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.

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 – 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 – 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 – 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

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