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Biostimulants Market to Record 8.7% CAGR Growth Through 2029 | Global Analysis Report
Biostimulants
Biostimulants Market Outlook: How is the Market Expected to Grow by 2025?
The market for biostimulants has significantly expanded in the past few years. It is projected to increase from $3.92 billion in 2024 to $4.23 billion in 2025, with an 8.0% compound annual growth rate (CAGR). The considerable growth observed in recent history can be accredited to the rising necessity for sustainable farming practices, a surge in demand for organic products, strides made in investigational research, and the provision of government initiatives and regulatory backing.
Biostimulants Market Forecast: What Size Will It Reach By 2029?
In the coming years, the biostimulants market is predicted to experience robust expansion. It is poised to reach $5.9 billion by 2029, with an 8.7% Compound Annual Growth Rate (CAGR). This predicted growth in the upcoming years can be traced back to factors like climate-resilient farming, the consumer's leaning towards healthier and sustainable foods and drinks, increased demand for high-margin crops, and rising global food requirements. Key trends expected during this period include a concentration on customized crop remedies, introducing synergistic combinations for maximizing crop productivity, emphasizing nanotechnology for improving biostimulant compositions, enhancing sustainable crop yields, and focusing on cross-industry collaborations.
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Which Key Market Drivers Will Shape Biostimulants Industry Trends in 2025-2029?
The expansion of sustainable farming is predicted to fuel the progression of the biostimulant market. Factors like soil erosion, water shortages, and climate change, paired with the challenge of producing high crop yields to fulfil growing demand, have heightened the focus on sustainable agriculture. Sustainable farming prohibits the use of artificial substances such as fertilizers and pesticides, which cause soil degradation and environmental harm. Conversely, biostimulants boost the plant's power to assimilate nutrients and cope with biotic stress. For example, the United Nations sustainable development goals for 2030 concentrate specifically on sustainable agriculture. The deployment of biostimulants to cultivate crops without pesticides and fertilizers also aids the growth of crops in atypical conditions. The application of biostimulants assists in growing different crops under stress conditions, which further supports sustainable agriculture and thereby propels the biostimulant market.
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What Are the High-Growth Segments in the Biostimulants Market?
The biostimulants market covered in this report is segmented -
1) By Chemical Origin: Natural Biostimulants, Biosynthetic Biostimulants
2) By Active Ingredient: Humic Acid, Fulvic Acid, Amino Acids, Protein Hydrolysates, Seaweed Extracts, Other Active Ingredients
3) By Category: Application: Foliar, Soil, Seed
Subsegments:
1) By Natural Biostimulants: Plant Extracts, Humic Substances, Seaweed Extracts, Microbial Inoculants
2) By Biosynthetic Biostimulants: Synthetic Growth Regulators, Amino Acids, Other Synthetic Compounds
Which Global Trends Are Driving Biostimulants Market Expansion?
Firms operating in the biostimulant market are introducing inventive products tailored to satisfy customers' needs and achieve a competitive advantage, with new market entrants and startups, often leading with fresh products. For instance, in June 2022, a biostimulation and sustainable crop nutrition firm from Spain unveiled Biimore, a ground-breaking biostimulant, worldwide. Derived from a unique, eco-friendly plant fermentation procedure, Biimore comprises L-a amino acids, vitamins, sugars, and a range of other natural compounds not found in other market biostimulants. It aids in enhancing crop yield and harvest quality, even at exceptionally low doses. Moreover, in September 2022, Evonik Industries, a German specialty chemicals company, began the creation of a pioneering biostimulant that decreases fertilizer consumption by 50% while retaining 93% of the yields. This product is anticipated to hit the market between 2025 and 2027.
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Who Are the Fastest-Growing Companies in the Biostimulants Industry?
Major companies operating in the biostimulants market include Bayer AG, UPL, Adama Ltd, Syngenta, Novozymes A/S, Haifa Group, American Vanguard Corporation, Lallemand, Inc, FMC Corporation, BioAg Pty Ltd., Nutri-Tech Solutions, EcoCatalysts, T.Stanes & Company Limited, Qingdao Seawin Biotech Group Co., Ltd., Evergreen Biotech Inc., Jiangsu Baoze Agrochemical Co., Ltd, Beijing Multigrass Formulation Co., Ltd, AminoA Biostimulants, Valagro, Sapec Agro Business, Levington Agriculture, Plantworks Ltd., Koppert Biological Systems Inc., COMPO Expert GmbH, Agricol, Schelkovo Agrohim, BioWorks Inc, MicroSintesis, BioFert Manufacturing Inc., Plant Products, Acadian Seaplants, Valent BioSciences Corporation, Advanced Biological Marketing (ABM), Verdesian Life Sciences, Sound Agriculture, Agroenzymas, Stoller, BioCeres, Aminoagro, Microquimica, Ecolibrium Biologicals, Solum Brasil, Emirates Biotech Pharmaceutical Factory LLC, Agri Life Gulf, Bioriginal Africa, Omnia Group.
What Is the Regional Outlook for the Biostimulants Market by 2029?
Asia-Pacific was the largest region in the biostimulants market in 2024. North America was the second-largest region in the global biostimulants market. The regions covered in the biostimulants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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