The global Biostimulants Market Share, size was valued at USD 3.64 billion in 2023. The market is projected to grow from USD 4.03 billion in 2024 to USD 9.75 billion by 2032, exhibiting a CAGR of 11.69% during the forecast period. Europe dominated the biostimulants market with a market share of 39.29% in 2023. Fortune Business Insights™ mentioned this in a report titled, “Biostimulants Market, 2024-2032.”
Biostimulants are compounds that increase nutrient uptake, boost plant growth, and increase stress tolerance, which raises agricultural yields and improves crop quality. Biostimulants are being used by farmers more and more to increase crop productivity and profitability. Numerous biostimulants are suitable with organic farming methods because they come from natural sources. They provide organic farmers with useful instruments to raise crop resilience and yield while upholding the requirements of organic certification. Biostimulant cultivation is the practice of applying chemicals or microbes to plants to enhance crop quality, abiotic stress tolerance, and nutrition efficiency. increased concerns about the environment and climate, a shift toward sustainability, and increased interest in organic farming are all contributing to the market's expansion.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/biostimulants-market-100414
Segments
Improving Biochemical and Physiological Properties of Crops to Encourage Non-Microbial Segment Growth
Based on the source, the market is split into microbial and non-microbial sectors. The non-microbial sector leads the market and is expected to grow at a significant rate throughout the course of the projected period. The growth of this segment is attributed to the expanding biochemical and physiological features of crops.
Expanding Worldwide Seaweed Farming to Drive Seaweed Extracts Market Growth
Based on the active ingredient, the market is divided into categories such as humic substances, seaweed extracts, vitamins & amino acids, microbial amendments, and others. Due to the growth of seaweed agriculture, the seaweed extracts segment is currently dominating the market.
Elevated Foliar Spray Efficiency in Strengthening Plant Health Extension of the Foliar Application Domain
Based on application, the market is split into three segments: foliar application, soil treatment, and seed treatment. Foliar spray has been so effective at improving plant health that it has held the largest proportion of the biostimulants market.
Increased Use of Greenhouse Vegetable Production to Support the Row Crops Segment's Growth
Depending on the kind of crop, the market is separated into sections for grass and ornamentals, fruits and vegetables, row crops, and other categories. Over the course of the projection period, the row crops category is expected to dominate the market due to the rising demand for high-value crops and the growing use of greenhouse vegetable production.
Geographically speaking, the market is investigated in North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Report Coverage
The Biostimulants Market report offers: