Growing Demand for Sustainable Agriculture Boosts Agricultural Biostimulants Market

Rising demand for sustainable agriculture and increasing need for high-quality crops are key factors driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2024 /EINPresswire.com/ -- The global agricultural biostimulants market size was USD 3.44 Billion in 2022 and is expected to register a rapid revenue CAGR of 11.2% during the forecast period. The increasing need for sustainable agricultural practices and high-quality crops is driving the growth of the agricultural biostimulants market. Biostimulants, which are biologically produced fertilizers, play a crucial role in enhancing plant development and productivity throughout the crop life cycle. These products offer an eco-friendly alternative to synthetic fertilizers, aligning with the goals of modern agriculture to improve crop yields, ensure food security, and preserve soil quality and biodiversity.

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Key Market Drivers

A significant driver of market growth is the rising use of seaweeds as raw materials for biostimulants. Seaweeds, or marine algae, are rich in essential nutrients and growth hormones that enhance soil quality and crop yields. They are superior to chemical fertilizers due to their high organic content, which helps maintain soil moisture and mineral balance. Seaweed-based fertilizers have shown remarkable results in improving the yields of various crops, including sweet corn, tomatoes, and peanuts.

Challenges in the Market

Despite the benefits, the agricultural biostimulants market faces challenges due to inadequate regulatory frameworks. The lack of clear regulations has led to the proliferation of substandard products, undermining farmers' trust in biostimulants. In the U.S., biostimulants are categorized under existing regulations, whereas the European Union has stringent quality standards. India also emphasizes precise specifications and testing procedures to prevent false claims. Developing a robust regulatory framework will enhance product quality and foster greater investment in research and development.

Emerging Trends

Technological advancements in biostimulant production are shaping market trends. Various techniques, such as cultivation, extraction, and fermentation, are used to produce biostimulants. These methods can significantly influence the final product's composition and effectiveness. For instance, seaweed extracts, commonly used in commercial biostimulants, vary in content and efficiency despite being derived from the same species. This variation highlights the need for standardized production processes to maximize the biological benefits of biostimulants.

Market Segmentation Insights

Active Ingredients: The global agricultural biostimulants market is segmented based on active ingredients, including humic substances, seaweed extracts, microbial amendments, and amino acids. Amino acids are the largest segment due to their role in enhancing plants' resistance to environmental stressors. Seaweed extracts are also gaining traction for their ability to improve biomass yield and crop quality.

Crop Types: The market is segmented by crop types such as fruits and vegetables, cereals and grains, turf and ornamentals, and oilseeds and pulses. Fruits and vegetables hold a significant market share due to the demand for high-quality, sustainable produce. Biostimulants are crucial in improving the physiological and morphological characteristics of fruit crops, enhancing yield and quality.

Applications: The market is divided into soil treatment, seed treatment, and foliar treatment. Foliar treatment, which involves applying biostimulants directly to plant leaves, dominates the market. This method is effective in providing micronutrients and improving photosynthesis and nutrient uptake. Seed treatment is expected to grow rapidly, driven by the need for high-quality seeds that can withstand environmental stressors.

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Agricultural Biostimulants Top Companies and Competitive Landscape

The global agricultural biostimulants market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective agricultural biostimulants solutions.

Some major players included in the global agricultural biostimulants market report are:

Marrone Bio Innovations, Inc.

Biolchim S.p.A.

Valagro SpA

Novozymes

Bayer AG

Koppert

Atlántica Agrícola

Verdesian Life Sciences

Seipasa

FMC Corporation

Haifa Negev technologies LTD

AmHydro

Chawla Fire Protection Engineer Pvt. Ltd.

Bioiberica S.A.U

Agricen

Nutri-Tech Solutions Pty Ltd.

Agrinos

Micromix Plant Health (MPH)

Manvert

Dora Agri-Tech

Agricultural Biostimulants Latest Industry News

On 22 June 2022, FMC Corporation announced the launch of Biologicals by FMC, a new brand image for its Plant Health division, which reflects the company’s ongoing development and growth of its biologicals platform. Biologicals by FMC illustrates FMC's dedication to offering farmers biological solutions that are backed by science to manage crops sustainably, protect yields, and combat resistance. The addition of biologicals extends the usefulness of current chemistry by introducing new modes of action.

In September 2022, Biolchim announced its partnership with Huber Corporation, which has taken a majority stake. Through this partnership, both businesses aimed to increase their global footprint and customer service while using each other's complementary capabilities and domain-specific expertise in the biostimulant market. The Biolchim Group is expected to play a significant role in defining the strategy framework of the Huber AgroSolutions (HAS) business unit under HEM, along with currently existing organizations such as Miller Chemical & Fertilizer (Miller).

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Agricultural Biostimulants Market Segment Analysis

For the purpose of this report, Emergen research has segmented the global agricultural biostimulants market on the basis of active ingredient, form, crop type, application, and region:

Active Ingredient Outlook (Revenue, USD Billion; 2019-2032)

Humic Substances

Seaweed Extracts

Microbial Amendments

Amino Acids

Others

Form Outlook (Revenue, USD Billion; 2019-2032)

Liquid

Dry

Crop Type Outlook (Revenue, USD Billion; 2019-2032)

Fruits & Vegetables

Cereals & Grains

Turf & Ornamentals

Oilseeds & Pulses

Other Crops

Application Outlook (Revenue, USD Billion; 2019-2032)

Soil Treatment

Seed Treatment

Foliar Treatment

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

For more informative information, please visit us @ https://www.emergenresearch.com/industry-report/agricultural-biostimulants-market

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