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India Biostimulants Market

India Biostimulants Market

India Biostimulants Market, By Active Ingredient (Amino Acid, Fulvic Acid, Humic Acid, Protein Hydrolysates, Seaweed Extracts); By Crop Type (Cash Crops, Horticultural Crops, Row Crops); By Application (Foliar Treatment, Soil Treatment, Seed Treatment); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24416
  • Available Format: PDF
  • Page: 200

Report Overview

An increasingly high focus on sustainable agriculture, a spurring demand for high-quality produce, and the government’s supportive initiatives are expected to drive the India Biostimulants Market during the forecast period between 2024 and 2030

India Biostimulants Market – Industry Trends & Forecast Report, 2030

The India Biostimulants Market size was estimated at USD 266.58 million in 2023. During the forecast period between 2024 and 2030, the India Biostimulants Market size is projected to grow at a CAGR of 15.57% reaching a value of USD 734.13 million by 2030. Prominent drivers of the market include the increasing agricultural activity aimed at producing high-quality and nutritious food for India's growing population. Notably, rising investments by the government and private companies to enhance yield per unit area contribute to market growth. However, concerns over the adverse impacts of synthetic chemicals like fertilizers and pesticides on soil health, the environment, and human well-being have escalated. Embracing eco-friendly practices such as inoculants offers a promising solution. These beneficial microorganisms can enhance plant health, reducing dependency on synthetic chemicals and fostering sustainability. As stakeholders advocate for sustainable farming methods, the market is poised for growth. Agricultural seminars serve as platforms for industry players to showcase the benefits of plant stimulants, reflecting a shift towards more environmentally conscious practices. Additionally, the growing consumer preference for organic food and the increasing adoption of organic farming methods are expected to further propel the market during the forecast period.

India Biostimulants Market

Biostimulants – Overview

Biostimulants are substances or microorganisms that are applied to plants, seeds, or soil to enhance plant growth, yield, and resilience. Unlike fertilizers, which directly provide nutrients, biostimulants work by improving the plant's natural processes, such as nutrient uptake, stress tolerance, and overall health. They include a variety of products such as humic acids, seaweed extracts, beneficial bacteria, and amino acids, and are increasingly used in agriculture to promote sustainable farming practices and improve crop performance.

India Biostimulants Market

Growth Drivers

Growing Focus on Sustainable Agriculture

Increasing numbers of Indian farmers are adopting biostimulants to boost crop yields sustainably. These compounds and microorganisms enhance plant growth and health by enriching soil microbes, improving stress resistance, and aiding nutrient uptake. Both organic and conventional farming in India are incorporating biostimulants, supported by the National Program for Organic Farming. Common biostimulants in India include seaweed extracts, humic and fulvic acids, amino acids, and beneficial microorganisms like mycorrhizal fungi and rhizobacteria. They are particularly effective under adverse conditions and reduce reliance on synthetic fertilizers and pesticides. Although their use is still new, biostimulants are gaining popularity. For small-scale farmers, biostimulants significantly enhance output and produce quality while rehabilitating degraded soils. This aligns with organic farming goals, emphasizing natural inputs to improve soil health, pest control, and crop yields.

Government’s Supportive Initiatives

India's reliance on agriculture is evident, with nearly half the population engaged in farming. Government initiatives, along with increasing awareness among farmers regarding the advantages of agrochemicals, are expected to drive the biostimulants market forward. The government's encouragement of agricultural biologicals, in response to consumer awareness about synthetic chemicals' adverse effects on health and the environment, has led to the establishment of regulations for biostimulants under the Fertilizer Control Amendment (FCA) 2021. These regulations enhance market confidence, fostering investment in research and development, thus facilitating the introduction of new, high-quality products beneficial to farmers.

Challenges

Price Sensitivity

Price sensitivity presents a significant barrier to the growth of the India biostimulants market. Many farmers, particularly those with small-scale operations, are highly sensitive to the costs associated with agricultural inputs. Biostimulants, although beneficial in enhancing crop productivity and sustainability, often come with a higher price tag compared to traditional fertilizers and pesticides. This price disparity discourages adoption, especially in regions where profit margins are slim. To overcome this challenge, efforts to reduce production costs and provide financial incentives or subsidies for biostimulant use are necessary to make them more accessible and appealing to Indian farmers.

Impact of Escalating Geopolitical Tensions on India Biostimulants Market

Geopolitical tensions can have a multifaceted impact on the India Biostimulants Market. Heightened instability and uncertainty may disrupt supply chains, leading to shortages of essential biostimulant ingredients or products. Trade barriers and sanctions imposed as a result of geopolitical conflicts could also restrict the import/export of biostimulants, affecting market availability and prices. Furthermore, geopolitical unrest may divert government attention and resources away from agricultural initiatives, hindering support for biostimulant research, development, and promotion. Overall, these factors create a challenging environment for the growth of the India biostimulants market amidst escalating geopolitical tensions.

India Biostimulants Market

Segmental Coverage

India Biostimulants Market – By Active Ingredient

By active ingredient, the India Biostimulants Market is divided into Amino Acid, Fulvic Acid, Humic Acid, Protein Hydrolysates, and Seaweed Extracts segments. The seaweed extracts segment holds the highest share in the India Biostimulants Market by active ingredient. Seaweed extracts, available in various forms such as LSF (Liquid Seaweed Fertilizer), granular, and powder, have been commercialized and proven effective in supporting cereals, pulses, and flowering plants. They are free of weed seeds and pathogens, making them a preferred choice. Foliar spraying with seaweed extract accelerates growth and enhances yield in cereals, vegetables, fruits, and horticultural crops. Recent research focuses on innovative methods for seaweed preparation to further increase agricultural yield, ensuring their continued prominence in the market. Meanwhile, the humic acid segment holds the second highest share in the India Biostimulants Market by active ingredient. Both producers and consumers increasingly favor Humic Substances (HS) due to their ability to mimic hormones, impacting sugar metabolism and inducing internal chemical shifts within plants. Recognized for their role in enhancing soil's physicochemical properties, HS primarily stimulate root growth and bolster plant nutrition by augmenting soil nutrient content. Also, the amino acid segment is expected to witness the fastest growth rate during the forecast period. The surge is attributed to the increasing recognition of amino acids' role in enhancing plant growth, stress resistance, and nutrient uptake, driving their adoption in agricultural practices for improved crop yields and quality.

India Biostimulants Market Demand

India Biostimulants Market – By Crop Type

Based on crop type, the India Biostimulants Market is divided into Cash Crops, Horticultural Crops, and Row Crops segments. The horticultural crops segment holds the highest share in the India Biostimulants Market by crop type. The trend aims to enhance crop production quality and meet export requirements. Biostimulants play a crucial role in optimizing root structure and nutrient absorption in crops. Consequently, their utilization in fruits & vegetables is increasing notably in India. Also, biostimulants offer benefits such as transportation resilience and extended shelf life for these produce, further fueling demand in the Indian market and indicating sustained growth prospects in the future.

India Biostimulants Market Size

India Biostimulants Market – By Application

Based on application, the India Biostimulants Market is divided into Foliar Treatment, Soil Treatment, and Seed Treatment segments. The foliar treatment holds the highest share in the India Biostimulants Market by application. It is primarily due to its rapid and efficient treatment of nutritional deficiencies, preparing crops for potential stresses like drought, cold, or heat. This method quickly addresses urgent mineral nutrition needs, making it effective for both preventive and corrective measures against stressors. The seed treatment is expected to witness the fastest growth rate during the forecast period. It is primarily due to its positive impact on plant resilience, root system development, and crop productivity. This method enhances yields by fortifying plants against pathogens and reducing biotic stress. Also, its ability to enhance plant nutrient availability contributes to its expanding popularity.

India Biostimulants Market Share

India Biostimulants Market – By Region

Geographically, the India Biostimulants Market is divided into North India, South India, East India, and West India regions. North India is expected to hold the highest share in the India Biostimulants Market during the forecast period. Punjab, renowned for its fertile soil and significant wheat cultivation, epitomizes intensive agricultural practices in India. Firozepur district stands out as the leading producer of wheat and rice. The growing cultivation of these valuable crops fuels demand for biostimulants, aimed at fostering nutrient-rich and premium-quality yield without soil degradation caused by chemical inputs. Consequently, Punjab's biostimulants market thrives on the pursuit of sustainable agricultural practices and enhanced crop productivity.

Competitive Landscape

Major players operating in India Biostimulants Market include Novozymes, BASF, Valagro, Rallis India Ltd (India), Gujarat State Fertilizers & Chemicals Limited, Syngenta, Southern Petrochemicals Industries Corporation, UPL Limited, Eastman Chemical Company, AgriLife, and Acadian Seaplant Ltd. 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 April 2024 - UPM Biochemicals introduced UPM Solargo, a new line of bio-based plant stimulants, marking its entry into the agrochemical market. UPM Solargo is said to enhance crop growth by improving soil microbiome quality and water retention, aiding nutrient absorption and stress tolerance without directly providing nutrients.

  • In December 2023 - Inera Cropscience launched Leiro, its latest range of biostimulants and seed coatings.

  • In June 2023 - Godrej Agrovet Limited's (GAVL) Crop Protection Business celebrated 25 years of its biostimulant, Double, known for enhancing crop yield. The company unveiled new user-friendly packaging with enhanced security features to combat counterfeit products.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

USD Million

Market Coverage

India 

Product/ Service Segmentation

Active Ingredient, Crop Type, Application, Region

Key Players

Novozymes, BASF, Valagro, Rallis India Ltd (India), Gujarat State Fertilizers & Chemicals Limited, Syngenta, Southern Petrochemicals Industries Corporation, UPL Limited, Eastman Chemical Company, AgriLife, Acadian Seaplant Ltd

 

By Active Ingredient

  • Amino Acid

  • Fulvic Acid

  • Humic Acid

  • Protein Hydrolysates

  • Seaweed Extracts

By Crop Type

  • Cash Crops

  • Horticultural Crops

  • Row Crops

By Application

  • Foliar Treatment

  • Soil Treatment

  • Seed Treatment

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Biostimulants Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing Focus on Sustainable Agriculture
        2. Rising Demand for High-Quality Produce
        3. Increasing Government Initiatives
      2. Restraints
        1. Limited Awareness
        2. Price Sensitivity
      3. Opportunities
        1. Technological Advancements
        2. Expanding Product Range
        3. Focus on Education and Extension Services
      4. Challenges
        1. Competition from Traditional Fertilizers
        2. Fragmented Market
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. 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. India Biostimulants Market: Pricing Analysis
  5. India Biostimulants Market: Marketing Strategies
  6. India Biostimulants Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Active Ingredient
        1. Amino Acid
        2. Fulvic Acid
        3. Humic Acid
        4. Protein Hydrolysates
        5. Seaweed Extracts
      2. By Crop Type
        1. Cash Crops
        2. Horticultural Crops
        3. Row Crops
      3. By Application
        1. Foliar Treatment
        2. Soil Treatment
        3. Seed Treatment
      4. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  7. North India Biostimulants Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Active Ingredient
      2. By Crop Type
      3. By Application
  8. South India Biostimulants Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Active Ingredient
      2. By Crop Type
      3. By Application
  9. East India Biostimulants Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Active Ingredient
      2. By Crop Type
      3. By Application
  10. West India Biostimulants Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Active Ingredient
      2. By Crop Type
      3. By Application
  11. India Biostimulants Market: Import & Export
  12. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Biostimulants Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operation Channel Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
  13. Impact of Escalating Geopolitical Tensions in India Biostimulants Market
  14. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Novozymes
    2. BASF
    3. Valagro
    4. Rallis India Ltd (India)
    5. Gujarat State Fertilizers & Chemicals Limited
    6. Syngenta
    7. Southern Petrochemicals Industries Corporation
    8. UPL Limited
    9. Eastman Chemical Company
    10. AgriLife
    11. Acadian Seaplant Ltd
    12. Other Prominent Players

Key Strategic Recommendations

  1. 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 Region
    5. Assumption & Limitation

 

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

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

 

List of Figures

 

Figure 1       India Biostimulants Market Segmentation

Figure 2       India Biostimulants Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Biostimulants Market Size, By Value (USD Million), 2019–2030

Figure 5       India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Figure 6       India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Figure 7       India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Figure 8       India Biostimulants Market Share, By Region, By Value (USD Million) 2019–2030

Figure 9       North India Biostimulants Market Size, By Value (USD Million), 2019–2030

Figure 10     North India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Figure 11     North India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Figure 12     North India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Figure 13     South India Biostimulants Market Size, By Value (USD Million), 2019–2030

Figure 14     South India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Figure 15     South India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Figure 16     South India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Figure 17     East India Biostimulants Market Size, By Value (USD Million), 2019–2030

Figure 18     East India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Figure 19     East India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Figure 20     East India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Figure 21     West India Biostimulants Market Size, By Value (USD Million), 2019–2030

Figure 22     West India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Figure 23     West India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Figure 24     West India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

 

List of Tables     

 

Table 1        India Biostimulants Market Size, By Value (USD Million), 2019–2030

Table 2        India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Table 3        India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Table 4        India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Table 5        India Biostimulants Market Share, By Region, By Value (USD Million) 2019–2030

Table 6        North India Biostimulants Market Size, By Value (USD Million), 2019–2030

Table 7        North India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Table 8        North India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Table 9        North India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Table 10      South India Biostimulants Market Size, By Value (USD Million), 2019–2030

Table 11      South India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Table 12      South India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Table 13      South India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Table 14      East India Biostimulants Market Size, By Value (USD Million), 2019–2030

Table 15      East India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Table 16      East India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Table 17      East India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Table 18      West India Biostimulants Market Size, By Value (USD Million), 2019–2030

Table 19      West India Biostimulants Market Share, By Active Ingredient, By Value (USD Million) 2019–2030

Table 20      West India Biostimulants Market Share, By Crop Type, By Value (USD Million) 2019–2030

Table 21      West India Biostimulants Market Share, By Application, By Value (USD Million) 2019–2030

Table 22    Novozymes Company Overview

Table 23    Novozymes Financial Overview

Table 24    BASF Company Overview

Table 25    BASF Financial Overview

Table 26    Valagro Company Overview

Table 27    Valagro Financial Overview

Table 28    Rallis India Ltd (India) Company Overview

Table 29    Rallis India Ltd (India) Financial Overview

Table 30    Gujarat State Fertilizers & Chemicals Limited Company Overview

Table 31    Gujarat State Fertilizers & Chemicals Limited Financial Overview 

Table 32    Syngenta Company Overview

Table 33    Syngenta Financial Overview

Table 34    Southern Petrochemicals Industries Corporation Company Overview

Table 35    Southern Petrochemicals Industries Corporation Financial Overview

Table 36    UPL Limited Company Overview

Table 37    UPL Limited Financial Overview

Table 38    Eastman Chemical Company Overview

Table 39    Eastman Chemical Company Financial Overview

Table 40    AgriLife Company Overview

Table 41    AgriLife Financial Overview

Table 42    Acadian Seaplant Ltd Company Overview

Table 43    Acadian Seaplant Ltd Financial Overview

Table 44    Other Prominent Players Company Overview

Table 45    Other Prominent Players Financial Overview
 

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: India Biostimulants Market size by value was estimated at USD 266.58 million in 2023.
Ans: India Biostimulants Market by value is expected to grow at a CAGR of 15.57% during the forecast period between 2024 and 2030.
Ans: India Biostimulants Market size is forecast to reach a value of USD 734.13 million by 2030.
Ans: The growth of the India Biostimulants Market is primarily driven by The growing focus on sustainable agriculture, rising demand for high-quality produce, and increasing government initiatives.
Ans: The seaweed extracts segment is expected to grow at the highest CAGR in the India Biostimulants Market during the forecast period between 2024 and 2030.
Ans: The horticultural crops segment holds a major share in the India Biostimulants Market by crop type.
Ans: The foliar treatment segment is expected to grow at the highest CAGR in the India Biostimulants Market during the forecast period between 2024 and 2030.