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3. Top Companies in Biostimulants Industry - BASF SE (Germany), UPL (India) and FMC Corporation (US)

The biostimulants market is estimated at USD 4.3 billion in 2024 and is projected to reach USD 7.6 billion by 2029, at a CAGR of 12.0% from 2024 to 2029.

The biostimulants market experiences significant influence from various pivotal factors. Firstly, there is a mounting demand for sustainable agricultural practices, driven by increased awareness of the environmental repercussions of conventional farming methods. Biostimulants present a viable avenue for bolstering crop productivity while reducing dependence on synthetic chemicals. Secondly, government regulations aimed at curtailing chemical usage in agriculture, promoting organic farming, and ensuring food safety exert a substantial impact on the biostimulants market. Incentives and subsidies further propel the adoption of biostimulants. Thirdly, farmers' perpetual quest to enhance crop yields, quality, and resilience against diverse stressors like droughts, diseases, and pests fuels the demand for biostimulants, which augment nutrient uptake, stress tolerance, and overall plant growth. Moreover, ongoing advancements in biotechnology and the elucidation of plant-microbe interactions contribute to the development of more efficacious biostimulant products, including the discovery of novel microbial strains and tailored formulations for specific crops and environmental conditions.

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BASF SE (Germany)

BASF SE is a leading figure in the chemical industry, boasting a wide array of business segments including nutrition and care, materials, chemicals, agricultural solutions, industrial solutions, and surface technologies. The company provides a diverse range of chemical products such as intermediates, monomers, petrochemicals, dispersions, pigments, care chemicals, nutrition and health products, paper chemicals, performance chemicals, catalysts, construction chemicals, coatings, performance materials, and crop protection products. As of April 2024, BASF SE has restructured its business segments into chemicals, materials, industrial solutions, surface technologies, nutrition and care, agricultural solutions, and others. Within agricultural solutions, the company focuses on offering biostimulant products to consumers across various regions.

BASF has significantly increased its investment in the agricultural solutions sector, particularly in biostimulants, which are substances or microorganisms used on plants to enhance nutrient absorption, stress resistance, and growth stimulation. This emphasis on biostimulants aligns with the growing demand for sustainable agricultural practices and solutions to boost crop yields while minimizing environmental impacts. With a strong global presence, BASF SE operates through subsidiaries and joint ventures in over 93 countries. The company manages six integrated production sites and 234 additional production facilities situated across Europe, Asia, Australia, the Americas, and Africa.

In August 2022, BASF Venture Capital GmbH and Aqua-Spark invested in Sead Energy Pvt. Ltd. during a Series B funding round, totaling INR 1402 million (approximately USD 18.5 million). Sead Energy specializes in producing biostimulants for agriculture using red seaweed, a sustainable raw material mainly found in tropical waters in Asia. Their integrated model includes cultivation technology suited for deep waters and adverse weather conditions, aided by satellite imagery to optimize seaweed farm locations. With operations in Bali, Indonesia, for commercial seaweed farming and processing plants in Tuticorin, India, Sead Energy leads in tropical red seaweed production and processing. BASF's investment diversifies its biostimulants portfolio and strengthens its position in the emerging market for seaweed-derived products.

UPL (India)

UPL is a leading provider of comprehensive crop solutions dedicated to ensuring global food security. Its operations are divided into the Agrochemical Products and Industrial Chemicals segments. Within the Agrochemical activities segment, UPL offers a range of services including biostimulants, seeds, crop protection solutions, post-harvest solutions, aquatics, farmer engagement, and other related businesses. With a presence in over 138 countries and 48 manufacturing plants, UPL's ProNutiva program stands out by combining natural BioSolutions, such as bioprotection, biostimulants, and bionutrition, with traditional crop protection products to meet or exceed real-world needs. UPL utilizes acquisitions as a key strategy to solidify its market presence.

In May 2022, UPL announced a strategic partnership with Kitesca M660 Innovation Center, marking a significant advancement in the biostimulants market, particularly in North America. The collaboration aims to commercialize innovative BioSolutions technologies, providing tailored solutions for optimal plant development, improved yields, and enhanced crop quality. This long-term agreement underscores the strategic importance of biosolutions in UPL's global vision, demonstrating their commitment to sustainable food production and grower profitability. Through this partnership, UPL plans to introduce five biostimulants and innovative nutrition products, including ALFA, MOTO, VELEXI, SERENIS, and CEVO, targeting specific crops and offering diverse solutions for agricultural needs. This partnership solidifies UPL's position as a major player in the biostimulants market and addresses the growing demand for sustainable agriculture practices.

FMC CORPORATTION (US)

FMC Corporation provides innovative solutions to growers in crop protection, plant health, professional pest control, and turf maintenance. Originally, the company operated in three segments: agricultural solutions, health & nutrition, and lithium, with agricultural solutions contributing about 69% of its revenue. Following the acquisition of DuPont's crop protection business in November 2017 and the divestment of the health and nutrition business to DuPont, FMC Corporation now focuses on two segments: agricultural solutions and lithium.
These segments encompass herbicides, fungicides, plant health, and insecticides. Recently, FMC Corporation rebranded its plant health business segment as Biologicals by FMC, specializing in biostimulants, biofungicides, and other plant health products. Operating across North America, Europe, South America, the Middle East, and the Asia Pacific, FMC Corporation's sales are predominantly concentrated in Europe, North America, and Asia. Some of its subsidiaries include FMC Agricultural Products International AG (Switzerland), FMC Agroquimica de Mexico S.A. de C.V., FMC Foret S.A. (Spain), FMC (Shanghai) Chemical Technology Consulting Co. Ltd. (China), FMC Australasia Pty. Ltd. (Australia), FMC Chemicals (Thailand) Limited, FMC Chemicals KK (Japan), and FMC BioPolymer UK Limited (UK).

In June 2022, FMC Corporation's unveiling of the "Biologicals by FMC" brand underscores its dedication to the expanding realm of biological crop protection, highlighting substantial investment and a robust pipeline of groundbreaking products. With a portfolio of over 50 biological solutions available in 50 countries, including award-winning biostimulants and bionematicides, FMC aims to equip farmers with science-driven solutions for sustainable crop management. The recent launch of Zironar biofungicide/bionematicide in the US and Proxilar biofungicide in Brazil, along with plans for four global biopesticide releases in the next four years, solidifies FMC's position as a major player in the biostimulants market, reaffirming its commitment to tackling agricultural challenges with innovative biological technologies.

Related Reports:

Biostimulants Market Report by Active Ingredients (Humic Substances, Seaweed Extracts, Amino Acids, Microbial Amendments, Minerals & Vitamins), Crop Type, Mode of Application, Form (Dry, Liquid) and Region - Global Forecast to 2029

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