Biostimulants Market Is Expected To Reach a Revenue Of USD 5.9 Bn By 2033, At 8.1% CAGR: Dimension Market Research

Biostimulants Market Is Expected To Reach a Revenue Of USD 5.9 Bn By 2033, At 8.1% CAGR: Dimension Market Research

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Biostimulants Market Increasing focus on sustainable agriculture, coupled with advancements in biotechnology, drives the market's growth in addressing global food security and environmental challenges.

New York, June 17, 2024 (GLOBE NEWSWIRE) -- *Overview*

The Global *Biostimulants Market* size is expected to reach *USD 2.9 billion* by 2024 and is further anticipated to reach *USD 5.9 billion* by 2033 at a CAGR of *8.1%*.

The biostimulants market is rapidly growing due to increasing demand for sustainable agriculture. Technological advancements and research are driving this expansion, with a projected robust CAGR.

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By 2033, the market is expected to reach unprecedented levels, driven by the adoption of biostimulants like seaweed extracts and amino acids, crucial for improving crop yield and soil health while minimizing environmental impact.

*Important Insights*

· *Market Size:* The global biostimulant market is projected to reach *USD 5.9 billion* in 2033 from a base value of *USD 2.9 billion* in 2024, at a CAGR of *8.1%*.
· *By Active Ingredient Segment Analysis:* Acid-based biostimulants are expected to hold the largest market share of *48.0%* in 2024 & are anticipated to dominate throughout the forecasted period.
· *By Crop Type Segment Analysis:* Based on the crop type, row crops & cereals are expected to be a dominant segment in the market with the largest revenue share during the forecasted period.
· *By Application Segment Analysis:* Foliar Treatment is expected to come out as a dominant force with a revenue share of *79.0%* in 2024.
· *Regional Analysis:* Europe is expected to hold *38.2%* of revenue share in the global biostimulant market in 2024.

*Latest Trends*

· *Increasing Demand for Organic Farming: *The biostimulants market is growing due to the shift towards organic farming, boosting crop yields and quality. This trend is expected to significantly increase market share by 2030.
· *Advancements in Biostimulant Formulations*: Technological innovations in biostimulants, such as advanced seaweed extracts and amino acid-based products, are enhancing efficiency and usability, driving market growth.

*Biostimulants Market: Competitive Landscape*

· The global biostimulants market, led by major players like BASF SE, Bayer AG, and Valagro, is rapidly growing due to the rising demand for sustainable agriculture and innovation in natural biostimulants such as seaweed extracts and amino acids.
· Europe holds the largest market share in the biostimulants industry, followed by North America and Asia-Pacific, with strategic partnerships and acquisitions enhancing market reach and highlighting the importance of biostimulants in improving crop yield and resilience..

*Some of the prominent market players:*

· Bayer AG
· Syngenta AG
· UPL Limited
· Gowan Group
· BASF SE
· Marrone Bio Innovations
· SEIPASA S.A
· I. Industries
· Novozymes
· Koppert Biological Systems
· Other Key Players

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*Biostimulants Market Scope** *

*Report Highlights* *Details*
Market Size (2024) USD 2.9 Bn
Forecast Value (2033) USD 5.9 Bn
CAGR (2024-2033) 8.1%
Leading Region in terms of Revenue  Share Europe
Percentage of Revenue Share by Leading Region 38.2%
Historical Data 2017 - 2022
Forecast Data 2025 – 2033
Base Year 2023
Estimate Year 2024
Segments Covered By Form, By Active Ingredients, By Crop Type, By Application
Regional Coverage North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

*Growth Drivers*· *Rising Awareness about Sustainable Agriculture: *Growing eco-consciousness and adoption of sustainable farming practices are key drivers, with organic biostimulants improving soil fertility and plant growth.
· *Government Support and Subsidies:* Government initiatives and subsidies promoting biostimulants over chemical fertilizers and pesticides are encouraging farmers to adopt these products, boosting market growth.

*Restraints*

· *Expansion in Emerging Markets:* Regions like Asia, Africa, and Latin America present growth opportunities due to increasing agricultural demand and rising awareness of biostimulants.
· *Technological Innovations:* Advances in biostimulant production methods and the introduction of multifunctional biostimulants are expected to attract more customers, enhancing market growth.

*Growth Opportunities*

· *Expansion in Emerging Markets: *Regions like Asia, Africa, and Latin America present growth opportunities due to increasing agricultural demand and rising awareness of biostimulants.
· *Technological Innovations:* Advances in biostimulant production methods and the introduction of multifunctional biostimulants are expected to attract more customers, enhancing market growth.

*Market Analysis*

Acid-based biostimulants are projected to hold *48.0%* of the market share in 2024, driven by their effectiveness in enhancing nutrient uptake, root development, and plant health. Key acids like humic and fulvic improve nutrient solubility and help plants manage stress. The rising demand for sustainable practices ensures that acid-based biostimulants will significantly impact agricultural productivity and market growth.

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*Biostimulants Market Segmentation*

*By Form        *

· Liquid

· Concentrated Liquids
· Liquid Concentrates
· Soluble Liquids

· Dry

· Powders
· Granules
· Pellets

*By Active Ingredient*

· Acid Based

· Humic Acids
· Fulvic Acids
· Amino Acids

· Seaweed Extract

· Brown Algae (e.g., Ascophyllum nodosum, Sargassum)
· Red Algae
· Green Algae

· Microbial

· Bacteria
· Fungi

· Others

* By Crop Type*

· Row Crops & Cereals

· Corn
· Wheat
· Rice
· Soybean
· Barley

· Fruits & Vegetables

· Leafy Greens
· Root Vegetables
· Fruits
· Solanaceous Crops

· Turf & Ornamentals
· Others

*By Application*

· Foliar Treatment
· Soil Treatment

· Direct Soil Application
· Soil Drenches
· Fertigation Systems

· Seed Treatment

· Seed Coating
· Seed Priming
· Inoculation Techniques

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*Regional Analysis*

Europe is projected to dominates the global biostimulants market, holding *38.2%* market share in 2024, driven by high demand, supportive regulations, and EU guidelines promoting sustainable agriculture.

Key contributors like Spain, Italy, and France utilize seaweed and amino acid-based biostimulants. Advanced R&D and a shift towards eco-friendly farming practices further bolster market growth and regional dominance.

*By Region*

*North America*

· The U.S.
· Canada

*Europe*

· Germany
· The U.K.
· France
· Italy
· Russia
· Spain
· Benelux
· Nordic
· Rest of Europe

*Asia-Pacific*

· China
· Japan
· South Korea
· India
· ANZ
· ASEAN
· Rest of Asia-Pacific

*Latin America*

· Brazil
· Mexico
· Argentina
· Colombia
· Rest of Latin America

*Middle East & Africa*

· Saudi Arabia
· UAE
· South Africa
· Israel
· Egypt
· Rest of MEA

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*Recent Developments in the Global Biostimulants Market*

· *May 2023:* Yara International announced a new global production plant for biostimulants and specialty crop nutrition products to boost agricultural yields and quality.
· *March 2023:* Sumitomo Chemical India Ltd. launched Promalin, a biorational product with gibberellins 4 and 7, and cytokinin 6-Benzyladenine, developed by Valent Biosciences, in Shimla, Himachal Pradesh, India.
· *January 2023:* Sumitomo Chemical Co., Ltd. acquired U.S.-based biostimulants manufacturer FBSciences Holdings, Inc., expanding its footprint in the biostimulants market significantly.
· *January 2023:* Archer Daniels Midland Company launched NeoVita 43 biostimulant to enhance corn yield through improved nutrient use efficiency, aiming at better crop productivity.
· *March 2022:* Valagro, with its subsidiary Valagro Biosciences, launched Talete in India to increase Crop Water Productivity, addressing water scarcity issues in agriculture.
· *August 2022:* BASF Venture Capital GmbH and Aqua-Spark invested USD 18.5 million in Sead Energy Pvt. Ltd., enhancing BASF’s seaweed-derived biostimulants portfolio and expanding sustainable practices.
· *June 2022:* FMC Corporation launched "Biologicals by FMC," offering over 50 biological products, including biostimulants and bionematicides, with new global biopesticide launches planned soon.
· *February 2022:* LIPOFABRIK developed Plant Boost, a Bacillus subtilis-based biostimulant authorized in Belgium, France, Spain, the Netherlands, Germany, Italy, and the U.K., enhancing plant protection.

*About Dimension Market Research (DMR)*

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