The [FURL=https://shorturl.at/JbUAh]North America biostimulants market[/FURL] has seen substantial growth, reaching a market size of USD 1.22 billion in 2023, and is projected to grow at a compound annual growth rate (CAGR) of 9.4% over the next decade, aiming to hit nearly USD 2.75 billion by 2032.The Rise of Organic Farming in North America
Organic farming has gained traction across North America, contributing significantly to the growth of the biostimulants market. Between 2017 and 2022, organic crop cultivation in the region grew by 13.5%, covering 1.5 million hectares by 2021. The United States leads the way with 623.0 thousand hectares dedicated to organic farming, with California, Maine, and New York being key organic states. Mexico, renowned for its organic coffee exports from regions like Chiapas and Oaxaca, follows closely with 531.1 thousand hectares.
Government efforts, particularly in Mexico, aim to promote organic farming through financial support and research initiatives. Organizations like the National Association for Organic Agriculture are working to expand organic practices, creating a conducive environment for the biostimulants market to thrive.
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Market Drivers: Sustainable Agriculture and Eco-Friendly Solutions
The shift toward sustainable farming practices has been a significant driver for the biostimulants market. Farmers are increasingly seeking eco-friendly products to enhance crop yield and improve soil health without the adverse environmental impacts of traditional chemical fertilizers. Biostimulants, including protein hydrolysates and humic acids, are gaining popularity due to their ability to improve plant resilience, especially under adverse conditions such as drought and extreme temperatures.
Protein hydrolysates are a leading segment in the biostimulants market, known for their efficacy in boosting crop performance, while humic acid has demonstrated its potential in enhancing crop yield in controlled environments like greenhouses.
The Role of Biostimulants in the U.S. Agriculture Sector
In the United States, which boasts an advanced agricultural sector, there is a growing preference for biostimulants due to their ability to enhance crop performance while mitigating environmental concerns associated with chemical-based farming. Biostimulants play a crucial role in addressing the increasing demand for organic farming practices, as they support the growth of high-value crops and ensure better crop quality.
Key players in the North American biostimulants market, such as FMC Corporation, Corteva Agriscience, and Syngenta Crop Protection AG, are focusing on product innovation and expansion to meet rising demand. However, challenges like government restrictions on raw material trade pose potential hurdles for the industry.
Applications and Market Segmentation
Biostimulants are used across various applications, including foliar treatment, soil treatment, and seed treatment. The market is segmented by crop type, form, active ingredient, and country, providing a comprehensive view of the industry. The United States remains the largest market, followed by Canada.
The increasing demand for high-value crops, driven by rising incomes, urbanization, and growing health awareness, is further accelerating the use of biostimulants. Permanent croplands, especially those growing fiber and plantation crops, are key users of biostimulants to enhance crop yield and quality.