Yahoo Finance Global Biostimulants Market to Reach $5.8 Billion by 2028 | Bayer AG, BASF SE, DuPont Pioneer, and Syngenta AG Hold 38% Market Share | Vantage Market Research
WASHINGTON, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The global biostimulants market was valued at 3.0 billion in 2021 and is projected to attain a value of USD 5.8 billion by 2028 at a CAGR of 11.9% during the forecast period, 2022–2028.
The biostimulants market is quickly becoming popular in agriculture because they help to improve crop yields and increase food security. They also help to protect crops from diseases and pests. Biostimulants are ingredients that improve the growth of plants by boosting their natural abilities to resist or overcome environmental stressors, such as heat, drought, cold, or pests. Some biostimulants are also used to enhance the nutritional content and stability of crops.
The most common use for biostimulants is in agriculture. Major seed companies, agricultural input dealers, agronomists, crop consultants, farm-level machinery dealers, and fertilizer companies in the global biostimulants market all make biostimulant products available for purchase. Today, this technology is being applied to a range of crops - grains (corn and sorghum), legumes (chickpeas and lentils), oilseed rape (canola), vegetables including leafy greens (kale and collard greens), fruits (apricot), and tree nuts (almonds and hazelnuts).
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Key Challenges in Biostimulants Market
With each passing day, a large number of farmers are looking to use biostimulants in order to improve their crops. However, there are a few challenges that need to be dealt with in order to make biostimulants work well.
One challenge in the global biostimulants market is that biostimulants need to be effective at a wide range of doses. If they are not, they may only have a minimal impact on the crop overall. Additionally, biostimulants need to be durable and resistant to wear and tear. If they are not, they will likely not last long enough for the entire application period.
Another challenge is that biostimulants need to be compatible with other pesticides and inputs. If they are not, they may interfere with or even cancel out the effects of other applications. Additionally, biostimulants need to be effective in both rural and urban areas. If they are not, they may not reach all the areas where they are needed most.
Combating harmful side effects. Biostimulants market can have unforeseen consequences when they're sprayed or absorbed into plant tissues. Dozens of different compounds have been identified as possible troublemakers, including herbicides, pesticide residues, and even stress hormones. Commercial producers are now spending millions of dollars each year to find and neutralize these toxins before they harm crops or people.
Growing Efforts to Develop Biostimulants to Reduce Need for Fertilizers
This growth in demand for the biostimulants market might just be the key to improving the sustainability of fertilizers. Biostimulants help plants use more of their own food, reducing the need for external inputs like fertilizer. Not only do they cut down on pollution and greenhouse gas emissions, but they also create jobs in the agricultural industry.
In some cases, biostimulants can even improve crop yields by up to 30%. Growing demand for the biostimulants market has already led to a decline in the production of nitrogen-based fertilizers. This technology is resource-intensive and generates large amounts of greenhouse gas emissions, so there's a growing interest in finding alternatives. Recently, Evonik, a key player in the global biostimulants market, has developed a biostimulant that can reduce the consumption of fertilizer by 50%. The company is aiming to launch the product by the end of 2025. The company has developed and optimized the product to keep the crop yield at 93%, which is significantly higher compared to other alternatives.
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Guarana is another potential product in the global biostimulants market. Guarana is a shrubby tree that grows in the Amazon rainforest. The tree produces a fruit that is noted for its stimulant properties. To date, most of the research on guarana has been focused on its potential as a Dietary Supplement.
However, recent studies suggest that guarana may also be effective in reducing nitrogen oxide emissions from traffic (due to its anti-inflammatory properties) and in reducing fertilizer use in agriculture. In fact, one study found that, on average, a hectare of crops grown with guarana resulted in 34% lesser nitrogen oxide emission than when crops were grown without it.
Bayer AG, BASF SE, DuPont Pioneer, and Syngenta AG Hold 38% Share of Global Biostimulants Market
Bayer AG, BASF SE, DuPont Pioneer, and Syngenta AG are the top 4 producers of biostimulants in the world. They produce more than 38% of the global market for biostimulants.
Bayer AG is the leading producer in the Europe biostimulants market. BASF SE is the leading producer of biostimulants in the world's largest economy, China. DuPont Pioneer is the leading producer of biostimulants in America. Syngenta AG is the leading producer of biostimulants in Switzerland.
Bayer has been the world's leading producer of agricultural biostimulants for more than five decades now. The company's portfolio includes more than 50 types of biostimulants, which are used to boost crop growth, increase efficiency in food production, improve soil health and protect against insect pests and disease. Bayer's ongoing dedication to developing new biostimulants has resulted in them becoming one of the leading producers of this type of product.
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US, France, and Israel are the Top Producers and Exporters of Biostimulants
Biostimulants are a type of agricultural product that helps increase crop production. The three countries that produce and export the most biostimulants are the United States, France, and Israel. Each country has its own unique reason for producing these products in the biostimulants market.
The United States produces biostimulants because it is an important part of its economy. Biostimulants are used in a variety of crops, including corn, soybeans, wheat, and cotton. The use of biostimulants has helped to improve crop production and increased the availability of food in the country.
France produces biostimulants to fight climate change and focuses more on sustainable farming to avoid the use of fertilizers. Vantage found that country is making every possible effort to reduce the number of emissions that are created by crops. This will help to reduce the number of greenhouse gases that are released into the atmosphere. At the same time, it has been witnessing a significant surge in demand for the domestic as well as international market. The country exported over 16.2 million gallons of biostimulants to other nations in the year 2020 and 2021.
Biostimulants production in Israel's biostimulants market is primarily driven by the growing efforts of the local government to help farmers grow more food with less input. They believe that by using biostimulants, they can create crops that are resistant to pests and diseases. This will allow farmers to produce more crops without having to spend money on inputs like pesticides and insecticides.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Biostimulants Market Size, Share & Trends Analysis Report by Active Ingredients (Humic Substances, Humic Acid, Fulvic Acid, Seaweed Extracts, Microbial Amendments, Amino Acids, and Other Active Ingredients (including Vitamins, Trace Minerals, & Polysaccharides), by Mode of Application (Foliar, Soil Treatment, Seed Treatment), by Form (Liquid, Dry), by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turfs & Ornamentals, Others (Forage and Plantation Crops), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Top Players in the Global Biostimulants Market
BASF SE
UPL
Valagro S.P.A
Gowan Company
FMC Corporation
ILSA S.P.A.
Rallis India Limited
Haifa Group
ADAMA LTD
Biovert S.L.
Koppert Biological Systems
Tradecorp International
Agritecno
Axeb Biotech SL
Mafa Bioscience
Lawrieco
Devi Crop Science
Bioflora Agricen
Bonumose Inc.
Key Questions Answered in The Report:
Which region will show the fastest and highest growth in the near future?
Which are the top five players and their weakness and strength of the Market?
What will be the future innovation in the upcoming six years?
Which application and product will lead the largest share of the Market?
What are the growth drivers, restraints and challenges of the industry?
What will be the CAGR and size of the Biostimulants Market for the base year and forecast period?
This market titled “Biostimulants Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Parameter | Details |
Market Size Provided for Years | 2016-2028 |
Base Year | 2021 |
Historic Years | 2016-2020 |
Forecast Years | 2022-2028 |
Segments Covered | • Active Ingredients |
Region & Counties Covered | • North America |
Companies Covered | • BASF SE |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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Top Companies in Biostimulants Market | Industry Top Key Players Market Insights, Growth Analysis, Strategies.
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