The global Agricultural Biostimulants Market size is expected to reach USD 7.00 Billion in 2028 and register a revenue CAGR of 11.8% over the forecast period, according to a latest report by Reports and Data. Rising awareness regarding better plant health and nutrition is expected to drive market revenue growth during the forecast period. Ability of agricultural biostimulants to minimize the need for fertilizers and increase plant growth and resistance to abiotic stresses and water is boosting application of agricultural biostimulants. Agricultural biostimulants are efficient in small concentrations favoring good performance of the vital processes of plant and allowing cultivation of good quality products and high grain, fruit, and vegetable yield.
Agricultural biostimulants contribute to sustainable, high-output, low-input crop production. Eco-friendliness and enhanced performance efficiency of agricultural biostimulants is resulting in its increasing usage as an effective substitute for chemical-based agricultural products. Government of various countries is taking initiatives in order to increase sustainable agricultural practices, which is projected to augment the usage of agricultural biostimulants. Farmers are increasingly utilizing bio-based agro products in order to meet growing consumer demand for healthy food products and minimal environmental impact.
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Some major companies operating in the market include BASF SE, Valagro, Bayer AG, Isagro, HELLO NATURE, Syngenta, FMC Corporation, UPL Limited, Biolchim,
Some Key Highlights From the Report
In March 2019, SICIT strengthened its partnership with Bayer on biostimulants. The company collaborated with reference to two products for the global market: Bayfolan Cobre and Ambition. The collaboration between the two companies guaranteed Bayer worldwide distribution of Bayfolan Cobre and Bayfolan Aktivator for foliar use in various crops as well as the development of formulation based on some well-known SICIT technologies in the treatment of amino acids and peptides of animal origin. The biostimulants are expected to strengthen Bayer’s portfolio of crop protection products.
Acid-based segment is expected to account for largest revenue share in the global agricultural biostimulants market over the forecast period owing to rising need to boost plant and root growth and enhance soil quality. Increasing usage of acid-based agricultural biostimulants in various vegetables, fruits, and crops is expected to drive revenue growth of this segment during the forecast period.
Foliar segment is expected to account for a considerably large revenue share in the global agricultural biostimulants market owing to rising need to supply micronutrients to plants. Foliar application of agricultural biostimulants increases growth and enhances nutrient intake in plants.
The agricultural biostimulants market in Europe is expected to account for largest revenue share over the forecast period. Increasing investment by major companies such as BASF SE, Valagro, Bayer AG, and Isagro for development of new innovative products targeting specific agronomic needs is projected to boost market growth.
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For the purpose of this report, Reports and Data has segmented the global agricultural biostimulants market based on type, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Acid-based
Extract-based
Others
Application Outlook (Revenue, USD Billion; 2018-2028)
Soil
Foliar
Seed
Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
Europe
Asia Pacific
Latin America
MEA
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