The latest report by Reports and Data projects that the Agricultural Biostimulants Market will reach a size of USD 8,166.0 Million by 2030, with a revenue compound annual growth rate (CAGR) of 11.2% during the forecast period. The rapid growth of the market is attributed to factors such as the increasing demand for sustainable agriculture and the easy availability of seaweeds as raw materials. However, the market's revenue growth may be hindered by the commercialization of low-quality biostimulant products.
Agricultural biostimulants refer to fertilizer additives and similar products derived from biological or biologically sourced materials. They are used in crop production to supplement existing agricultural practices and enhance crop outputs. These biostimulants can improve nutrient-use efficiency, enabling plants to withstand abiotic stresses such as heat, cold, drought, and excessive water. They also enhance the quality attributes of crops, including nutritional content, appearance, and shelf-life.
The agricultural sector faces challenges of increasing productivity to feed a growing global population while ensuring resource efficiency and minimizing environmental and health impacts. Fertilizers and pesticides play a crucial role in agriculture, but reducing the use of synthetic agrochemicals is important for sustainability. Natural plant biostimulants offer benefits such as improving tolerance to various stresses, enhancing plant growth, and increasing nutrient use efficiency.
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Numerous agricultural companies are actively developing biostimulants derived from diverse communities of microorganisms and their biochemical byproducts to improve crop health and nutrition. Extensive scientific research is focused on developing biostimulants and biological products to enhance plant nutrition performance, increase productivity, and promote sustainability in farming practices.
Key highlights from the report include:
- Among the active ingredient segments, amino acids accounted for the largest revenue share in 2021 and are expected to register a faster revenue CAGR during the forecast period. Amino acids activate seed germination and metabolic systems in plants, stimulate fruit development and flowering, and enhance crop productivity under stressful environmental conditions. Amino acids also improve plant tolerance to abiotic stresses like salinity, drought, temperature, and oxidative conditions.
- In the application segment, foliar treatment held the largest revenue share in 2021. The increasing need to supply micronutrients during the early stages of growth drives the usage of foliar spray applications. This method allows plants to rapidly absorb micronutrients as they are directly applied to leaves, leading to enhanced cellular activity, plant growth, and nutrient uptake.
- North America dominated the Agricultural Biostimulants Market in 2021, primarily due to the rapid growth of organic farming in the region. Supportive government initiatives and research and development activities have encouraged the use of agricultural biostimulants in the agriculture sector. The market in this region is driven by the increasing importance of sustainable agriculture and the development of innovative products to address specific agronomic needs.
- In January 2022, UPL Ltd. and other shareholders in Sinagro Produtos Agropecuarios SA, Brazil, announced an agreement in which Bunge Ltd. would acquire a 33% stake in Sinagro. This strategic move strengthens the partnership with Bunge, enabling mutual benefits and enhancing opportunities in the grain market for sustainable and traceable production.
- Some of the key companies profiled in the global market report include FMC Corporation, BASF SE, UPL Limited, Agricen, Marrone Bio Innovation, Biolchim SpA, Valagro SpA, Biostadt India Limited, Andermatt Biocontrol AG, Koppert B.V., and Micromix Plant Health Ltd.
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