As per the report published by The Brainy Insights, the global biostimulants market is expected to grow from USD 3.13 billion in 2022 to USD 7.63 billion by 2030, at a CAGR of 11.80% during the forecast period 2022-2030. Europe region emerged as the largest market for the global biostimulants market with a 34.17% share of the market revenue in 2022. Europe currently dominates the biostimulants market due to Europe has been the leader in developing a legislative and regulatory framework for biostimulants. European Union’s strict environmental protection and support for organic farming have improved the way for a thriving biostimulant market in European countries like Italy, the UK, Spain, France, and Germany. As Per the (EBIC) European Biostimulant Industry Council, biostimulants are described as products including substances and microorganisms whose function, when applied to plants or the rhizosphere, is to promote natural processes to enhance crop quality, nutrient efficiency, nutrient intake, tolerance, and abiotic stress.
Leading companies in the industry include Valagro SpA, Sapec Agro S.A., Platform Specialty Products Corp., Novozymes A/S, Koppert B.V., Italpollina SAP, Isagro Group, Biostadt India Ltd., Biolchim SpA, BASF SE,
The crop type segment of biostimulants market is divided into ornamentals, cereals, turf, and fruits & vegetables. The fruits & vegetables segment of biostimulants market dominated the overall market share, with a market share of around 28.5% in 2022. The active ingredient segment of biostimulants market is divided into microbial amendments, seaweed extracts, amino acids, and humic substances. The amino acids segment of biostimulants market dominated the market, with a market share of around 25.4% in 2022. The application method type segment is divided into soil, seed, and foliar. The foliar segment dominated the market, with a market share of around 33.4% in 2022.
Businesses in the biostimulants market are struggling to comprehend the COVID-19 pandemic’s effect on stocks to handle production volumes and adjust production levels to the changing need in particular regions. Manufacturers are changing their supply ways to ensure the supply of end-user goods or intermediates. Manufacturers in the biostimulants market directly concentrate on handling stocks and flow with increased flexibility to improve stability against the challenges of the pandemic. They are focusing on critical areas like manufacturing agricultural biostimulants to make cereals & grains, oilseeds & pulses, and fruits & vegetables. Companies are acquiring mid and long-term business processes to adapt to potential trends in the future.