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New report sees strong future growth potential for
Biostimulants
IHS Markit Crop Science's Biostimulants 2020 is a
complete update of an Agrow report last published in 2018. It
provides a quantitative and qualitative overview of the
biostimulants market, which comprises a diverse group of substances
and microorganisms that can modify a plant's physiology to improve
its efficiency and resilience.
Farmers apply biostimulant products to crop seeds, to soil, or
as a foliar spray, to improve yield and or quality. Confusingly,
biostimulants also sometimes go by other names, such as elicitors,
plant strengtheners and conditioners, phytostimulants,
phytoprotectants, biofertilisers, bioactivators, or soil, yield,
crop and plant growth enhancers.
The agricultural biostimulant market is split into: row crops
(including cereals); fruit and vegetables; turf and ornamentals;
and others. Usage is split nearly evenly between the first two
categories, which together represent some 80% of the total market.
While row crops and cereals use a lower volume of biostimulants on
a per hectare basis than fruit and vegetables, these crops cover a
much larger total area.
The general consensus is that the global market for
biostimulants was estimated to be worth around $2.2 billion in 2019
and that it is growing with a CAGR of over 10%. This compares with
a figure of $2 billion for 2017 and $1.5 billion for 2015. We see
this rising to between $6.3 and $7 billion by 2026/27, based on
current highly positive growth rates.
Legislation
The rapid growth in the market for biostimulants has outpaced
the development of legislation to regulate this sector. On an
international level, there is also a lack of standards covering the
products. The International Organization for Standardization (ISO)
has started work to create an ISO standard on biostimulant
terminology. The report covers the current situation in the
European Union, the United States, and India.
The EU finalised in 2019 legislation that covers biostimulants.
The European Commission published its proposals for a new EU
regulation in 2016. These were considered by the European
Parliament, which adopted its negotiating mandate in October 2017.
The European Commission, Parliament and Council negotiated to reach
an agreement on the proposals, and the legislation was finally
agreed in March 2019. The regulation entered into force on 15 July
2019.
The full application of the regulation (i.e. when the first
EC-marked fertilising products, including biostimulants, can be
placed on the Union market) will be on 16 July 2022. To ensure
implementation of the new Fertilizing Products regulation,
harmonized standards are currently being developed by the CEN and
expected to be released by 2022.
Report structure
Chapter 1: Introduction to the segment: what they are; how they
work; their benefits; types of product
Chapter 2: Biostimulant market: size of the segment and key
drivers
Chapter 3: Regions: the key global regions where biostimulants
are used
Chapter 4: Crops: the major targets; row and cereals, fruit and
veg, turf, ornamentals, organic vs conventional
Chapter 5: Application and formulation: main methods of
applications, including seed treatments; main formulation
methods
Chapter 6: R&D investment; strategies supporting development
of biostimulants, significant start-ups, investor companies
Chapter 7: Legislation: overview of frameworks in EU, US, India,
China, Brazil, S. Africa, Mexico
Chapter 8: Companies - background information on types of
company active in the segment and the industry associations
Chapter 9: Companies - profiles of the major companies
About the Author
Marina Altman is a business intelligence specialist and writer.
She graduated from ETH Zurich with a Master's Degree in Management,
Technology and Economics and wrote her Master Thesis on the "Future
potential of grain production in Russia". She worked for several
years at Syngenta in the Business Intelligence Department and has
been working since then as freelance author of agricultural reports
and competitive analysis.
