The global biostimulants market was valued at USD 3.5 billion in 2022 and is projected to reach USD 6.2 billion by 2027, growing at a CAGR of 11.8% from 2022 to 2027. Food and agricultural production systems worldwide are facing unprecedented challenges, from the increasing demand for food for a growing population to rising hunger and malnutrition, adverse climate change effects, overexploitation of natural resources, loss of biodiversity, and food loss and waste. These challenges can undermine the world’s capacity to meet its food needs now and in the future.

Europe accounted for the largest share of the biostimulants market in 2021. An increase in land degradation, the need for quality parameters, and the need for high product yield have strengthened the demand of European regulatory authorities for clean and sustainable input solutions. The concept of organic production has also gained popularity among farmers and consumers in the last decade. The need for organic products, such as biostimulants, has seen a rising trend in the EU. This has boosted various European biostimulant companies expansion of their global networks to reach the untapped market. The region has also launched the ‘European Green Deal’ initiative, which aims to expand the use of sustainable practices, such as precision agriculture, organic farming, agroecology, agroforestry, and stricter animal welfare standards. The new ‘Farm to Fork’ Strategy aims at reducing the environmental and climate footprint of the EU food system, strengthening its resilience, ensuring food security, facilitating the transition toward competitive sustainability from farm to fork, and making use of new business opportunities.

What is biostimulants?

Biostimulants are substances or microorganisms applied to plants, seeds, or the soil to enhance nutrient uptake, tolerance to stress, growth, and overall plant health. They’re not traditional fertilizers, as they don’t supply nutrients directly to plants. Instead, they improve the plant’s ability to absorb nutrients, withstand environmental stresses like drought or disease, and promote root development. Biostimulants can be derived from various sources such as seaweed extracts, amino acids, beneficial microbes, and humic acids. They’re becoming increasingly popular in agriculture due to their potential to improve crop productivity and reduce the need for chemical inputs.

Biostimulants Market Growth Drivers

• Rising Emphasis on Sustainable Agriculture: Biostimulants play a crucial role in promoting sustainable farming practices. As there is a growing global emphasis on environmentally friendly and sustainable agriculture, farmers are increasingly adopting biostimulants to enhance crop productivity without relying heavily on synthetic chemicals.
• Increasing Awareness of Environmental Impact: With a heightened awareness of the environmental impact of traditional farming practices, there is a shift towards more eco-friendly alternatives. Biostimulants, being derived from natural sources, are perceived as a greener option, appealing to environmentally conscious farmers and consumers.
• Government Support and Regulations: Many governments are recognizing the importance of sustainable agriculture and are implementing regulations and policies to promote the use of biostimulants. Financial incentives, subsidies, and supportive regulatory frameworks are encouraging farmers to integrate biostimulants into their crop management practices.
• Advancements in Biotechnology: Ongoing advancements in biotechnology have led to the development of innovative biostimulant products with enhanced efficacy. The continuous research and development efforts in this field contribute to the expansion of the biostimulants market by providing farmers with more effective and specialized solutions.
• Growing Demand for Organic Products: The increasing consumer preference for organic and naturally derived products is boosting the demand for biostimulants. As these products align with organic farming practices, they are becoming integral to organic crop production, further driving market growth.

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Top Key Players in the Biostimulants Market

• BASF SE (Germany)
• AgriTecno (Spain)
• Koppert (US)
• Gowan Company (US)
• FMC Corporation (U.S)
• Rallis India Limited (India)
• Haifa Group (Israel)
• Trade Corporation International (US)
• Biovert S.L (Spain)
• Adama Ltd. (Israel)
• BASF SE (Germany)
• UPL Limited (India)

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