Biostimulants Market Impact: The Role Of Microbial Products In Agriculture

Biostimulants Industry Overview

The global biostimulants market size was valued at USD 2.6 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This is attributed to rising in demand for the product from various end-use applications such as seed, soil, and foliar treatment. Biostimulants are fertilizers that are created organically and are used to nourish agricultural products as well as to promote plant growth and production. From the germination of the seed to the maturity of the plant, the product promotes plant growth and development. By encouraging the growth of interdependent soil microbes, these fertilizers also aid in nutrient transfer, assimilation, and usage while improving soil fertility.

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The product helps in improving the microflora, which, in turn, improves the efficiency of nutrient uptake by the plant. They increase antioxidant activity and reduce plant stress against the environment and various diseases. The hormones stimulate growth coupled with root development and cell enlargement, therefore, promoting the vigor and overall health of the plant. Biostimulants comprise natural and environment-friendly degradable materials, which do not affect the surroundings of the plant. Therefore, they are witnessing high demand for organic farming practices.

Organic foods contain the necessary nutrients and do not possess unnecessary toxins that are harmful to human health. Organic vegetables and fruits have witnessed a significant rise in demand in the past couple of years owing to their nutritional value, less usage of pesticides, and high sustainability. Organic farming is expected to witness augmented growth over the forecast period owing to its rising adoption in developing economies which in turn is projected to supplement the demand for the product in the coming years.

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Key Companies profiled:

• Isagro Group

• BASF SE

• Biolchim S.P.A.

• Sapec Agro S.A.

• Platform Specialty Products Corporation

• Novozymes A/S

• Valagro SpA

• Italpollina SAP

• Koppert B.V.

• Biostadt India Limited