The global biostimulants market size is expected to reach USD 6.75 billion by 2028 and register a CAGR of 11.3%, according to the latest report by Reports and Data. Growing ecological concerns due to the overuse of chemical-based products in agricultural sector has increased the demand for eco-friendly biostimulants and is fueling market revenue growth.
Biostimulants are additives for crops and plants that enhance their nutritive efficiency, crop quality, and yield. They also increase stress tolerance of crops to extreme conditions such as floods, drought, or salinity. Extensive use of synthetic pesticides, scarcity of arable land, growing demand for high value-added crops, and increasing awareness about environmental impact of chemical products are some significant factors enhancing growth of the biostimulants market.
Leading Players– BASF (Germany), Isagro (Italy), Valagro (Italy), Bayer (Germany), Italpollina (Italy), Koppert Biological Systems (Netherlands), Acadian Seaplants (Canada), UPL (India), and Biolchim (Italy).
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Some key highlights in the report:
- On the basis of crop type, the cereal & grain segment is expected to contribute considerable market revenue share throughout the forecast period owing to availability of large cultivable land and increasing demand for these crops around the year. Biostimulants applied to these crops help to boost rate of cell division, improved seed size, and high yield.
- Based on active ingredients, the seaweed extract segment is expected to register a significantly robust CAGR throughout the forecast period. High revenue CAGR is attributed to increasing adoption of seaweed cultivation and growing demand for seaweed in various agricultural applications.
- On the basis of mode of application, the foliar spray treatment segment is expected to account for largest revenue share during the forecast period due to high efficiency in comparison with other application methods.
- Asia Pacific is expected to register fastest revenue CAGR between 2021 and 2028 owing to existence of large area for cultivation, rising demand for better crop quality and yield, and growing demand for organic vegetables and food.
- Europe is projected to continue its leading position in terms of revenue share during the forecast period owing to supportive regulations for organic food production along with increasing demand for organic foodstuffs.
Key Factors Driving the Global Materials & Chemicals Market Growth
The global materials & chemicals market revenue is primarily attributed to factors such as growth are fast-paced industrialization globally, rising demand for raw materials and chemicals in the buildings & construction, food & beverage, pharmaceutical, agriculture, textile, and pulp & paper industries, and increasing demand for essential consumer goods including packaged foods & beverages, household hygiene products, and personal care products & cosmetics. Increasing industrial applications of specialty chemicals, surge in demand for high-performance, organic agrochemicals, growing environmental awareness among consumers, growing need for eco-friendly and sustainable raw materials & chemicals, and increasing government investments in the materials & chemicals industry are other factors driving revenue growth of this market.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Based On Source: (Revenue, USD Billion, 2018 – 2028)
Based On Active Ingredient (Revenue, USD Billion, 2018 – 2028)
- Humic Substances
- Humic Acid
- Fulvic Acid
- Seaweed Extracts
- Microbial Amendments
- Amino Acids
- Trace minerals
Based On Crop Type (Revenue, USD Billion, 2018 – 2028)
- Cereals & Grains
- Fruits & Vegetables
- Turf & Ornamentals
- Oilseeds & Pulses
- Plantation Crops
Based On Application Method: (Revenue, USD Billion, 2018 – 2028)
- Foliar Treatment
- Soil Treatment
- Seed Treatment
Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Biostimulants market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Biostimulants market over the forecast years?
- Which are the leading players in the global Biostimulants market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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