Latest News- Biostimulants Market: Acid-based is expected to lead the Product segment during 2025-2029

The Biostimulants Market is being driven by Increasing demand for biostimulants in agricultural industry

The Biostimulants Market is expected to grow at a CAGR of 12.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2163.4 million. In the face of global challenges such as industrialization, urbanization, and population growth, the availability of arable land is becoming increasingly scarce. According to the Food and Agriculture Organization (FAO) of the United Nations, developing nations like China and India will require an additional 120 million hectares of land to meet food demand by 2030. With the global arable land area projected to decrease by 11% by 2050, it is imperative for farmers to maximize yields from existing farms. Biostimulants, a key solution, play a pivotal role in enhancing food crop productivity and improving soil health, thereby contributing significantly to sustainable agriculture and food security. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Acid-based
  • Extract-based
  • Others
• Application
  • Foliar
  • Soil
  • Seed
• Type
  • Fruits and vegetables
  • Row crops and cereals
  • Turfs and ornaments
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for biostimulants in agricultural industry
• Rising demand for organic food
• Easy availability of raw materials

However, the market also witnesses some limitations, which are as follows:

• Rise in demand for fertilizers
• Demand fluctuations due to changes in climatic conditions and crop variance
• Technical and scientific challenges associated with biostimulants

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Market Scope in Biostimulants Market Research Report

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Research Analysis Overview

The Biostimulants Market encompasses the use of protein hydrolysates and beneficial microorganisms to enhance crop quality and yield, addressing challenges such as population growth, climate change, and biodiversity loss. These products improve soil condition, plant growth, and crop production, particularly in oilseeds and pulses. They also boost crop water efficiency and aid in soil reclamation. Synthetic chemical fertilizers are being gradually replaced due to concerns over abiotic stress, land fertility, and climatic scenarios. Food products benefit from biostimulants' role in crop improvement, making them essential in the Agriculture sector.

Market Research Overview

The global fertilizers and agricultural chemicals industry encompasses businesses engaged in the production of fertilizers and agricultural chemicals, as well as related components. This sector comprises agricultural pesticides, including insecticides, herbicides, fungicides, nematicides, and fertilizers, such as nitrogenous, phosphatic, and potassic varieties, in addition to biofertilizers. According to Technavio's market analysis, the expansion of this market is attributable to several key factors. Primarily, the increasing number of new product launches by market participants is driving growth. Additionally, population growth, climate change, depletion of natural resources, and biodiversity loss are creating a heightened demand for sustainable agricultural solutions, which biostimulants, including protein hydrolysates, are poised to address. Consequently, the market is expected to experience significant growth in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/