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Report
South America Biostimulants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The South America Biostimulants Market size is estimated at USD 480.37 million in 2024, and is expected to reach USD 823.78 million by 2029, growing at a CAGR of 11.39% during the forecast period (2024-2029).
Key Highlights
-Seaweed Extracts is the Largest Form : Seaweed extract biostimulants shows beneficial effects on plants increases overall plant growth and productivity and increases resistance to biotic and abiotic stresses.
-Amino Acids is the Fastest-growing Form : Amino acids plays important role in enhancing plant productivity especially, under stress conditions. Row crops dominated the amino acids market with a share of 82.7% in 2022.
-Row Crops is the Largest Crop Type : The major row crops cultivated include Barley, Corn, Rice, Sorghum, Soybean, Sunflower, and Wheat. In 2022, field crops having 2.3 lakh hectares Organic acreage.
-Brazil is the Largest Country : In Brazil, cash crops holding more organic acreage share accounted for about 86.1% in 2022. Cotton, Sugarcane, and coffee are the major cash crops grown in the country.
South America Biostimulants Market Trends
Seaweed Extracts is the largest Form
- In the South American biostimulant market, many biostimulants are used as active ingredients, including humic acids, fulvic acids, amino acids, protein hydrolysates, seaweed extracts, chitosan, biopolymers, and other biostimulants such as plant and animal derivatives. Between 2017 and 2022, the value of the biostimulants market in the region increased by 21.4%.
- The extreme crop stress of Argentina's historic drought season helped demonstrate the powerful effects of biostimulants under difficult growing conditions for corn and soybean. Row crops accounted for 78.3% of the biostimulants market value in 2022. This is due to row crops accounting for approximately 82.3% of the total organic crop area in the region in 2022. Cash crops and horticultural crops accounted for 16.1% and 5.6% of total biostimulants, respectively.
- In South America, seaweed extract biostimulants held the largest market share, amounting to 51.8% in 2022. With a consumption volume of 26.5 thousand metric tons, the segment was worth USD 199.9 million in 2022. This is due to their ability to improve overall plant health, stress tolerance, root growth, nutrition and water intake, plant growth, and crop yield. Seaweed extracts improve the nutrient uptake and translocation in crops such as maize, oilseed, rapeseed, tomato, wheat, and soybean.
- Amino acids are the second most consumed biostimulants in the region, with consumption increasing by 20.9% between 2017 and 2022, from 9.2 thousand metric tons in 2017 to 11.2 thousand metric tons in 2022, owing primarily to the region's increasing trend toward sustainable or organic agriculture. The biostimulants market value is anticipated to grow by 89.4% between 2023 and 2029.
Brazil is the largest Country
- The South American biostimulants market is experiencing significant growth, driven by the region's focus on low-carbon agriculture and the need to feed a growing global population. The usage of both microbial and non-microbial biostimulants in agriculture can lead to substantial reductions in greenhouse gas emissions, making it a top priority for South American nations.
- Brazil is the largest market for biostimulants in the region, accounting for 64% of the market share. However, the expansion of agriculture for commodity production has resulted in severe erosion of arable land. To address this issue, Brazil aims to meet the United Nations' soil restoration goal well before 2030 by inoculating degraded lands with beneficial soil microbes, including more effective biostimulants.
- Argentina is a leading country in terms of organic food production in South America, with major organic exports, including cereals, oilseeds, fruits, and sugarcane. The rise in domestic and international demand for organic products is driving the growth of the biostimulants market in the country, which is expected to register a CAGR of 12.52% during the forecast period.
- The growing awareness among farmers in the region about the benefits of organic agriculture is another factor driving the market growth of organic inputs such as biostimulants. Farmers are considering organic agriculture as an alternative to maintain and protect their local resources and avoid damage to the environment. The biostimulants market in South America is projected to register a CAGR of 10.8% during the forecast period (2023-2029), indicating significant potential for the region's agriculture industry.
South America Biostimulants Industry Overview
The South America Biostimulants Market is fragmented, with the top five companies occupying 7.24%. The major players in this market are Biolchim SpA, Humic Growth Solutions Inc., Koppert Biological Systems Inc., Trade Corporation International and Vittia Group (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Area Under Organic Cultivation
4.2 Per Capita Spending On Organic Products
4.3 Regulatory Framework
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 Form
5.1.1 Amino Acids
5.1.2 Fulvic Acid
5.1.3 Humic Acid
5.1.4 Protein Hydrolysates
5.1.5 Seaweed Extracts
5.1.6 Other Biostimulants
5.2 Crop Type
5.2.1 Cash Crops
5.2.2 Horticultural Crops
5.2.3 Row Crops
5.3 Country
5.3.1 Argentina
5.3.2 Brazil
5.3.3 Rest Of South America
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Atlantica Agricola
6.4.2 Biolchim SpA
6.4.3 Haifa Group
6.4.4 Humic Growth Solutions Inc.
6.4.5 Koppert Biological Systems Inc.
6.4.6 Plant Response Biotech Inc.
6.4.7 Sigma Agriscience LLC
6.4.8 Trade Corporation International
6.4.9 Valagro
6.4.10 Vittia Group
7 KEY STRATEGIC QUESTIONS FOR AGRICULTURAL BIOLOGICALS CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
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