Biostimulants can be defined as natural or synthetic substances. These are used in seeds, plants, and soil to influence growth. These substances have the potential to alter the vital and structural processes, provide tolerance to abiotic stresses and boost grain or seed yield and quantity.
The global biostimulants market size stood at $3.0 billion in 2021, which is expected to reach $7.81 billion by 2030, advancing at a CAGR of 11.3% during 2021–2030. This is due to the promulgating demand for food coupled with the rising global population and the increasing hunger and malnutrition coupled with adverse climate changes. In addition, the overexploitation of natural resources by human activities, loss of biodiversity, and wastage of food are other factors driving the industry growth.
Biostimulants also reduce fertilizers requirement. They contain essential plant nutrients, plant protective compounds, and plant growth regulators, due to which plant productivity is improved.
The small concentrations of biostimulants improve nutrition efficiency, crop quality traits, and abiotic stress tolerance. The extent application has these substances perform similar functions as plant hormones, such as gibberellins, auxins, and cytokinins.
The rising demand for sustainably produced food with higher biologicals concentration, and lesser synthetic chemicals concentration, boost the demand for biostimulants globally. The rising consumer awareness of the advantages of organic foods results in increasing consumption of biostimulants to improve yield.
Amino acids such as fulvic acid and humic acid are widely preferred for seed germination and metabolic processes in plants. It results in rising sales of the products.
Additionally, the rising requirement for the chemical to improve the agricultural production of grains, cereals, pulses and oilseeds, fruits, and vegetables to improve the growth of the root, nutrient uptake, primary and secondary metabolism, as well as crop tolerance to abiotic stresses.
The major players operating in the industry are; BASF SE, Biolchim S.p.A., Arysta Lifescience Corporation, Koppert Biological Systems, Syngenta AG, Italpollina SpA, Valagro S.p.A., and Adama Agricultural Solutions Ltd.
Therefore, the rising demand for food production boosts the consumption of biostimulants.
