India Biostimulants Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Active Ingredients (Humic Acid, Fulvic Acid, Amino Acids, Protein Hydrolysates, Seaweed Extracts, Other Active Ingredients), By Origin (Natural Biostimulants, Biosynthetic Biostimulants), By Application (Foliar, Soil, Seed), And By Crop Type (Cereals, Oilseeds, Fruits And Vegetables, Turf And Ornamental, Other Crop Types) - Forecasts From 2022 To 2027

Published:  Mar 2022 Report Code: KSI061610778 Pages: 86

The India biostimulants market is projected to grow at a CAGR of 14.06% during the forecast period to reach US$145.947 million by 2027, from US$58.112 million in 2020.

Biostimulants are substances that improve plant growth, resilience to water, and tolerance to abiotic stresses while reducing the need for fertilizers. These compounds are effective in modest quantities, promoting the smooth operation of the plant's critical activities and allowing for high yields and high-quality products. Furthermore, regardless of nutrient content, biostimulants improve nutrition efficiency, abiotic stress tolerance, and plant quality attributes. The market for biostimulants in India is expected to be driven by rising investment and the need to boost yield per acre. Furthermore, increased demand for organic food will drive up demand for organic farming, which will increase the need for biostimulants.

Increased demand for organic food is expected to drive the market for biostimulants in India.

Following the pandemic in 2020, a paradigm change occurred in India, with consumers beginning to purchase more organic goods as a preventive health strategy. This shift in perspective is anticipated to continue to fuel the organic food market's growth in the future. This will further increase the demand for the biostimulants market in the country. According to the Research Institute of Organic Agriculture (FiBL) and International Federation of Organic Agriculture Movements (IFOAM) Organics International Report 2021, India ranks first in Asia and fifth globally with 23 lakh hectares under organic farming. Moreover, as per a FiBL report from 2021, India expanded the fastest by adding about 3.6 lakh hectares of organic land. It also expects India's organic industry to grow faster, owing to the increased demand for organic products during the COVID-19 outbreak.

Biostimulants play a significant role in crop nutrition and crop protection in organic farming and gardening. According to an ASSOCHAM report, the Indian organic industry was worth over Rs 1,200 crore in 2019 and was expected to reach 2,000 crores in 2020. This momentum is projected to grow in strength and force in the coming years because consumers are increasingly gravitating toward healthy and organic foods. This movement has caught fire and is being fanned furthermore by the health anxieties stoked by the corona contagion. Moreover, as per APEDA statistics, Indian organic exports increased by 50% from the previous year to 5,151 crores in 2018/19. In addition, India's export of organic food items increased by 51% to US$1,040 million in the fiscal year 2020-21, according to a report provided by the Ministry of Commerce & Industry.

Major developments by the government and key players in the market will further accelerate the growth of biostimulants in India.

The Indian government announced in April 2021 that biostimulants would be governed by the same standards that regulate fertilizer and other crop nutrients used to boost soil health. This will aid in the regulation of the 1,500 crore biostimulant sector, which promises farmers increased yields, quality, and other benefits through the usage of various chemicals and microbes. In addition to this, in May 2021, Acadian Seaplants Ltd (ASL), a Canadian firm, produced the first seaweed-based biostimulants in India to help farmers increase their agricultural productivity. The company's Indian subsidiary plans to assist farmers in meeting the rising demand for high-quality, natural biostimulants and bio-nutritional products that boost crop output, quality, and farmers' return on investment over time.

In March 2021, Sea6 Energy, a Bengaluru-based firm, received the country's first patent on a new biostimulant product. Sea6 Energy has discovered and patented several unique compounds derived from grown red seaweeds that can particularly induce these effects in plants, and these compositions are the subject of their patents. Moreover, in May 2019, AlgaEnergy, a Spanish biotech company, and Krishi Rasayan Exports (KREPL) formed a joint venture to manufacture bio-stimulants based on microalgae that improve soil health, with plans to invest US$ 20 million in the business over the next three to four years. The technology solution provided by the Spanish company can be used not only in agriculture and aquaculture but also in human and plant nutrition, cosmetics, and other fields. All these developments are expected to contribute to the growth of the biostimulants market in India.

COVID-19 Insights

COVID-19 had a positive impact on the biostimulants market in the country as consumers are paying more attention to health, convenience, and sustainability. People are becoming more aware of the importance of chemical-free and organic foods in boosting immunity and improving overall health. This pandemic has influenced consumer behavior in favor of organic produce to the point where it may become an integrated part of people's shopping habits. For instance, organic food sales at Modern Bazaar, a North Indian modern trade retail chain, have increased by 25%. Similarly, Natureland Organics, an organic food firm based in Rajasthan, has seen a 60 percent increase in sales. In addition, India has around 15,000 certified organic farms, according to the International Fund for Agriculture and Development (IFAD). 

India Biostimulants Market Scope:

Report Metric Details
 Market size value in 2020  US$58.112 million
 Market size value in 2027  US$145.947 million
 Growth Rate  CAGR of 14.06% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments covered  Active Ingredient, Origin, Application, And Crop Type
 Companies covered  AgriLife, Tradecorp APAC Pty. Ltd., Acadian Seaplants Ltd., Isagro, Valagro, Bayer   AG, Koppert B.V., Eastman Chemical Company, Biostadt India Ltd, BASF
 Customization scope  Free report customization with purchase

 

Key Market Segments

  • By Active Ingredient
    • Humic Acid
    • Fulvic Acid
    • Amino Acids
    • Protein Hydrolysates
    • Seaweed Extracts
    • Other Active Ingredients
  • By Origin
    • Natural Biostimulants
    • Biosynthetic Biostimulants
  • By Application
    • Foliar
    • Soil
    • Seed
  • By Crop Type
    • Cereals
    • Oilseeds
    • Fruits and Vegetables
    • Turf and Ornamental
    • Other Crop Types
1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. INDIA BIOSTIMULANTS MARKET, BY ACTIVE INGREDIENT 
5.1. Introduction
5.2. Humic Acid
5.3. Fulvic Acid
5.4. Amino Acids
5.5. Protein Hydrolysates
5.6. Seaweed Extracts
5.7. Other Active Ingredients

6. INDIA BIOSTIMULANTS MARKET, BY ORIGIN
6.1. Introduction
6.2. Natural Biostimulants
6.3. Biosynthetic Biostimulants

7. INDIA BIOSTIMULANTS MARKET, BY APPLICATION
7.1. Introduction
7.2. Foliar
7.3. Soil
7.4. Seed

8. INDIA BIOSTIMULANTS MARKET, BY CROP TYPE
8.1. Introduction
8.2. Cereals
8.3. Oilseeds
8.4. Fruits and Vegetables
8.5. Turf and Ornamental
8.6. Other Crop Types

9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES
10.1. AgriLife
10.2. Tradecorp APAC Pty. Ltd.
10.3. Acadian Seaplants Ltd. 
10.4. Isagro
10.5. Valagro
10.6. Bayer AG
10.7. Koppert B.V.
10.8. Eastman Chemical Company
10.9. Biostadt India Ltd
10.10. BASF

AgriLife

Tradecorp APAC Pty. Ltd.

Acadian Seaplants Ltd.

Isagro

Valagro

Bayer AG

Koppert B.V.

Eastman Chemical Company

Biostadt India Ltd

BASF

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