Seaweed Extracts Biostimulant Market

According to Stratistics MRC, the Global Seaweed Extracts Biostimulant Market is accounted for $1,104.12 million in 2022 and is expected to reach $2,286.51 million by 2028 growing at a CAGR of 12.8% during the forecast period. Seaweed is a type of plant that grows naturally in the ocean. Seaweeds, commonly referred to as marine microalgae, are typically connected to hard coastal substrates. Various marine algae, including kelps, doles, rockweeds, and sea lettuce, make up these plants. An organic fertilizer called seaweed extract contains vitamins, fatty acids, and macro- and micronutrients. Additionally, it includes marine bioactive substances such phycocolloid, polyphenol, mannitol, oligosaccharides betaine, and cytokines, which are thought to be crucial for root growth, disease resistance, and enhancing germination and leaf quality. Both horticultural and agricultural crops can benefit from the biostimulant found in seaweed extracts.

According to the reports of European Union (EU), the European Biostimulants Industry Consortium (EBIC) has drafted a directive based on the views and suggestions of manufacturers and research institutes and tabulated it for EU approval. The biostimulant products must undergo repetitive registration processes under each European country’s respective regulations.



Market Dynamics:

Driver:

Rising preference for organic food

Organic food is produced using synthetic pesticides, fertilizers, and herbicides. Food that has been grown organically provides the finest nutritional advantages and dietary variety, encouraging more people to choose naturally grown foods. In place of artificial fertilizers, which are used to increase both the quantity and quality of agricultural production, seaweed extract provides the ideal replacement since it is rich in vitamins, fatty acids, and other macro- and micronutrients essential for plant growth. As a result, the need for plant inhibitors, bio fertilizers, and bio pesticides rises as organic food becomes more and more well-liked.

Restraint:

Marketing of low-quality products

Lack of transparency in patent protection laws in various countries has led to the prevalence of low-quality products. The nature of the market has become fragmented into smaller pockets of market holdings. This has been a factor in introducing low-quality products in the market by regional or local manufacturers to reap the benefits. The low prices of these products from small-scale domestic manufacturers also attract farmers to purchase them. Similar product formulations from many competitors reduce consumer loyalty as well as the brand value of the products.

Opportunity:

Growing demand of horticulture

Seaweed is frequently sprayed directly onto plant leaves in horticulture, or as a foliar spray. By using this technique, the plant is able to absorb the nutrients more rapidly, which promotes quicker development and greater resistance to pests and diseases. To increase the yield per acre, horticulture crops need higher inputs of fertilizers and insecticides. As a result, the biostimulants made from seaweed extract can boost crop productivity and growth. Abiotic stressors, such as water logging in extremely hot temperatures, drought, and salt, have a significant impact on the yield and quality of horticultural crops. Because they contain bioactive chemicals that improve crop performance in abiotic conditions, seaweed extracts can help solve this issue.

Threat:

High levels of contamination

High concentrations of inorganic arsenic and iodine make up seaweed extracts' biostimulants. High concentrations of contaminant elements appear to be related to contamination levels in the growing environment. It poses shifts in water quality, increases loading of sediments and contaminants. Its highly concentrated mineral content stipulates serious health hazards, which is further impeding market expansion.

Covid-19 Impact

The COVID-19 pandemic has not had a substantial impact on the global market for seaweed extracts as biostimulants. This industry was excluded from lockdown limitations by the national government. Because they spent a long period operating in a very volatile environment, the biostimulant firms have built up a strong worldwide immunity. The rate of production decreased to about 20–30% of the overall capacity. Following the epidemic, output increased once more, and the industry experienced significant expansion as people began consuming more organic food.

The liquid segment is expected to be the largest during the forecast period

The liquid segment is estimated to have a lucrative growth, due to its easy applications. The liquid biostimulants are able to be quickly and conveniently sprayed over wider regions. Crop producers have a variety of alternatives to liquid formulations, which allow biostimulants to be combined with preservatives, additives, and insecticides. Some of the active components in biostimulants readily dissolve in liquid solvents like water or a petroleum-based solvent. The active component, the solvent, and one or more other chemicals are often present in the formulations of these biostimulants. Fewer liquid biostimulants are enough to cover bigger crop areas as compared to the dry version.

The soil treatment segment is expected to have the highest CAGR during the forecast period

The soil treatment segment is anticipated to witness the fastest CAGR growth during the forecast period. Humic acids, phytohormones, and micro- and macronutrients are abundant in seaweed biostimulants. It increases soil fertility and promotes deeper root growth as well as greater seed germination. It improves nutrient absorption and frost tolerance. Insect attack frequency is decreased and resistance to fungal ailments is increased by seaweed extracts. Polysaccharides, proteins, and fatty acids included in seaweed extract fertilizers help the soil retain moisture and nutrients, resulting in better crop development.

Region with largest share:

Europe is projected to hold the largest market share during the forecast period. Due to its usage as a natural crop production element, seaweed is in extremely high demand in this region. The demand for organic goods has encouraged a number of European biostimulant businesses to grow their global networks. The greatest vegan population in the area is a result of the quality standards and consumption of organic foods. Due to the high level of consumer awareness regarding environmental safety and sustainability, the area has started the "European Green Deal" program and "Farm to Fork".

Region with highest CAGR:

South America is predicted to experience the greatest CAGR throughout the projection period. Brazil is the largest market for biostimulants in the region. To feed the expanding world population, the area has concentrated on low-carbon technologies. Argentina is the top producer of organic food in South America, and it exports a significant amount of grains, oilseeds, fruits, and sugarcane. The marketing of organic products locally and abroad increased as a result. Farmers in the area are becoming more aware of the advantages of organic farming, which has led them to explore it as a substitute for conventional farming as a means of preserving and safeguarding their local resources. The initiatives to inject healthy soil bacteria and efficient biostimulants into damaged soils are also boosting the market demand.



Key players in the market

Some of the key players profiled in the Seaweed Extracts Biostimulant Market include FMC Corporation, Indigrow Ltd, Valagro S.p.A, Biolchim Spa, Atlantica Agricola, Biostadt India Limited, BioAtlantis Ltd, Haifa Negev technologies Ltd, Koppert, Adama, Qingdao Seawin Biotech Group Co, Trade Corporation International, OMEX, ILEX Envirosciences Ltd, Brandt Inc, BASF SE and UPL Limited.

Key Developments:

In May 2023, BioAtlantis has joined an international research project to make crops more tolerant to the increasing challenges of the climate crisis. The project is called CropPrime and involves a pan-European consortium of plant research centres. CropPrime also has support from two research centres based in South Africa and Argentina.

In September 2022, FMC India, an agricultural sciences company announced its portfolio expansion with three new products in support of Indian farmers to achieve better yields through good quality produce and an improved soil profile.

In October 2021, UPL Limited (India), and Chr Hansen Holdings A/s announced a partnership to develop microbial-based biostimulants and biopesticides for improving crop quality and yield. This will help the companies enter the crop protection sector in various geographies.

In September 2021, Koppert Biological Systems has expanded its Horiver sticky trap range with 4 new traps for monitoring and trapping pests like aphids, leaf miners, whiteflies, thrips and other harmful insects in a wide variety of crops. Koppert will retain its all-rounder Horiver trap that gives the best results for catching multiple pests.

In March 2020, BASF SE and Delair collaborated to scale up BASF SE research and development projects for seeds, traits, and crop protection. The agreement will enable BASF’s agricultural research stations worldwide to use the delair.ai cloud platform to streamline and standardize the information gained through drone-based field studies.

Forms Covered:
• Liquid
• Dry
• Humic

Species Covered:
• Brown Algae
• Red Algae
• Green Algae
• Other Species

Crop Types Covered:
• Fruits
• Vegetables
• Oilseeds
• Pulses
• Cereals & Grains
• Turf & Ornamentals
• Other Crop Types

Applications Covered:
• Seed Treatment
• Foliar Treatment
• Soil Treatment
• Other Applications

End Users Covered:
• Farmers
• Related Industries
• Research Institutes
• Other End Users

Distribution Channels Covered:
• Direct
• Indirect

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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