CHICAGO, April 26, 2024 /PRNewswire/ -- The
Biostimulants Market is estimated at USD 4.3
billion in 2024 and is projected to reach USD 7.6 billion by 2029, at a CAGR of 12.0% from
2024 to 2029 according to a report published by
MarketsandMarkets™. The global biostimulants market has
witnessed remarkable growth in recent years, driven by factors Such
as growing awareness among farmers about the benefits of
biostimulants in improving crop yield, quality, and resilience to
stress factors such as drought, salinity, and disease. As more
research validates the efficacy of biostimulants, their adoption is
increasing across different crop types and regions. The increasing
demand for organic food products has fueled the expansion of
organic farming practices globally. Biostimulants play a crucial
role in organic agriculture by providing natural solutions for
nutrient management, pest control, and soil fertility enhancement,
further boosting market growth.
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By formulation type, the liquid type holds the largest share
in the biostimulants market.
The most commonly used biostimulants are humic acids, seaweed
extracts, liquid manure composting, and beneficial bacteria and
fungi. Seaweed extracts are usually available in liquid form, which
is derived through various extraction processes. Liquid manure
composting is created by mixing manure water with a blend of
proprietary materials, which feeds specific bacteria in the manure,
providing adequate conditions for microbial growth. This liquid is
then used as a biofertilizer. Biostimulants in liquid form are
usually applied through Foliar, which is one of the most commonly
used methods for applying biostimulants. The demand for liquid
biostimulants has been increasing with growing awareness about the
benefits of their application.
By mode of application, seed treatment segment grows at the
highest rate in the biostimulants market.
Seed treatment with biostimulants is a technology that helps
counteract environmental stress during sowing while improving
yield, starting from seed germination. This method is faster than
conventional breeding or plant genetic modification, making it
useful for seed treatment in countries where high temperatures
during sowing could be a limiting factor. Biostimulant seed
treatments provide a significant benefit by improving stress
tolerance in plants. These treatments stimulate stress-responsive
genes, prompting the production of protective compounds and
reinforcing antioxidant defense systems. By enhancing stress
tolerance, biostimulant seed treatments enable crops to begin the
season with a stronger ability to maintain their yield potential
from the outset.
By active ingredients type, the microbial amendments segment
is estimated to grow at the highest rate in the biostimulants
market.
Two prominent groups of microorganisms, beneficial fungi and
beneficial bacteria, play vital roles in supporting plant health
and growth. Notably, mycorrhizal fungi engage in a mutualistic
symbiosis with plant roots, colonizing them to facilitate nutrient
and water uptake from the soil through an external network of
hyphae. In exchange, the plant provides the fungi with organic
compounds and sugars. This symbiotic relationship significantly
enhances the plant's root surface area, up to 1000 times, thereby
improving its ability to absorb nutrients and water. Mycorrhizae
can be produced using either in vivo or in vitro techniques, with
the former ensuring the fungi's adaptation to soil conditions due
to their growth in natural environments. Additionally, certain
fungi, such as specific strains of Trichoderma, contribute to plant
growth and productivity by promoting root formation and
facilitating the colonization of the rhizosphere and roots by other
beneficial microorganisms.
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The European region constitutes the largest share of the
biostimulants market in terms of value.
Europe's agricultural sector
plays a significant role in occupying land, according to the
European Environment Agency. The region has many small farms that
practice intensive farming and cultivate various crops. These
factors contribute to its strong agricultural sector, making
Europe one of the leading
consumers of biostimulants. The European Biostimulants Industry
Council (EBIC) plays a pivotal role in promoting the biostimulants
sector's contribution to assisting farmers in cultivating
sufficient quantities of high-quality crops profitably, while also
employing resources efficiently. EBIC advocates for a regulatory
framework that fosters a unified European market for biostimulants
and acknowledges their role in promoting sustainable agricultural
production, driving green innovation, fostering economic growth,
and advancing other societal objectives. The utilization of
biostimulants in agriculture is rapidly gaining momentum across
Europe. Initially concentrated in
lucrative sectors such as wine-growing, horticulture, and
fruit-growing, their application is now expanding to encompass
herbaceous field crops.
Key players in this market include BASF SE (Germany), UPL (India), FMC Corporation (US), Rallies India
Limited (India), Sumitomo Chemical
Co., Ltd. (Japan), Corteva. (US),
Nufarm (Australia), Syngenta Crop
Protection AG (Switzerland), PI
Industries (India), ILSA S.p.A.
(Italy), Coromandel International
Limited (India), Haifa Group
(Israel), T.Stanes and Company
Limited (India), Gowan Company
(US), and Koppert (The
Netherlands).
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