Biostimulants Market Size was valued at USD 2973.6 Billion in 2023. The Biostimulants Market Industry is projected to grow from USD 3331.9188 billion in 2024 to USD 9622.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.18 % during the forecast period (2024 - 2032). The key factors driving the, growing demand for high-value crops and Organic agriculture are some of the vital factors contributing to its market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
There is a growing demand for high-value crops and organic agriculture as consumers become more aware of the health and environmental benefits of these products. The consumers rising awareness regarding organic farming has created lucrative growth for plant-based biostimulants. Key manufacturers in the market have started manufacturing environment-friendly biostimulants products by using natural and non-harmful materials. High-value crops are crops that are typically sold at a higher price due to their unique characteristics or attributes, such as flavor, quality, or nutritional content. These crops can include specialty fruits and vegetables, herbs, and spices, as well as niche crops like quinoa and kale. Organic agriculture refers to a production system that emphasizes the use of natural biostimulants and processes, rather than synthetic chemicals, to grow crops and raise livestock. Organic agriculture aims to promote soil health and biodiversity, reduce pollution, and minimize the negative impacts of farming on the environment. Demand for high-value crops and organic agriculture has increased in recent years as consumers become more interested in the health and environmental impacts of their food choices. In addition, the trend toward plant-based and sustainable diets has also contributed to the demand for these products. For Instance, According to FiBL, Europe's total farmland's organic area share grew from 3.1% in 2018 to 3.4% in 2020. Similarly, in Latin America, the percentage of organic farming rose from 1.1% in 2018 to 1.4% in 2020. The need for biostimulants is growing as organic food items are produced without or with less use of pesticides or fertilizers. As a result, the need for biostimulants is being driven by the rising popularity of organic farming.
The Biostimulants market segmentation, based on the active ingredient, includes humic substances, seaweed extracts, microbial amendments, amino acids, and others. The seaweed extracts segment held the majority share in 2022 contributing concerning the Biostimulants market revenue. Seaweed extracts, a natural bioactive material and are available in soluble powders or liquid form derived through various extraction processes like physical and chemical methods. Biostimulants made of seaweed extracts are majorly used in plant growth and tolerance against abiotic stresses in horticulture crops. The major variants of the biostimulants are made of green, red, and brown species of seaweed extracts and the commonly used species include Ascophyllum Nodosum, Fucus spa, Laminaria spp, Sargassum spp, and Turbinaria spp among others. The biostimulant property of seaweed extracts is attributed to the phytohormones including auxins, gibberellins, ethylene, cytokinin, and abscisic acid.
Figure 2: Biostimulants Market, by Active Ingredients, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Biostimulants market mode of application data has been bifurcated by o foliar treatment, soil treatment, and seed treatment. Foliar treatment of biostimulants is a mode of application of it over the leaves of the crops by using the liquid-based formulations. The foliar treatment is carried out by either spraying or drenching the biostimulants over the leaves and the mechanism involves the absorption of nutrients and other substance is by diffusion through cuticle, epidermal cell, and stomata of a leaf. The extent of absorption is dependent on the size and polar nature of the molecules. This has further broadened the growth opportunity for the Biostimulants industry.
Figure 2: Biostimulants Market, by Mode of Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on Crop, the Biostimulants industry has been segmented into o fruits & vegetables, cereals & grains, oilseeds & pulses, and others. The cereal & grains segment includes usage of biostimulants in crops including corn, wheat, barley, rice, etc., The seaweed extractbased biostimulants are used for the growth and productivity of rice crop, the regulators like auxins, cytokinin and gibberellins in seaweed extracts help in the development of the crop. Biostimulants help in developing drought tolerance in cereal crops and Ascophyllum nodusum seaweed extracts and amino acids are the majorly used products in cereal crops management. The oligosaccharide of seaweed extracts-based biostimulant stimulate the production of reductases which help in nutrient absorption from soil and translocation through the plant.
By Region, the study segments the market into North America, Europe, Asia-Pacific and the Rest of the World. The Europe region has become a significant player in the biostimulants market. The use of biostimulants in the European agriculture landscape is swiftly increasing and the European Commission with an aim to foster sustainable agriculture, uninterrupted supply of feed, food, and biomaterials has launched European Innovation Partnership for Agricultural Productivity and Sustainability (EIP-AGRI) in 2012. EIP-AGRI in line with the EU’s Farm-to-Fork and Biodiversity strategies carries out several activities which include inspirational ideas networks and investments in horizon projects. One of the inspirational ideas networks is regarding the testing of the three consortiums of biostimulants products by the INBIOS operational group. The testing includes biostimulants of nitrogen-fixing microorganisms for reduction of nitrogen fertilizers, micro-organisms that can induce resistance to the crop, and biocontrol agents for reduction of usage of phytosanitary products. Another test by INBIOS is of second-generation biostimulants which is a combination of mycorrhizal and hydrolyzed protein fungi for improving water stress resistance. The project has shown better results for maize crop and the group is planning to disseminate the use of biostimulants to farmers through course modules, thus helping in increasing the awareness and use of biostimulants. Further, the major countries studied are U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, and Australia.
Figure 3: Biostimulants Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North America Biostimulantss market is second of the largest regions in the Biostimulantss market. According to the World Bank data, the fertilizer price has increased more than 30% since the beginning of the year in 2022 and has seen an 80% increase during 2021 in comparison to the 2020 prices. It is expected that the US alone would witness a 12% increase in the prices of fertilizers in 2022 according to the American Farm Bureau Federation and USDA. The rising prices of fertilizers are expected to create opportunities for biostimulants products and players like Valent Biosciences are trying to capitalize on the opportunity by establishing operating unit in February 2022, which the company claims to aid in strengthening its market presence in the US.
Recent News
In November 2023, a number of the world's most popular commodities, including wheat, maize, and tomatoes, face the possibility of diminished harvests due to climate change. Agriculture is currently confronted with an unprecedented number of extreme weather events, with land experiencing the most severe temperature increases. As a response to inquiries from farmers seeking methods to enhance crop resilience and optimize nutrient utilization, Yara introduced YaraAmplix, an innovative line of biostimulants, during the Biostimulant World Congress in Milan, Italy. Over the course of the previous five years, Yara has curated an extensive range of biostimulant products, each featuring a distinct formulation and the capacity to enhance the performance and metabolism of plants. This portfolio has experienced a compound annual growth rate exceeding 50% since 2018. Additional YaraAmplix products are scheduled to be introduced in 2024, of which these will be a part. The portfolio is composed primarily of natural components, including plant extracts and seaweed, in order to achieve specific results, including increased resistance to abiotic stress, enhanced nutrient utilization efficiency, and improved crop quality and productivity. A solution for regenerative agriculture, the product considers biodiversity, prosperity, climate, soil health, and resource utilization.
UPM Biochemicals has introduced UPM Solargo, a new line of bio-based plant stimulants, in April 2024. With this introduction, UPM enters the sizable and lucrative agrochemicals market with a sustainable, cutting-edge substitute for products derived from fossil fuels. Biostimulants manufactured by UPM Solargo are an exceptionally novel approach to sustainable agriculture; they offer scientifically validated advantages for a wide array of crops grown in greenhouses and fields, while maintaining a considerably reduced environmental impact in comparison to conventional products derived from fossil fuels. They promote plant development through the enhancement of soil microbiome quality and the augmentation of water retention. In contrast to conventional fertilizers, UPM Solargo biostimulants do not supply the plant with nutrients in a direct manner. However, they enhance the plant's capacity to withstand duress, absorb nutrients, and optimize utilization. It has been demonstrated through long-term testing that UPM Solargo products increase crop yield and quality.
Major market participants are spending a lot of money on R&D to increase the range of their products, which will drive the Biostimulantss market's future expansion. Market participants are also introducing new products, signing agreements, buying businesses, raising investments, and working with other organizations to broaden their worldwide reach. To grow and survive in a more cutthroat and competitive market climate, biostimulants business competitors must provide affordable product. The biostimulants market witnessed significant growth over the last few years and is projected to register lucrative growth in the forecasted period. The major growth drivers are high-value crops and organic agriculture and growing natural method of organic farming. However, lack of awareness among farmers may limit growth. The products are expected to drive growth opportunities for players operating in the biostimulants market during the forecast period.
One of the primary business strategies adopted by manufacturers in the biostimulants industry to benefit clients and expand the Biostimulants market sector is to manufacture locally to reduce operating costs. In recent years, Biostimulants have provided enormous benefits to its consumers.
March 2022: Valagro launched its innovative bio-stimulant product Talete in India. The innovative product is a solution created to increase crop water productivity which further helps in business growth in the region.
January 2022: Bayer AG launched its bio-stimulant crop supplements formulation product named Ambition in China. This product is Bayer AG’s first Amino Acid biostimulant launched in China.
April 2022: Bayer AG increased its funds for investments in agricultural and healthcare innovations. The investment will further help the company to expand its capabilities in agriculture.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 2973.6 Billion |
| Market Size 2024 | USD 3331.9188 Billion |
| Market Size 2032 | USD 9622.5 Billion |
| Compound Annual Growth Rate (CAGR) | 14.18% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018-2021 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Active Ingredients, Mode of Application, Crop, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bayer AG (Germany), Koppert (Netherland), BASF SE (Germany), Syngenta (Switzerland), UPL Ltd (India), IsagroSpA (Italy), Valent Biosciences Corp (US), Eastman Chemical Company (US), Isagro (Italy), Valent Bioscience Corp (France) |
| Key Market Opportunities | Growing demand for biostimulant treated seeds globally |
| Key Market Dynamics | High demand for High-Value crops and organic agriculture |
Biostimulants Market Highlights:
Frequently Asked Questions (FAQ) :
Biostimulants market is pegged at USD 9622.5 Billion as of 2032.
US Biostimulants market is poised to grow at 46.07% market share during 2022.
Global Biostimulants market is poised to grow at 12.05% CAGR during 2022-2032.
Europe region held the largest market share in the global Biostimulants market and market share of 37.73% in 2022.
Bayer (Germany), Koppert (Netherlands), BASF SE (Germany), Syngenta (Switzerland), UPL Ltd (India), IsagroSpA (Italy), Valent Biosciences Corp (US), Eastman Chemical Company (US), Isagro (Italy), and Valent Bioscience Corp (France) are some of the vital players operating in the Biostimulants market.
The seaweed extracts are poised to drive the Biostimulants market, which is poised to grow at market share 39.05% during 2022-2032
Foliar Treatment is poised to hold an upper hand of Biostimulants across diverse geographies.
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Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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