Humic-Based Biostimulants Market By Crop Type (Cereals, Fruits And Vegetables, Oilseeds And Pulses), By Formulation (Liquid Form, Powder/Granular Form), By Application Method (Foliar Spray, Soil Treatment, Seed Treatment), And Region For 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Humic-Based Biostimulants Market Valuation – 2024-2031

The growing demand for sustainable and organic agricultural practices propels the adoption of humic-based biostimulants as they enhance soil health and plant growth without harmful chemicals is driving the market size surpass USD 765.1 Million valued in 2023 to reach a valuation of around USD 1831.68 Million by 2031.

In addition to this, the rising global population and subsequent need for higher crop yields drive the demand for effective agricultural inputs like humic-based biostimulants is enabling the market grow at a CAGR of 11.53%from 2024 to 2031.

Humic-Based Biostimulants MarketDefinition/ Overview

Humic-based biostimulants are natural substances derived from humic substances, which are organic components found in soil, peat, coal, and other natural sources. These biostimulants contain humic acids, fulvic acids, and humin, which enhance plant growth and soil health by improving nutrient uptake, increasing root development, and stimulating microbial activity in the soil. They are widely used in agriculture to promote sustainable farming practices and improve crop productivity without relying on synthetic chemicals.

The primary applications of humic-based biostimulants include their use in crop production, horticulture, and turf management. Farmers and growers apply these biostimulants to seeds, soil, or plants to enhance growth, increase stress tolerance, and improve overall plant health. They are particularly effective in enhancing soil structure, increasing water retention, and promoting the efficient use of fertilizers, making them valuable for a wide range of crops, including fruits, vegetables, cereals, and ornamental plants.

The future scope of humic-based biostimulants is promising, driven by the increasing demand for sustainable agricultural solutions and the need to enhance crop yields to feed a growing global population. Continued research and development are expected to lead to more advanced formulations and application methods, improving their efficacy and ease of use.

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How will Rising Shift towards Sustainable and Organic Farming Practices Increase Adoption of Humic-Based Biostimulants?

The humic-based biostimulants market is driven by the increasing shift towards sustainable and organic farming practices. As consumers and regulatory bodies demand environmentally friendly agricultural products, farmers and growers are turning to humic-based biostimulants to enhance crop yields without the harmful effects of synthetic chemicals. These biostimulants improve soil health and plant growth, making them an integral part of sustainable agriculture and aligning with global trends towards eco-friendly farming solutions.

Advancements in agricultural technology and biostimulant formulations are also significant drivers for the market. Ongoing research and development efforts have led to more effective and efficient humic-based biostimulant products. These advancements include better extraction methods, enhanced formulations, and improved application techniques, making these products more accessible and beneficial for a wide range of crops. Such innovations increase the efficacy of humic-based biostimulants, thereby boosting their adoption among farmers seeking to optimize their crop production.

Lastly, the growing global population and the consequent need to increase food production drive the demand for humic-based biostimulants. With limited arable land and the necessity to maximize agricultural output, these biostimulants offer a solution by improving nutrient uptake and soil fertility, leading to higher crop yields. Additionally, supportive government policies and initiatives promoting sustainable agricultural practices further propel market growth, as they encourage the use of natural and effective farming inputs like humic-based biostimulants.

Will Lack of Standardized Regulations of Restrain Humic-Based Biostimulants Market Growth?

The humic-based biostimulants market faces several significant restraints. One primary challenge is the lack of standardized regulations and quality control measures across different regions. The variability in product quality and efficacy can lead to inconsistent results for farmers, reducing their confidence in these biostimulants. Without a universally accepted regulatory framework, it becomes difficult for manufacturers to ensure consistent product performance and for consumers to trust the benefits of these biostimulants.

Another restraint is the relatively high cost of humic-based biostimulants compared to conventional chemical fertilizers and pesticides. Although these biostimulants offer long-term benefits for soil health and crop yields, the initial investment can be prohibitive for small-scale farmers or those in developing regions. The higher costs can deter widespread adoption, especially in markets where farmers are highly price-sensitive and have limited access to financial resources or subsidies that could offset the initial expenses.

Lastly, limited awareness and knowledge among farmers about the benefits and proper application of humic-based biostimulants hinder market growth. Many farmers remain skeptical about switching from traditional chemical inputs to biostimulants due to a lack of understanding of how these products work and their potential advantages. This knowledge gap is compounded by insufficient extension services and educational programs that could inform farmers about the effective use of humic-based biostimulants, resulting in slower adoption rates and less market penetration.

Category-Wise Acumens

Will Rise in Adoption of Liquid Form of Humic-Based Biostimulants Drive Growth of the Market?

The liquid form of humic-based biostimulants is currently dominating the market due to its numerous advantages in agricultural applications. Liquid formulations are highly concentrated and can be easily diluted to the desired strength, making them versatile for various methods of application such as foliar sprays, fertigation, and seed treatments. This versatility allows farmers to tailor the use of biostimulants to specific crop needs and growing conditions, enhancing their overall effectiveness.

One of the key reasons for the dominance of liquid formulations is their rapid nutrient absorption and systemic effects. When applied as a foliar spray, liquid biostimulants are quickly absorbed through the leaves, providing immediate benefits to the plants. This rapid uptake helps in quickly addressing nutrient deficiencies and boosting plant health, leading to better growth and higher yields. The systemic nature of liquid biostimulants ensures that the beneficial compounds are transported throughout the plant, promoting uniform growth and development.

Furthermore, liquid humic-based biostimulants are easier to handle and mix with other agricultural inputs compared to powder or granular forms. Farmers appreciate the convenience of being able to combine these biostimulants with fertilizers, pesticides, and other treatments in a single application. This not only saves time and labor but also enhances the overall efficiency of farm management practices. The ability to seamlessly integrate liquid biostimulants into existing agricultural routines makes them a preferred choice among growers.

Which Factors Contributing the Dominance of Foliar Spray in Humic-Based Biostimulants Market?

In the humic-based biostimulants market, foliar spray applications dominate due to their effectiveness in enhancing plant nutrient uptake and improving overall plant health. Foliar sprays allow for direct application of biostimulants to the plant leaves, where nutrients and beneficial compounds can be rapidly absorbed. This method ensures that plants receive immediate benefits, particularly during critical growth stages such as flowering, fruiting, or periods of stress.

One of the primary advantages of foliar spray applications is the increased efficiency of nutrient use. By applying biostimulants directly to the foliage, plants can bypass the soil and root uptake processes, which can sometimes be slow or inefficient due to poor soil conditions. This direct absorption leads to quicker responses in plant growth and development, helping crops to recover from stress and optimize their photosynthetic activity.

Foliar sprays are also highly versatile and can be used across various crop types and growing conditions. This flexibility makes them an attractive option for farmers seeking to enhance crop productivity in different environments. Additionally, foliar sprays can be easily combined with other treatments, such as pesticides or fertilizers, in a single application, reducing labor and operational costs. This convenience further drives the popularity of foliar sprays in the market.

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Country/Region-wise Acumens

Will Highly Advance Agricultural Sector in Europe Mature Humic-Based Biostimulants Market?

The humic-based biostimulants market is dominated by Europe. Europe has a strong emphasis on sustainable agriculture and environmental protection, driven by stringent regulations and policies aimed at reducing the use of chemical inputs in farming. The European Union’s Common Agricultural Policy and initiatives like the European Green Deal promote the adoption of organic and sustainable farming practices, creating a favorable environment for the use of humic-based biostimulants. This regulatory support encourages farmers to switch to biostimulants as a means of enhancing crop yields while maintaining ecological balance.

Secondly, the agricultural sector in Europe is highly advanced, with widespread use of modern farming techniques and technologies. European farmers are generally well-informed about the benefits of biostimulants, including improved soil health, enhanced nutrient uptake, and increased crop resilience to stress. The high level of awareness and acceptance of biostimulants among European farmers drives market demand and adoption, further consolidating Europe’s leadership in this market.

Moreover, Europe has a well-established market for organic and sustainable agricultural products, with consumers willing to pay a premium for food produced using eco-friendly methods. This consumer preference for sustainably grown produce incentivizes farmers to adopt humic-based biostimulants, which are aligned with organic farming principles. The strong market for organic products in Europe thus directly contributes to the growth of the humic-based biostimulants market.

Furthermore, Europe is home to several leading manufacturers and research institutions focused on the development of biostimulants. The region’s robust research and development infrastructure supports the continuous innovation and improvement of humic-based biostimulant products, ensuring that they meet the specific needs of European agriculture. This focus on innovation and quality helps maintain Europe’s competitive edge in the global market..

Will Rising Disposable Incomes Enhance Adoption of Humic-Based Biostimulants in Asia Pacific?

Asia-Pacific is rapidly emerging as a key growth region for humic-based biostimulants, driven by the pressing need to increase agricultural productivity to meet the demands of a growing population. Countries like China, India, Japan, and South Korea are at the forefront of this growth, leveraging humic-based biostimulants to enhance soil health, improve crop yields, and promote sustainable farming practices. The region’s diverse agricultural sector benefits significantly from the adoption of these biostimulants, which help mitigate the effects of soil degradation and nutrient depletion.

The region’s rapid market growth is also propelled by advancements in agricultural technologies and increasing awareness among farmers about the benefits of humic-based biostimulants. Governments across Asia-Pacific are actively supporting sustainable agricultural initiatives through subsidies, education, and research programs aimed at promoting the use of eco-friendly farming inputs. These initiatives are helping to integrate biostimulants into mainstream agricultural practices, further accelerating market adoption and expansion.

Moreover, Asia-Pacific’s expanding middle class and rising disposable incomes are fueling demand for higher quality and sustainably produced food. Consumers are increasingly willing to pay a premium for products grown using environmentally friendly methods, driving farmers to adopt humic-based biostimulants. This growing consumer preference for sustainable agriculture products is expected to continue driving the rapid growth of the humic-based biostimulants market in Asia-Pacific, positioning the region as a major player in the global agricultural sector.

Competitive Landscape

The competitive landscape of the Humic-based Biostimulants market is dynamic and features a mix of established players with a global presence and newer entrants targeting niche markets. The established companies maintain their market dominance through a strong brand reputation, extensive distribution networks, and diversified product portfolios. These players are complemented by emerging companies that focus on innovative approaches and specialized products to meet the specific needs of different agricultural sectors. This competitive environment is conducive to the continuous development and introduction of new and improved Humic-based Biostimulants, catering to the evolving demands of sustainable agriculture

Some of the prominent players operating in the humic-based biostimulants market includeKoppert, Valagro SpA, Biolchim S.p.A, FMC Corporation, Haifa Group, UPL Ltd, Bayer AG, SIKKO industries ltd, NOVIHUM Technologies GmbH, HUMINTECH GMBH, BORREGAARD

Latest Developments

  • In May 2022, Koppert and UPL Ltd. partnered to promote sustainable agriculture in Spain and Portugal. Both companies start a collaboration at a technical and commercial level to facilitate the access of producers to biological solutions.
  • In June 2021, UPL Australia launched a new range of biostimulant products based on GoActiv technology, designed to address specific crop physiological or abiotic stresses in fruits, vegetables, vines, and tree crops. GoActiv Technology is based on a 100% pure extract from the Ascophyllum nodosum seaweed species.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2018-2031

Growth Rate

CAGR of ~ 11.53%from 2024 to 2031

Base Year for Valuation

2023

Historical Period

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • By Crop Type
  • By Formulation
  • By Application Method
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

• Koppert• Valagro SpA• Biolchim S.p.A• FMC Corporation• Haifa Group• UPL Ltd• Bayer AG• SIKKO industries ltd• NOVIHUM Technologies GmbH• HUMINTECH GMBH• BORREGAARD

Customization

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Humic-Based Biostimulants Market, By Category

Crop Type

  • Cereals
  • Fruits & Vegetables
  • Oilseeds & Pulses

Formulation

  • Liquid Form
  • Powder/Granular Form

Application Method

  • Foliar Spray
  • Soil Treatment
  • Seed Treatment

Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • Latin America

Research Methodology of Market Research

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