Asia-Pacific BioStimulant Market is Expected to Reach the Value of USD 3880.58 million by 2029

The asia-pacific biostimulant market was valued at USD 1556.15 million in 2021 and is expected to reach the value of USD 3880.58 million by 2029, at a CAGR of 12.1% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Biostimulants are being developed to assist farmers in meeting increased agricultural demand on a long-term basis. Biostimulants increase crop yield and value, improving farm productivity. Agricultural biostimulants are mixtures of chemicals, substances, and microorganisms applied to plants or soils to increase crop vigour, production, sensitivity to abiotic pressure, and quality.

A biostimulant is any substance or microorganism that is applied to plants with the intention of improving nutrition efficiency, abiotic stress tolerance, and/or crop quality traits, regardless of nutrient content. Plant biostimulants, by extension, refer to commercial products containing mixtures of such substances and/or microorganisms.

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Biostimulant Market Dynamics

Drivers

Growing applications for effective crop production

Increasing application in agriculture to improve seed germination and fertiliser effectiveness, rising demand in cosmetics products such as cream, shampoo, and others, surging growth in the marine industry, and increased investment in the development of advanced products are some of the major factors that will drive the growth of the biostimulants market during the forecast period.

Some of the major reasons driving the Asia-Pacific biostimulant market are rising demand for organic products, increased expansion in the marine industry, increasing innovative technology, and expanding research & development efforts.

Growing demand from the personal care industry

The increasing use of biostimulants in powder form in cosmetic products such as soaps, shampoo, and creams is propelling the biostimulants market forward. The production of liquid biostimulants for use in fertilizers and pesticides, as well as increased stress tolerance in plants, are expected to drive the Asia-Pacific biostimulants market to new heights. The Asia-Pacific biostimulants market is expected to grow rapidly over the forecast period, owing to the increasing use of biostimulants in various industries.

Opportunity

Government organizations have made aggressive efforts to regulate the production and use of environmentally friendly products, such as prohibiting specific chemicals and establishing maximum consumption limits. As a result, there is an urgent need to develop bio-based agrochemicals in order to reduce the harmful effects of synthetic agrochemicals on the environment. Furthermore, the advantages of using biostimulants, such as low toxicity, high specificity, and increased efficiency, have led to increased adoption of such products.

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COVID-19 Impact on Biostimulant Market

As a result of the recent COVID-19 pandemic, supply and demand were negatively impacted, resulting in lower market demand for products. However, most bio-stimulant plants and companies were permitted to operate because they were deemed an essential business in the Asia-Pacific. The continued movement of agri-food products and inputs was considered as critical as part of a COVID-19 management strategy.

During the COVID-19 outbreak, Government declared crop inputs to be essential commodities, ensuring a resilient market for biostimulants. As a result, businesses were able to continue producing goods. However, the pandemic affected market dynamics because demand for some crops fell off as a result of the pandemic.

Asia-Pacific Biostimulant Market Scope

Active ingredient

Acid based
Extract based
Microbial amendments
Protein hydrolysates
B-vitamins
Others

Crop type

Fruits & vegetables
Cereals & grains
Turf & ornamentals
Oilseeds & pulses
Other crops

Application

Foliar treatment
Soil treatment
Seed treatment

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End-users

Farmers
Related industries
Research institutes
Others

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