Biostimulants Market Size, Share & Trends Report

Biostimulants Market Size, Share & Trends Analysis Report By Active Ingredients (Acid Based, Microbial), By Crop Type, By Application (Foliar, Soil Treatment), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-346-1
  • Number of Report Pages: 150
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Bulk Chemicals

Research Methodology

A three-pronged approach was followed for deducing the biostimulants market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for biostimulants market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of biostimulants market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Biostimulants Market Categorization:

The biostimulants market was categorized into four segments, namely active ingredients (Acid Based, Seaweed Extract, Microbial), crop type (Row Crops & Cereals, Fruits & Vegetables, Turf & Ornamentals), application (Foliar Treatment, Soil Treatment, Seed Treatment),  and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The biostimulants market was segmented into active ingredients, crop type, application,  and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The biostimulants market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Germany; the UK.; Italy; China; India; Australia; Japan; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Biostimulants market companies & financials:

The biostimulants market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Headquartered in Ludwigshafen, Germany, BASF SE is a chemical manufacturing company. The company, established in 1865, operates its business through five segments: performance products, chemicals, agricultural solutions, functional materials & solutions, and oil & gas. The company’s operations are widely spread in 80 different countries with manufacturing units in key regions such as Asia Pacific, Europe, North America, and Africa. The company manufactures products that cater to a host of industries such as agriculture, construction, pharmaceuticals, energy & power, home care & nutrition, automotive & transportation, rubber & plastics, leather & textiles, and personal care & hygiene. The chemicals segment of the company offers products such as solvents, monomers, and glues, and raw materials for textile fibers, detergents, plastics, paints & coatings, medicines, and crop protection products. The performance products segment entails nutrition and healthcare products, dispersions and pigments, and performance chemicals that are commonly used in the development of personal care products, pharmaceuticals, cosmetics, household hygiene products, and products for enhancing production processes for the water treatment, oil & gas, and paper industries. Products such as battery materials, catalysts, engineering plastics, automotive coatings, tile adhesives, surface treatment solutions, and decorative paints for chemical, automotive, construction, and electrical industries are included in the functional materials segment. Insecticides, herbicides, and various other crop care products are included in the agricultural solutions segment. As of 2016, the company had 113,830 employees.

  • Isagro Group was founded in 1993; it is now headquartered in Milan, Italy. It provides a wide range of chemicals as well as biological solutions crucial for the overall improvement of the quality of crops. The buyers of agricultural products are the primary target audience of the company. The product portfolio of the company entails biostimulants, fungicides, insecticides, microorganisms, pheromones, and fumigants. The company was registered on the Italian Stock Exchange in 2003. The company performs its manufacturing activities at four different manufacturing sites in Italy and one in India. The company markets its products across 80 countries. Its distribution network is spread across Spain, India, the U.S., Brazil, and Colombia. It is consistently involved in conducting extensive research and development activities, and by the end of 2016, it had spent 10% of its total revenues on these activities. The R&D department of the company employs more than 100 research professionals. As of 2016, the company generated the highest revenue from Asia (29.4%), followed by Rest of Europe (28.1%), Italy (19.7%), Americas (17%), and Others (5.8%). As of 2016, the average workforce in Isagro S.p.A., increased by 12 employees compared to 2015.

  • Sapec Agro S.A. is headquartered in Setubal, Portugal. It is involved in the development, manufacturing, and supply of crop protection products and specialty crop nutrition solutions. Herbicides, fungicides, and insecticides are known as crop protection products. Specialty crop nutrition solutions include micronutrients and biostimulants, which are marketed under the Tradecorp brand. The company is among the leading market players in Portugal and Spain. It has an extensive distribution network across 70 countries. Associates of the company are located in France, Italy, Mexico, China, Australia, South Korea, Brazil, Colombia, Egypt, and Mozambique. Its production sites are located in Portugal, Spain, and Ireland. The R&D team of the company is situated in India.

  • Biolchim S.p.A. is involved in the production as well as commercialization of biostimulants in the global market. The company is ISO 9001, ISO 9001 IQ-net, ISO 14001, ISO 14001 IQ-net, ISO 18001, and 18001 IQ-net certified. The company provides an extensive range of product portfolios within several product segments, such as specialties, meso and micronutrients, foliar, fertigation products, granular specialties, and other complimentary products. Its subsidiaries are situated in China, New Zealand, Poland, Deutschland, and Brazil. The company functions on a global platform with a strong sales network and specialists who cater to farmers’ supplies by providing adequate commercial and technical support to them.

  • Novozymes A/S was founded in 1925 and is based in Copenhagen, Denmark now. The company is primarily involved in the production and research & development of microorganisms, biopharmaceutical ingredients, and industrial enzymes. It supplies its products across 40 key markets worldwide. As of 2016, the company employed 6,441 personnel. It has operations across India, the UK, Brazil, the U.S., Canada, and Argentina. The shares of the company are listed on the NASDAQ OMX Nordic exchange. As of 2016, the total sales of the company grew by 2%, mainly driven by technical & pharma, and agriculture & feed business segments. A total of 34% of the total sales were generated from North America, 36% from MEA & Europe, 20% from Asia Pacific, and 10% from Latin America.

  • Platform Specialty Products Corporation was registered in 2014. It is a global producer of diversified specialty chemical products. It caters its products to several segments including electronics, animal health, automotive, offshore oil & gas production and drilling, graphic arts, and agriculture. The company functions through two primary business segments, agricultural solutions and performance solutions. The company owns 59 production sites, 16 research centers, direct sales channels in 70 countries, and 12 sites that include both R&D and manufacturing facilities. The performance solutions segment offers various specialty chemicals for assembly solutions, electronics solutions, industrial solutions, graphic solutions, and offshore solutions. Products presented by the agricultural solutions segment include fungicides, biofungicides, herbicides, insecticides, bioinsecticides, acaricides, biostimulants, innovative nutrition, and seed treatments. The agricultural solutions segment of the company employed approximately 3,300 employees as of 2016. The company has a geographic presence across South Asia, Central and Eastern Europe, Africa, and Latin America. Moreover, the company also offers non-crop products such as veterinary vaccines and bee protective miticides.

  • Valagro SpA was founded in 1980 and is headquartered in Atessa, Italy. The company, along with its certain subsidiaries, is involved in providing a range of solutions designed for delivering nutrition to plants. Products offered by the company include micronutrients, fertigators, biostimulants, foliar fertilizers, and other products. It also provides professional solutions specifically for the maintenance of lawns and other ornamental plants. The company has a widespread distribution network across Italy and the rest of the world.

  • Koppert B.V. was founded in 1967 and is now based in the Netherlands. It is involved in the manufacturing and marketing of innovative biological solutions, worldwide. Products offered by the company include biostimulants, pesticides, distribution appliances, blowing devices, monitoring devices, and BioMotus, a device designed for preparing wood compost extract. The company also provides solutions including application techniques & monitoring and seed treatment. There are more than 25 existing subsidiaries of the company and are situated in Belgium, Brazil, Canada, Chile, China, Colombia, Ecuador, France, Germany, Greece, India, Italy, Kenya, Mexico, Morocco, Poland, Russia, Slovakia, South Africa, South-Korea, Spain, The Netherlands, Turkey, United Kingdom, West Africa, and the U.S.

  • Italpollina SAP was established in 1953. It offers a wide range of certified and biotechnological solutions for sustainable agricultural practices. The products provided by the company include biostimulants, fertigation, organic minerals, microbial, foliar, and products for seed treatment. The company functions in 70 countries and has four production sites and 13 offices worldwide. It is also certified by the California Department of Food and Agriculture (CDFA), FIBL, OMRI, and ECOCERT. The company is consistently involved in developing innovative production systems for manufacturing biostimulants.

  • Biostadt India Ltd. is involved in developing, manufacturing, and marketing crop protection and pest management products. The company offers a wide range of products such as fungicides, aqua products, herbicides, hybrid seeds, insecticides, and farm services. It has a robust presence in rural parts of India and recently introduced a chain of Biostadt Aastha Clinics in the country. These clinics cater to the basic healthcare needs of farmers, namely a doctor for family & a vet for their animals, and a crop care specialist for the field. The company is involved in developing integrated management systems, that aim to lead farming towards sustainable development. The company is certified with ISO 9001:2015 Quality Management System, ISO 14001:2015 Environmental Management System, and ISO 14001:2015 Environmental Management System. The research and development lab of the company is accredited by ISO 17025:2005. Within India, the company’s distribution network includes 3,000 retailers, 20 stock points, 3 mother depots, and over 200 distributors.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Biostimulants Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Biostimulants Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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