Biostimulants Market by Active Ingredient (Humic Substances, Amino Acids, Seaweed Extracts, and Microbial Amendments), Mode of Application (Foliar, Soil Treatment, and Seed Treatment), Form (Liquid and Dry), Crop Type and Region - Global Forecast to 2027

Northbrook, IL 60062 -- (SBWire) -- 11/12/2023 --In a recent report titled "Biostimulants Market by Active Ingredient, Mode of Application, Form, Crop Type, and Region - Global Forecast to 2027," MarketsandMarkets estimates the global biostimulant market to be valued at USD 3.5 billion in 2022, with a projected growth to USD 6.2 billion by 2027, recording a compelling CAGR of 11.8% during the forecast period.

Download PDF Brochure

Disasters' Impact on Agriculture and Market Growth:

The report emphasizes the direct impact of disasters on agriculture, leading to lower-than-expected production and economic losses for farmers. Between 2008 and 2018, billions of dollars were lost globally due to a decline in crop and livestock production. Droughts, floods, and pest-related issues accounted for significant losses. The study underscores the interconnection between agriculture, climate change, and the development of biotic and abiotic stress, influencing the adoption of biostimulant products.

Foliar Spray Application Driving Market Growth:

The foliar spray application method emerges as the most popular and efficient in maximizing plant growth. Biostimulants applied through foliar spray directly on leaves enhance the effect of bioactive molecules, improving nutrient absorption and uptake. This method proves advantageous when soil conditions are unfavorable, reducing the quantity of required fertilizers and mitigating fixation and leaching risks.

Untapped Potential of Seaweed-Based Biostimulants:

While humic substances, amino acids, and microbial amendments dominate the biostimulant market, seaweed-based biostimulants represent a relatively untapped and small segment. Seaweed extracts contribute significantly to soil fertility, soil structure improvement, and increased crop productivity under various environmental conditions. Seaweed's role in organic farming, along with its bio-stimulatory effects, positions it as a key component for yield maximization in crop plants.

Key Player Spotlight - FMC Corporation:

FMC Corporation, a major player in the biostimulant market, has diversified its product portfolio to provide solutions in crop protection, plant health, and pest management. Following the acquisition of DuPont's crop protection business, FMC Corporation introduced a new brand identity, "Biologicals by FMC," consolidating its offerings in biostimulants, bio fungicides, and other plant health products.

Make an Inquiry

Regional Growth Outlook - Asia Pacific:

The Asia Pacific region is poised to grow at a CAGR of 12.5% during the forecast period. With approximately 170 million hectares of global agricultural land in 2020, the region's economic growth heavily relies on agriculture. Facing challenges from extreme weather conditions and changes in soil structure, Asia Pacific is increasingly adopting sustainable farming practices, driving the demand for biostimulants, particularly in fruits and vegetables.

Conclusion:

The biostimulant market's evolution is marked by the recognition of disaster-induced challenges in agriculture, the preference for foliar spray applications, the exploration of seaweed-based biostimulants, and the strategic initiatives of key players like FMC Corporation. With a strong growth forecast, the global biostimulants market is positioned for dynamic expansion, driven by innovative applications and a focus on sustainable agricultural practices.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441