Biostimulants Market To Grow By USD 1.74 Billion From 2024-2028, Driven By Rising Agricultural Demand, Report On AI's Role In Market Evolution - Technavio

NEW YORK, Nov. 29, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global
biostimulants market size is estimated to grow by USD 1.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 11.21% during the forecast period. Increasing demand for biostimulants in the agricultural industry is driving market growth, with a trend towards reduction in arable land. However, rise in demand for fertilizers poses a challenge market players include ADAMA Ltd., Atlantica Agricola, Bayer AG, Bioiberica S.A.U., Biolchim Spa, Biostadt India Ltd., Biovert SL, Crop Demetra Ltd., FMC Corp., Haifa Negev technologies Ltd., Idai Nature S.L, Italpollina Spa, Koppert, Micromix Plant Health Ltd., Novozymes AS, OMEX, RAG Stiftung, SEIPASA SA, SICIT Group Spa, and UPL Ltd..

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Key Market Trends Fueling Growth

The Biostimulants market is experiencing significant growth due to increasing population and climate change, leading to a greater demand for sustainable agriculture. Biostimulants, including protein hydrolysates, humic substances, kelp extracts, and microbial-derived enzymes, improve soil condition, plant growth, and crop yield. These products enhance crop production by increasing water irrigation efficiency, promoting germination, and providing nutrients like nitrates, phosphite, silicon, and amino acids. Primary and secondary metabolites, such as amino acids, betaines, peptides, proteins, sugars, and lipids, contribute to crop improvement and abiotic stress resistance. Foliar treatments and seed treatments are popular applications. The fruits & vegetables segment is a major consumer due to its high value and short shelf-life. Government bodies are focusing on soil reclamation and aeration to address soil degradation and environmental concerns. The industry outlook is positive, with a focus on natural resources and biodiversity loss mitigation. The Agriculture sector, including oilseeds and pulses, durum wheat, and podded crops, is adopting biostimulants for improved crop water efficiency, PH level, and microbial capability.

The global arable land has been decreasing due to urbanization, industrialization, and population growth. This trend began in the 1950s, with arable land exceeding the global food demand. Since then, the situation has changed drastically. For instance, China lost nearly 15 million hectares of arable land between 1979 and 1995. Developing nations, such as China and India, are projected to need an additional 120 million hectares of land to meet food demand by 2030. These developments underscore the urgent need for effective agricultural solutions, such as biostimulants, to enhance crop productivity and improve soil health on existing arable land. Biostimulants are organic or mineral substances that promote plant growth by improving soil structure, increasing nutrient availability, and enhancing resistance to stress. Their use can help mitigate the negative impacts of shrinking arable land and ensure food security for the growing population.

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Market
Challenges

• The Biostimulants Market faces several challenges in the Agriculture sector. Population growth and climate change put pressure on natural resources and biodiversity loss. Soil condition and crop quality are crucial for plant growth and yield. Synthetic chemical fertilizers, such as nitrates, face regulatory restrictions under the Nitrates Directive. Biostimulants, including protein hydrolysates, humic substances, kelp extracts, and microbial-derived enzymes, offer solutions. They enhance crop production by improving soil aeration, water retention, and microbial capability. Crop water efficiency is essential in climatic scenarios, and biostimulants can help plants cope with abiotic stress. Fruits & vegetables segment benefits from longer shelf-life and higher farm yield. Foliar sprays and seed treatments are popular applications. Arable lands face soil degradation, and biostimulants aid in soil reclamation. Environmental concerns call for eco-friendly alternatives to synthetic fertilizers. Industry outlook is positive, with growing demand for plant biostimulants in oilseeds and pulses, durum wheat, podded crops, and other crops. Primary and secondary metabolites, amino acids, betaines, peptides, proteins, sugars, and other plant chemicals contribute to crop improvement. Government bodies promote research and development in this area.
• Micronutrients, such as zinc, iron, phosphorus, and magnesium, are essential elements for plant growth, although they are required in small quantities. A deficiency of these micronutrients can hinder crucial plant functions, leading to reduced crop yield and growth abnormalities. These nutrients play vital roles at different growth stages of plants. For instance, zinc is essential for seed germination, while iron is crucial for photosynthesis. Horticultural crops, including fruits and vegetables, benefit significantly from the application of micronutrients. These nutrients enhance the nutritional value of the produce, making them more nutritious for consumers. Furthermore, micronutrients are essential components of fertilizers, which are widely used to improve soil fertility and optimize plant growth. By addressing micronutrient deficiencies, farmers can improve crop quality, yield, and overall productivity.

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Segment Overview

This biostimulants market report extensively covers market segmentation by