Biostimulants Industry Analysis 2024-2032 Featuring Profiles of BASF, Bayer, Syngenta, Novozymes, Adama and Other Key Players

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Biostimulants Market

Introduction

The global biostimulants market size reached US$ 2.8 billion in 2023. Looking forward, the market is projected to reach US$ 6.3 billion by 2032, exhibiting a growth rate (CAGR) of 9.4% during 2023-2032. The market is experiencing steady growth driven by the escalating demand for organic and clean-label food products among the masses, rising focus on improving agricultural practices to reduce the carbon footprint, and increasing efforts by governments and international regulatory bodies to establish clear standards.

Increasing demand for sustainable agriculture practices

The global shift towards sustainable agriculture practices is impelling the growth of the market. As environmental concerns rise, there is a growing consensus on the need for eco-friendly agricultural solutions. Biostimulants, which are natural or synthetic substances that enhance plant growth and nutrition, are integral to this movement. They offer a sustainable alternative to traditional chemical fertilizers, helping reduce environmental impact while improving crop productivity and quality. The role of biostimulants in sustainable agriculture is multifaceted.

• They improve soil health
• They increase plant resistance to stress
• They enhance nutrient absorption

All of these contribute to higher yields and better crop quality. This is particularly important as the global population grows and the demand for food increases, placing more pressure on agricultural systems to produce more with fewer resources. Governments and international organizations are increasingly promoting sustainable agriculture practices, recognizing their importance in achieving food security and environmental goals. This is leading to supportive policies and incentives for the use of biostimulants. Additionally, the agriculture industry is witnessing a shift in consumer preferences towards organic and sustainably produced food, further driving the demand for biostimulants.

Advancements in agricultural technology and plant research

The biostimulants market is significantly influenced by advancements in agricultural technology and plant research. The intersection of biotechnology and agriculture is opening new avenues for the development and application of biostimulants. Modern research is enabling a deeper understanding of plant biology, particularly how plants respond to abiotic stresses, such as drought, salinity, and extreme temperatures. This knowledge is crucial for developing effective biostimulants that can help plants overcome these challenges.

Technological innovations are also making it possible to identify and isolate specific compounds that have biostimulant properties. These include various amino acids, peptides, enzymes, and other bioactive molecules. The ability to create tailored solutions for different crops and environmental conditions is greatly enhancing the effectiveness and appeal of biostimulants. Moreover, the increasing investment in agricultural research operations is fostering collaborations between academic institutions, research organizations, and biostimulant manufacturers. These partnerships are crucial for the continuous development of new and improved biostimulant products. They also facilitate the rapid transfer of research findings into practical applications in the field, thereby benefiting farmers directly.

Regulatory support and standardization

The regulatory landscape is a critical factor positively influencing the market. Moreover, there is a significant effort by governments and international regulatory bodies to establish clear standards and regulations for biostimulant products. This move towards standardization and regulation is vital for ensuring product quality and safety, which in turn builds trust among end-users and encourages wider adoption. Clear regulatory frameworks help in distinguishing biostimulants from other agricultural inputs like fertilizers and pesticides. This distinction is important for both manufacturers and users, as it provides clarity on the application, benefits, and limitations of these products. Regulations also ensure that biostimulants meet certain efficacy and safety standards, which is crucial for protecting both the environment and crop health.

The standardization of biostimulants also plays a key role in facilitating international trade. With harmonized standards, manufacturers can more easily enter new markets, and farmers have access to a broader range of products. Additionally, regulatory support often comes with research and development (R&D) incentives, which encourage innovation in the production of biostimulants. Governments and international bodies are increasingly recognizing the potential of biostimulants in achieving agricultural sustainability goals, leading to more supportive policies and funding opportunities.

Biostimulants Industry Segmentation

The report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. The report has categorized the market based on product type, crop type, form, origin, distribution channel, application, and end user.

Breakup by Product Type:

Acid-based accounts for the majority of the market share.

Breakup by Crop Type:

• Cereals and Grains
• Fruits and Vegetables
• Turf and Ornamentals
• Oilseeds and Pulses
• Others

Cereals and grains hold the largest share in the industry.

Breakup by Form:

Dry represents the leading market segment.

Breakup by Origin:

• Natural
• Synthetic

Natural exhibits a clear dominance in the market.

Breakup by Distribution Channel:

• Direct
• Indirect

Direct dominates the market.

Break

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 2: Zero Hunger
• SDG 12: Responsible Consumption and Production
• SDG 13: Climate Action
• SDG 15: Life on Land

The article discusses the global shift towards sustainable agriculture practices, the demand for organic and clean-label food products, and the need to reduce the carbon footprint. These issues are directly connected to SDG 2, which aims to end hunger, achieve food security, improve nutrition, and promote sustainable agriculture. Additionally, the focus on improving agricultural practices and reducing environmental impact aligns with SDG 12 (responsible consumption and production) and SDG 13 (climate action). The article also mentions the role of biostimulants in enhancing soil health and plant resistance to stress, which relates to SDG 15 (life on land).

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 2.4: By 2030, ensure sustainable food production systems and implement resilient agricultural practices that increase productivity and production.
• Target 12.4: By 2020, achieve the environmentally sound management of chemicals and all wastes throughout their life cycle, in accordance with agreed international frameworks, and significantly reduce their release to air, water, and soil to minimize their adverse impacts on human health and the environment.
• Target 13.2: Integrate climate change measures into national policies, strategies, and planning.
• Target 15.3: By 2030, combat desertification, restore degraded land and soil, including land affected by desertification, drought, and floods, and strive to achieve a land degradation-neutral world.

Based on the article’s content, the targets mentioned above are relevant. The article highlights the need for sustainable food production systems and resilient agricultural practices (Target 2.4). It also emphasizes the importance of reducing the environmental impact of agricultural practices and improving soil health (Target 12.4 and Target 15.3). Additionally, the article mentions the efforts to establish clear standards and regulations for biostimulant products, which aligns with the target of integrating climate change measures into national policies (Target 13.2).

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Indicator 2.4.1: Proportion of agricultural area under productive and sustainable agriculture
• Indicator 12.4.1: Number of parties to international multilateral environmental agreements on hazardous waste, including their compliance with the agreements
• Indicator 13.2.1: Number of countries that have communicated the establishment or operationalization of an integrated policy/strategy/plan which increases their ability to adapt to the adverse impacts of climate change, and foster climate resilience and low greenhouse gas emissions development in a manner that does not threaten food production
• Indicator 15.3.1: Proportion of land that is degraded over total land area

The article does not explicitly mention these indicators, but they can be used to measure progress towards the identified targets. These indicators provide specific metrics to assess the proportion of agricultural area under sustainable agriculture (Indicator 2.4.1), the compliance with international agreements on hazardous waste (Indicator 12.4.1), the establishment of integrated policies/strategies/plans for climate adaptation (Indicator 13.2.1), and the proportion of degraded land (Indicator 15.3.1).

Table: SDGs, Targets, and Indicators

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: finance.yahoo.com

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