Report : Middle East & Africa Biostimulants Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Humic Substance, Amino Acids, Microbial Stimulants, Seaweed Extracts, and Others), Mode of Application (Foliar Spray, Seed Treatment, Soil Application), and Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and vegetables, Turf and Landscape, and Others)
At 9.6% CAGR, the Middle East & Africa Biostimulants Market is speculated to be worth US$ 289.99 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa biostimulants market was valued at US$ 167.54 million in 2022 and is expected to reach US$ 289.99 million by 2028, registering an annual growth rate of 9.6% from 2022 to 2028. Heighten use of biostimulants as an alternative due to the rise in the price of conventional fertilizers and extension in organic production practices.
Biostimulants can be a mixture of substances or microorganisms that help improve the crop condition without affecting any harmful impact on the environment. Biostimulants can be used as a preservative to fertilizers and, thus, reduce fertilizer use. It can also help nutrient uptake, plant growth, and tolerance against abiotic stress. The high use of chemical fertilizers has been affecting water bodies. Nutrients are washed off farms and reach nearby rivers, lakes, and ponds, causing eutrophication. Besides, chemical fertilizers have low use efficiency. It means that plants uptake only a mixture of nutrients from fertilizers. For example, essential nutrients, such as phosphorus, precipitate after being added to the soil and thus remain less available for plants. Also, Nitrogen, another essential nutrient, can become absent due to factors, such as nitrate leaching.
On the contrary, absence legal compliance in biostimulants industry.
- Based on product, the Middle East & Africa biostimulants market is segmented into humic substances, amino acids, microbial stimulants, seaweed extracts, and others. The seaweed extracts segment held 59.0% market share in 2022, amassing US$ 98.89 million. It is projected to garner US$ 172.59 million by 2028 to expand at 9.7% CAGR during 2022–2028.
- Based on application, the Middle East & Africa biostimulants market is segmented into foliar spray, seed treatment, and soil application. The foliar spray segment held 79.5% market share in 2022, amassing US$ 133.26 million. It is projected to garner US$ 231.98 million by 2028 to expand at 9.7% CAGR during 2022–2028.
- Based on crop type, the Middle East & Africa biostimulants market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, turf and landscape, and others. The cereals and grains segment held 51.9% market share in 2022, amassing US$ 87.00 million. It is projected to garner US$ 151.21 million by 2028 to expand at 9.7% CAGR during 2022–2028
- Based on country, the Middle East & Africa biostimulants market has been segmented into South Africa, Saudi Arabia, the UAE, and Rest of MEA. Our regional analysis states that South Africa captured 39.3% market share in 2022. It was assessed at US$ 65.87 million in 2022 and is likely to hit US$ 117.01 million by 2028, exhibiting a CAGR of 10.0% during the forecast period.
Key players dominating the Middle East & Africa biostimulants market are BASF SE; UPL Ltd; Valagro S.P.A.; Gowan Company; FMC Corporation; Haifa Negev Technologies Ltd.; ADAMA; and Rallis India Limited among others.
- In June 2022, FMC corporation launched a new brand identity for its Plant Health business to reflect the company's continuing growth and expansion of its biological platform. Agricultural biologicals represent a diverse group of crop protection and stimulant products derived from living organisms and naturally occurring compounds. FMC invested substantially in the biological segment and committed to providing growers with products offering unique modes of action.
- In November 2021, Valagro was recognized at the 2021 Crop Science Awards for the innovative biostimulant TALETE, which has been awarded Best New Biological Product (Biostimulant). TALETE, developed by means of our proprietary GeaPower technology, helps crops enhance Crop Water Productivity, the economical or biophysical gain for each unit of water used in crop production.
Contact Person: Sameer Joshi
Email Id: email@example.com