The study involved two major approaches in estimating the current size of the biostimulants market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the market.
In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, directories, and databases were referred to identify and collect information.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the biostimulants market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, research, and development teams, and related key executives from distributors and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to biostimulants' active ingredients, form, crop type, mode of application, and region. Stakeholders from the demand side, such as research institutions and universities, agrochemical distributors and retailers, and food processing companies, were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of biostimulants and the outlook of their business, which will affect the overall market.
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME
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DESIGNATION
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UPL (India)
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General Manager
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Acadian Plant Health (Canada)
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Sales Manager
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Syngenta Group (Switzerland)
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Manager
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Sumitomo Chemical Co., Ltd. (Japan)
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Sales Manager
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PI Industries (India)
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Marketing Manager
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the biostimulants market. These approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
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The key players in the industry and the overall markets were identified through extensive secondary research.
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All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
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All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data.
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The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CEOs, directors, and marketing executives.
Biostimulants Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall biostimulants market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. The market size was also validated using both the top-down and bottom-up approaches.
Market Definition
According to the European Biostimulants Industry Council (EBIC), “Plant biostimulants contain substance(s) and/or microorganisms whose function, when applied to plants or the rhizosphere, is to stimulate natural processes to enhance/benefit nutrient uptake, nutrient efficiency, tolerance to abiotic stress, and crop quality.”
According to the Agriculture and Horticulture Development Board (AHDB), a plant biostimulant contains substances and/or microorganisms that stimulate natural processes. The effect will be independent of its nutrient content and will improve one or more of the following characteristics of the plant or the plant rhizosphere:
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Nutrient-use efficiency
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Tolerance to environmental stress
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Quality traits
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Availability of nutrients in the soil or rhizosphere
Stakeholders
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Manufacturers, dealers, and suppliers of biostimulants
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Government bodies and research organizations
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Intermediate suppliers, such as retailers, wholesalers, and distributors
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Agriculture and Horticulture Development Board (AHDB)
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European Biostimulants Industry Council (EBIC)
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Biological Products Industry Alliance (BPIA)
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Regulatory bodies and institutions
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Canadian Food Inspection Agency (CFIA)
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US Food and Drug Administration (FDA)
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US Environmental Protection Agency (US EPA)
Report Objectives
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To determine and project the size of the biostimulants market with respect to the active ingredient, form, mode of application, crop type, and regions in terms of value over five years, ranging from 2025 to 2030.
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To identify the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
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To provide detailed information about the key factors influencing market growth (drivers, restraints, opportunities, and challenges)
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To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
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To analyze the micro-markets with respect to individual growth trends, prospects, and their contribution to the total market.
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To identify and profile the key players in the biostimulants market.
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To understand the competitive landscape and identify the major growth strategies adopted by players across the key regions.
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
The following customization options are available for the report:
Product Analysis
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Product Matrix, which gives a detailed comparison of the product portfolio of each company.
Geographic Analysis as per Feasibility
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
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Further breakdown of the Rest of Europe biostimulants market into key countries.
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Further breakdown of the Rest of Asia Pacific biostimulants market into key countries.
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Further breakdown of the Rest of South America biostimulants market into key countries.
Company Information
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Detailed analyses and profiling of additional market players (up to five)
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