The global biostimulants market was valued at USD 2.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This growth can be attributed to the increasing demand for biostimulants across various agricultural applications, including seed, soil, and foliar treatments. Biostimulants are organic fertilizers designed to enhance plant growth and development. They are used throughout the plant’s life cycle—from seed germination to maturity—by promoting growth and improving productivity. Additionally, these fertilizers encourage the activity of beneficial soil microbes, which aid in nutrient transfer, assimilation, and usage, thereby improving soil fertility and plant health.
As the global agricultural sector increasingly embraces more sustainable and eco-friendly practices, the demand for biostimulants, which are organic and promote healthier plant growth without harmful chemicals, has risen. This trend aligns with the growing preference for organic foods, which are perceived to offer higher nutritional value, reduced pesticide residue, and fewer toxins harmful to human health. The increasing popularity of organic fruits and vegetables has driven a significant rise in demand, further supporting the growth of biostimulants. The global push toward organic farming is expected to accelerate over the forecast period, particularly in developing economies, where the adoption of organic farming practices is growing rapidly. This, in turn, is anticipated to boost the demand for biostimulants.
Gather more insights about the market drivers, restrains and growth of the Biostimulants Market
Crop Type Segmentation Insights
In 2022, row crops and cereals dominated the biostimulants market, accounting for more than 61.0% of the revenue share. This large share is largely driven by the increasing global demand for commodity crops such as cotton, oats, barley, millets, and soybeans. These crops are grown over large areas, and biostimulants help enhance the overall productivity and yield of these crops. Biostimulants are especially useful for improving seed size, cell division, and the overall yield of row crops like corn, barley, and soybean. These biostimulants typically contain beneficial compounds such as polyamines, Indole-3-acetic acid (IAA), and amino acids, which help plants overcome barriers to cell expansion and division, ultimately contributing to better growth and higher crop yields.
For instance, corn and soybeans, which are staple crops in many parts of the world, can experience enhanced growth rates and productivity with the application of biostimulants. These crops, which occupy vast land areas globally, are expected to continue driving the market for biostimulants, as the agricultural industry seeks ways to increase yield while maintaining sustainable practices.
In addition to row crops, biostimulants are also crucial for vegetable cultivation, where they support root development, fruiting, and stem formation. Crops like tomatoes, potatoes, peppers, melons, and squash benefit from biostimulants, which boost overall plant health and productivity. For example, potatoes are one of the most consumed vegetables in North America, particularly in the U.S. and Canada, where biostimulants are applied to improve root and tuber development, ultimately increasing yields. Other key fruits and vegetables such as carrots, lettuce, broccoli, onions, apples, blueberries, grapes, and cranberries are also produced in large quantities, particularly in regions like Canada, where the use of biostimulants is growing due to their ability to increase crop quality and yield.
The turf and ornamental segment also held the second-largest market share in the crop type segmentation in 2022. Biostimulants play an important role in turfgrass management, where they are used to enhance the health and appearance of lawns, sports fields, and golf courses. By improving root development, nutrient uptake, color, and overall turf quality, biostimulants help maintain vibrant, healthy turfgrass. Seaweed extracts and humic acid, two commonly used biostimulants in turf management, contain auxins and cytokinins, which promote root and shoot development. These products are particularly valuable for sports turf, where high-quality grass is essential for maintaining the performance and aesthetic appeal of fields. The growth of sports turf applications, particularly in regions with a strong sports culture, continues to fuel demand for biostimulants in the turf management industry.
Market Outlook
As global agricultural practices continue to evolve towards more sustainable and environmentally-friendly solutions, the biostimulants market is well-positioned for robust growth. The increasing adoption of organic farming practices, the rising demand for healthier, toxin-free food, and the need for more efficient agricultural practices are all expected to drive the demand for biostimulants over the forecast period. The market for biostimulants is also supported by the rising awareness of their benefits, not just in traditional agriculture but also in turf management and horticulture, where they can enhance both the health and aesthetics of plants.
With increasing demand for more sustainable agricultural practices and the growing emphasis on reducing the environmental footprint of farming, biostimulants are set to play an integral role in the agricultural industry’s efforts to achieve higher crop yields, better soil health, and improved crop quality. This market is poised to expand significantly, with row crops, cereals, and turf and ornamental plants driving much of the growth over the next several years.
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