Biostimulants Market

Market Leaders: Strong Research Funding for Product Development by Key Manufacturers are Strategies to Strengthen their Market Position in Biostimulants Market

The global biostimulants market is estimated to be valued at USD 3.5 billion in 2022. It is projected to reach USD 6.2 billion by 2027, recording a CAGR of 11.8% during the forecast period. Biostimulants are biologically derived compounds that help to improve crop vigor, yield, quality, and tolerance to abiotic stresses. They can be applied to plants, seeds, soil, and other growing media to nurture the plant’s growth and development throughout its lifecycle, from seed germination to plant maturation. Biostimulants have been used for many years; the industry began to gain importance among growers and manufacturers due to many factors, such as the development of new technologies, growth in investment in the industry, and lower growth rate of the agrochemical industry with the falling commodity prices

Key players in this market include BASF SE (Germany), FMC Corporation (US), UPL (India), Valagro S.p.A (Italy), Gowan Group (US) and ILSA S.p.A (Italy).

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BASF SE is one of the leaders operating in the chemical industry, with various business segments, such as nutrition & care, materials, chemicals, agricultural solutions, industrial solutions, and surface technologies. Under these categories, the company offers intermediate chemical products, monomers, petrochemicals, dispersions & pigments, care chemicals, nutrition & health, paper chemicals, performance chemicals, catalysts, construction chemicals, coatings, performance materials, and crop protection products. It provides biostimulant products through its agricultural solutions unit. From 1st January 2019, the company has revised its business segments into chemicals, materials, industrial solutions, surface technologies, nutrition and care, and agricultural solutions. It has renamed the crops protection segment as agricultural solutions after acquiring some significant businesses, such as vegetable seeds business, certain seed treatment businesses, and an R&D platform for hybrid wheat and digital farming platform from Bayer in August 2018.

UPL is one of the leading companies offering total crop solutions to secure the food supply. Its business segments are divided into agro and non-agro activities. The Agro activities segment of the company is further divided into seeds, crop protection solutions such as biostimulants, bio-solutions, post-harvest, aquatics, farmer engagement, and other businesses. The company has a presence in over 130 countries and has 48 manufacturing plants. It adopts acquisitions as one of its major strategies for achieving a market position. For example, in February 2019, it announced the complete acquisition of Arysta LifeScience. This acquisition would help UPL widen its biostimulants portfolio.

Gowan Company is a global agricultural solutions provider. It develops, markets, and manufacturers global agricultural inputs, such as crop protection products, seeds, and fertilizers. Crop care and seeds are the two major segments catered to by the Gowan Company. The company offers premium quality biostimulant products through its crop care segment. Premio, Siapton, and Aminoplant are some of their key biostimulant products. The major product groups included in the company’s portfolio are turfs and ornamentals, fungicides, herbicides, insecticides, miticides, nutrition, and biologicals. Gowan Company acquired Isagro S.p.A in 2021 March, which has resulted in the further addition of Isagro’s products to the company’s product profile of biostimulants. The strategy has enhanced the company’s market outreach and product portfolio. Gowan Company has a global presence with over 27 companies in 15 countries and sales in over 70 countries.

Valagro S.p.A is one of the leading companies in producing and marketing biostimulants and fertilizers. The company operates with its 12 subsidiaries across the globe. Apart from its production site in Italy, it also owns two active production facilities in Norway, two in India, and one in Brazil. Valagro S.p.A offers farm products, such as plant biostimulants, water-soluble nutrition, and micronutrients. The company follows the growth strategy of introducing new products and entering into agreements for enhanced R&D. The company’s strength has been to develop diverse product formulations based on different and innovative components. The product portfolio of Valagro S.p.A covers almost all the crops as well as has target-specific functions. The company operates under two business segments: farms for agriculture and industrials for the local and international industries. Syngenta Group announced the acquisition of Valagro S.p.A, a leading biological company. Valagro S.p.A will continue to operate as an independent brand in the market within the Syngenta Crop Protection business.

Related Reports:

Biostimulants Market by Active Ingredient (Humic Substances, Amino Acids, Seaweed Extracts, and Microbial Amendments), Mode of Application (Foliar, Soil Treatment, and Seed Treatment), Form (Liquid and Dry), Crop Type and Region - Global Forecast to 2027

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Biostimulants Market Size,  Share & Growth Report
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