Report Overview

Asia Pacific Biostimulants Market - Industry Trends & Forecast Report, 2029

Asia-Pacific biostimulants market size was estimated to be worth USD 707.26 million in 2022. During the forecast period between 2023 and 2029, the Asia-Pacific biostimulants market size is projected to grow at a CAGR of 10.25%, reaching a value of USD 1,270.46 million by 2029. Major growth factors for the Asia-Pacific biostimulants market include rising demand for agricultural produce along with increasing adoption of sustainable agricultural practices. Furthermore, a substantial increase in demand for organic food and extensive research and development activities in the sector is anticipated to provide lucrative growth opportunities to the Asia-Pacific biostimulants market during the forecast period.

Asia Pacific Biostimulants Market – Overview

Biostimulants are compounds, either natural or synthetic, that may be administered to seeds, plants, and soil. These compounds alter critical and structural processes to impact plant development, boost seed and/or grain production and quality, and improve resistance to abiotic challenges. These stimulants are biological and are applied to boost plant productivity. Several processes are involved in the production of biostimulants such as cultivation, extraction, fermentation, processing and purification, hydrolysis, and high-pressure cell rupture treatment.

Asia-Pacific Biostimulants Market

Growth Drivers

Extensive Research and Development Activities

The rising demand for biostimulants is attractive extensive research activities in the domain from both public and private players. Scientists at India's Central Salt and Marine Chemical Research Institute are developing seaweed-based biostimulants that are predicted to boost agricultural output by 37%. Azelis, a specialty chemical and food ingredients provider based in Belgium, and Novozymes, a global biosolutions company, announced the expansion in their partnership to provide bio-based agricultural products, including biostimulants, in Malaysia. Such innovations and expansions are anticipated to provide lucrative growth opportunities to the Asia-Pacific biostimulants market during the forecast period.

Restraints

Deepening Penetration of Low Quality and Fake Biostimulants

One of the significant restraints on the growth of the biostimulants market is the prevalence of low-quality and counterfeit biostimulants in the Asia-Pacific market. These counterfeits of biostimulants damage the crop and cause huge losses to the farmers given that biostimulants are costlier than chemicals. Furthermore, in certain countries, the lack of strict government legislation against marketers of these counterfeit products is hampering the expansion of the biostimulants market.

Asia-Pacific Biostimulants Market

Segmental Coverage

Asia-Pacific Biostimulants Market – By Active Ingredients

Based on active ingredients, the Asia-Pacific biostimulants market is segmented into amino acids, fulvic acid, humic acid, protein hydrolysates, seaweed extracts, and others. The amino acids segment holds the largest share in the Asia-Pacific biostimulants market by active ingredients. These active compounds are extremely beneficial to plant development, yield, and nutrition yield efficiency. Plants employ amino acids to make proteins, which are required for a variety of metabolic activities. Glycine and glutamic acid are two of the most widely utilized amino acids in agriculture, where they act as metabolites in the production of vegetable tissue and chlorophyll synthesis.

Asia-Pacific Biostimulants Market – By Form

Based on form, the Asia-Pacific biostimulants market is split into liquid and dry. The liquid biostimulant segment accounts for a higher share in the market. This is because the liquid is thought to be convenient for both application and transportation. Furthermore, the liquid form is easily absorbed by plants via their roots, increasing nutrient intake and consequently cellular activity.

Asia-Pacific Biostimulants Market – By Crop Type

Based on crop type, the Asia-Pacific biostimulants market is segmented into cash crops, horticultural crops, and row crops. The row crops segment holds the highest share in the Asia-Pacific biostimulants market by crop type. The growth of the segment is mainly attributed to the rising demand for row crops, including potato, maize, buckwheat, cotton, and soybeans. The horticulture crops segment also holds a substantial market share. Fruits and vegetables, as well as medicinal plants, are in high demand in major Asia-Pacific countries, such as Japan and India, contributing to the market expansion.

Asia-Pacific Biostimulants Market – By Mode of Application

Based on the mode of application, the Asia-Pacific biostimulants market is divided into foliar, soil treatment, and seed treatment segments. The foliar treatment segment accounts for the highest share in the market by mode of application. This method of application delivers liquid fertilizers directly to nutrient-deficient plants. This increases overall absorption capacity through the roots, resulting in quick positive effects. The soil treatment segment also holds a significant market share owing to the rising levels of contaminants in soils, such as heavy metals, pesticides, and lead.

Asia-Pacific Biostimulants Market – By Region

The in-depth report on Asia-Pacific biostimulants market covers a number of country-specific markets, including China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and the rest of APAC. China dominates the Asia-Pacific biostimulants market owing to the strong agriculture sector of the country. China is the world's biggest producer of grains, cotton, and different fruits and vegetables, according to the Food and Agriculture Organization. The rising demand for organic produce in China is projected to have a favorable impact on the demand for biostimulants in the country.

Competitive Landscape

Major players operating in the Asia-Pacific biostimulants market include Biolchim SpA, Biostadt India Limited, Gujarat State Fertilizers & Chemicals Ltd., T. Stanes and Company Limited, Valagro, Koppert Biological Systems, Trade Corporation International, Syngenta, and Novozymes.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In November 2022 - Yara, a crop nutrition solution provider, signed an agreement with Sea6 Energy to market and distribute its biostimulant ‘AG Boost’ in India.

Scope of the Report

By Active Ingredients

• Amino Acids

• Fulvic Acid

• Humic Acid

• Protein Hydrolysates

• Seaweed Extracts

• Others

By Form

• Liquid

• Dry

By Crop Type

• Cash Crops

• Horticultural Crops

• Row Crops

By Mode of Application

• Foliar

• Soil Treatment

• Seed Treatment

By Country

• China

• India

• Japan

• South Korea

• Australia & New Zealand

• Indonesia

• Malaysia

• Singapore

• Vietnam

• Rest of APAC

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Asia-Pacific Biostimulants Market Insights
   1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
         1. Growing adoption of sustainable agriculture practices
         2. Favorable Government initiatives
      3. Restraints
         1. Regulatory challenges
         2. Limited consumer awareness
      4. Opportunities
         1. Emerging markets
         2. Research and development
      5. Challenges
         1. Competition
         2. Product efficacy
   2. Technological Advancements/Recent Developments
   3. Regulatory Framework
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Asia-Pacific Biostimulants Market Overview
   1. Market Product & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Active Ingredients
         1. Amino Acids
         2. Fulvic Acid
         3. Humic Acid
         4. Protein Hydrolysates
         5. Seaweed Extracts
         6. Others
      2. By Form
         1. Liquid
         2. Dry
      3. By Crop Type
         1. Cash Crops
         2. Horticultural Crops
         3. Row Crops
      4. By Mode of Application
         1. Foliar
         2. Soil Treatment
         3. Seed Treatment
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Australia & New Zealand
         6. Indonesia
         7. Malaysia
         8. Singapore
         9. Vietnam
         10. Rest of APAC
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Asia-Pacific Biostimulants Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Asia-Pacific Biostimulants Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Biolchim SpA
   2. Biostadt India Limited
   3. Gujarat State Fertilizers & Chemicals Ltd.
   4. T. Stanes and Company Limited
   5. Valagro
   6. Koppert Biological Systems
   7. Trade Corporation International
   8. Syngenta
   9. Novozymes
   10. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.  Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Country
   5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Asia-Pacific Biostimulants Segmentation

Figure 2       Asia-Pacific Biostimulants Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Asia-Pacific Biostimulants Market Size, By Value (USD Million), 2019–2029

Figure 5       Asia-Pacific Biostimulants Market Share, By Active Ingredients, By Value, 2019–2029

Figure 6       Asia-Pacific Biostimulants Market Share, By Form, By Value, 2019–2029

Figure 7       Asia-Pacific Biostimulants Market Share, By Crop Type, By Value, 2019–2029

Figure 8       Asia-Pacific Biostimulants Market Share, By Mode of Application, By Value, 2019–2029

Figure 9       Asia-Pacific Biostimulants Market Share, By Country, By Value, 2019–2029

List of Tables

Table 1        Asia-Pacific Biostimulants Market Size, By Value (USD Million), 2019–2029

Table 2        Asia-Pacific Biostimulants Market Size, By Active Ingredients, By Value, 2019–2029

Table 3        Asia-Pacific Biostimulants Market Size, By Form, By Value, 2019–2029

Table 4        Asia-Pacific Biostimulants Market Size, By Crop Type, By Value, 2019–2029

Table 5        Asia-Pacific Biostimulants Market Size, By Mode of Application, By Value, 2019–2029

Table 6        Asia-Pacific Biostimulants Market Size, By Country, By Value, 2019–2029

Table 7        Biolchim SpA Company Overview

Table 8        Biolchim SpA Financial Overview

Table 9        Biostadt India Limited Company Overview

Table 10      Biostadt India Limited Financial Overview

Table 11      Gujarat State Fertilizers & Chemicals Ltd. Company Overview

Table 12      Gujarat State Fertilizers & Chemicals Ltd. Financial Overview

Table 13      T. Stanes and Company Limited Company Overview

Table 14      T. Stanes and Company Limited Financial Overview

Table 15      Valagro Company Overview

Table 16      Valagro Financial Overview

Table 17      Koppert Biological Systems Company Overview

Table 18      Koppert Biological Systems Financial Overview

Table 19      Trade Corporation International Company Overview

Table 20      Trade Corporation International Financial Overview

Table 21      Syngenta Company Overview

Table 22      Syngenta Financial Overview

Table 23      Novozymes Company Overview

Table 24      Novozymes Financial Overview