
- The global biostimulants market is fragmented. Large numbers of small- and medium-scale local suppliers of biostimulants operate in the market. Key players operating in the global biostimulants market include
- Novozymes A/S
- Valagro SpA
- Isagro S.p.A.
- Biolchim SPA
- Premier Tech Ltd.
- Agriculture Solutions Inc.
- West Coast Marine Bio-Processing, Corp.
- Italpollina S.p.A
- Koppert Biological Systems
- Kelp Products International
- Haifa Group.
Biostimulants Market – Scope of the Report
Transparency Market Research’s recent report on the biostimulants market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the biostimulants market analyzes the scenario for the period of 2019 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the biostimulants market also provides data on the developments made by important players and stakeholders in the market, along with competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape.
This study also discusses the underlying trends and the impact of various factors that are driving the biostimulants market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Forces analysis, PEST analysis, biostimulants system process, and regulatory scenario of the biostimulants market in order to elaborate the crucial growth tactics and opportunities for players contributing to the market.
Key Questions Answered in Biostimulants Market Report
- How much revenue is the biostimulants market expected to generate by the end of the forecast period?
- Which region currently accounts for the maximum share of the global biostimulants market?
- What are the indicators expected to drive the biostimulants market?
- Which region is likely to be highly lucrative during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the biostimulants market to expand their geographical presence?
- What are the major advancements in the biostimulants market?
This report answers these questions about the biostimulants market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Biostimulants Market: Research Methodology
This TMR report on the biostimulants market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competitive scenario of the biostimulants market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the biostimulants market arrived at predictions and estimations, and calculated the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers of the biostimulants market, with both the bottom-up and top-down approaches.
This detailed assessment of the biostimulants market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the biostimulants market is set to grow are based on carefully vetted primary and secondary sources.
Biostimulants Market: Segmentation
This report on the biostimulants market provides information based on product, application, and region.
Humic Acids & Fulvic Acids
Biorationals (including Minerals)
Oilseeds & Pulses
Cereals & Grains
Fruits & Vegetables
Middle East & Africa