Plant Biostimulators Market Size, Share, Growth, and Industry Analysis, Segmentation By Type (Humic and Fulvic Acids, Plant Extract Biostimulants, Hydrolysed Proteins, Micro Organism and Others), By Application (Fruits & Vegetables, Turf & Ornamentals, Row Crops and Others) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

PLANT BIOSTIMULATORS MARKET REPORT OVERVIEW

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The global plant biostimulators market size was USD 147.2 million in 2022 and will touch USD 203 million by 2028, exhibiting a CAGR of 5.5% during the forecast period.

Biostimulants also termed as plant conditioners or bioeffectors are substances, cultures of micro-organism, and mixtures of materials used to promote the growth of crop plants and can include natural or artificial plant growth regulators and biofertilizers. They do not include pesticides or fertilizers. The concept has been developed on the basis of the idea that plants are not isolated entities but are grow within a complex ecosystem involving interactions with multiple organisms and that the strengths of these associations can be modified to enhance plant growth. The definitions vary but an attempted standard definition includes the statement that they are “a formulated product of biological origin that improves plant productivity as a consequence of the novel or emergent properties of the complex of constituents, and not as a sole consequence of the presence of known essential plant nutrients, plant growth regulators, or plant protective compounds.

COVID-19 Impact: Adhering to the Strict Government Foot Restrictions and Lockdowns Caused in the Less Agricultural Activities and Retarded the market Growth

The global COVID-19 has been an unprecedented and staggering, with market experiencing lower-than-anticipated demand across all the regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

With the foot restrictions and the lockdown prevailing in every parts of the world the market faced a downturn in the global economy and the impact largely in the agricultural areas by disrupted supply chain and low production.Thus the plant biostimulators market too was affected negatively in the COVID-19 outbreak.

LATEST TRENDS

"Rising Need for Sustainable Agriculture to Electrode the Market Growth"

Sustainability in agriculture is these days got to be a most significant need of the agriculturists in giving nutritious nourishment for human beings and indeed protecting and keeping up the sound environment and environment of the rural areas. The crops sown by the agriculturists holds the food from the plant biostimulators and in this way reestablishes the ripeness of the soil, a plant biostimulator is crucial for the hone of maintainable farming in protecting the richness of soil and creating bigger trim yields. 

PLANT BIOSTIMULATORS MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into humic and fulvic acids, plant extract biostimulants, hydrolysed proteins, micro organism and others.

• Humic and Fulvic Acids: Much littler and more solvent plant biostimulants the fulvic acids termed superior than the humic acids, which are colossal, complex compounds and are determined from breaking down the natural matter like peat, lignite, or Leonardite.These plant biostimulators helps within the promising development of the plants and improving the soil ripeness. 

• Plant Extract Biostimulants: A wide run of bioactive compounds, such as proteins, amino acids, vitamins, and phytohormones which are exceptionally basic for the plant development are the plant extricate biostimulants that are extricated from different plants or green growth. 

• Hydrolysed Proteins: Determined from protein-rich creature or plant materials through hydrolysis are hydrolised proteins plant biostimulators and this sort are the proteins that contains bigger sum of amino acids and peptides. 

• Microorganisms: The composition of this boistimulants are different strains of organisms (like mycorrhizal parasites) or microscopic organisms (like Bacillus spp.).These sort of plant boistimulant are named as the useful parasites, microscopic organisms or other microorganisms. 

By Application

Based on application the global market can be categorized into fruits & vegetables, turf & ornamentals, row crops and others.

• Fruits and Vegetables: The plant biostimulants primarily aids to enhance the yield, quality and growth of fruits and vegetables. These stimulants combine to contribute to better flower development and fruit set, leading to increased yields. It can also improve the nutritional color, taste and content of vegetables and fruits.

• Turf and Ornamentals: The stimulants are often required to nourish the aesthetics and health of ornamental plants and turfgrass. With the development to improve overall plant health, it also it enhances root growth.

• Row Crops (Field Crops): The plant biostimulants are employed to increase the yields, nutrient retain efficiency, and tolerating the stress in row crops. The uptake of nutrients from the soil, especially in nutrient-deficient conditions is improvised by inculcating the plant biostimulants.

• Others: The special crops which includes spices, herbs,and medicinal plants are benefited from the utilization of plant biostimulants. In nurseries and greenhouse sustainable environments, the biostimulants are utilized in the growth of young plants and portray a very crucial role. To improve plant performance and nutrient uptake in soil less farming methods, biostimulants can be used.

DRIVING FACTORS

"High Agricultural Production Worldwide to Brace Up the Market Growth"

Enhancing seed germination, improving plant health, elongating roots and shoots, increasing water and nutrient uptake, frost and salt tolerance, biocontrol and resistance to phytopathogenic species, remediation of contaminated soil, and fertilization are just a few of the many benefits that seaweed-extracted biostimulant offers in agriculture. The development of the crops and the optimization of productivity will result from these aspects. The use of biostimulants to increase crop growth and production will immediately and favorably impact the state's revenue. Therefore, it is anticipated that an agricultural environment in each area would play a crucial role in propelling the worldwide biostimulant market. 

"Rising Awareness About Biostimulators to Intensify the Market Growth"

The increased need for biostimulants has accelerated consumer use of them. This is mostly due to the rising attention of researchers, businesses, and farmers who are combining these natural goods with other eco-friendly resources to guarantee higher plant quality and greater output. Overuse of chemical fertilizers has detrimental impacts on the environment as a entirety, including leaching, water contamination, loss of advantageous creepy crawlies and microorganisms, soil corrosiveness or alkalization, and diminished soil ripeness. It has been appeared that buyers like natural merchandise that are created utilizing less cruel chemical fertilizers and in a more maintainable way. Agriculturists are altering to biostimulants as a way to raise their crops more reasonably.

RESTRAINING FACTOR

"Quality Issues in the Manufacturing of Biostimulants to Hold Back the Market Growth"

The primary influence on production is the makeup of the constituents, which include chitin, chitosan, protein hydrolysates, and amino acids, among others. Numerous variables, including growth circumstances, location, season, organ, development phase, species, and variation, might have an impact on the biostimulant product's component. The target crop's response may differ in the field and surroundings as a result of changes in these variables. The amount of biostimulants in a crop varies according to a variety of factors, including changes in the environment and crop yield, which is naturally expected to impede market expansion.However, the constraints with the quality issues may restrict the worldwide plant biostimulators market growth.

PLANT BIOSTIMULATORS MARKET REGIONAL INSIGHTS

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The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Europe dominated the plant biostimulators market share globally with a revenue of almost to half.This is a result of legislation that encourage the manufacturing of more organic food, which is anticipated to propel the regional market. One of the top producers of protein crops, including field peas and beans, is Germany. It is also Europe's biggest producer of rapeseed. The cultivation of rapeseed is motivated by several uses, such as food, biofuel, and other industrial applications. In order to increase crop production, Germany has to use better fertilizers like biostimulants because indigenous supply of rapeseed cannot keep up with demand.

KEY INDUSTRY PLAYERS

"Notable Market Players Shaping the Market and Contributing in the Market Expansion"

Due to their significant market influence, major market players are essential for understanding consumer preferences and industry dynamics. Because of these big companies' extensive retail networks and online platforms, customers may easily browse through an enormous variety of clothing selections. Due to their strong global presence and well-known brand, which have also strengthened customer loyalty and confidence, product adoption has increased. 

List of Market Players Profiled

• Biolchim (Italy)
• Valagro (Italy)
• Isagro (Italy)
• SICIT Group (Italy)
• Bioiberica (Spain)
• Hello Nature (Italy)
• TIMAC AGRO (India)
• Tradecorp (India)
• Agronutrition (France)
• Koppert (The Netherlands)
• Biotech International (India)

INDUSTRIAL DEVELOPMENT

• July 2020: The company named Bharat Biotech has its manufacturing facility situated at Genome Valley, Hyderabad, India. As of July 2020, the company has over 700 employees and has a presence worldwide

REPORT COVERAGE

The research provides forecasts for future market expansion in addition to a comprehensive SWOT analysis. It examines a wide range of market classifications, potential uses, and important factors that fuel the market's expansion in order to determine how the industry develops over the next several years. By considering both historical turning points and current trends, the research offers a thorough picture of the market's components and highlights potential growth prospects.