South Africa Biostimulants Market (2023-2029) | Share, Revenue, Trends, Growth, COVID-19 IMPACT, Industry, Analysis, Companies, Forecast, Size & Value
Market Forecast By Active Ingredient (Humic Substances, Amino Acids, Seaweed Extracts, Microbial Amendments), By Application (Foliar, Soil Treatment, Seed Treatment), By Form (Liquid, Dry) And Competitive Landscape
| Product Code: ETC4599709 | Publication Date: Jul 2023 | Updated Date: Oct 2023 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 72 | No. of Figures: 18 | No. of Tables: 6 | |
South Africa Biostimulants Market Synopsis
The South Africa Biostimulants Market is primarily fueled by the imperative need to enhance agricultural yields, improve crop quality, and bolster overall plant health. Agricultural output has seen a substantial increase, with a 15.9% rise to $17,161.7 million in 2020, contributing significantly to the GDP, projected at $4,192.4 million in 2019. This has prompted farmers and producers to increasingly adopt biostimulants as a means to augment crop production and ensure sustainability. In 2022, the African biostimulants market faced challenges due to global agricultural commodity issues, coupled with high consumer food price inflation, reaching an average of approximately 9% in 2022, up from 6.5% in 2021. Nevertheless, the Department of Agriculture, Land Reform, and Rural Development's initiatives are expected to stimulate the financial services and agribusiness sectors. Consequently, the agricultural sector is poised for a resurgence in 2023, which will further propel the biostimulants market in the forthcoming years.
According to 6Wresearch, South Africa Biostimulants Market is projected to grow at a CAGR of 4.7% during 2023-2029. This growth can be attributed to government initiatives aimed at promoting sustainable agriculture, exemplified by the Agriculture and Agro-Processing Master Plan (AAMP). The South African government is actively endorsing environmentally friendly agricultural practices by offering essential tax incentives like the 12L Tax Incentive under Income Tax Act No. 58 of 1962, among others, which are expected to drive the demand for biostimulants in the years ahead. Furthermore, various regions within South Africa, such as the Western Cape, have already adopted conservative agricultural methods, accounting for up to 51% of agricultural practices. The implementation of similar practices in regions like Mpumalanga and the Free State is anticipated to further bolster the adoption of conservative agriculture and, consequently, drive robust demand for biostimulants in the South African market during the forecast period.
Market by Form
Liquid Biostimulants dominate the South Africa Biostimulant Market due to their convenient application, fast plant absorption, and effective delivery of nutrients and growth enhancers.
Market by Active Ingredients
Seaweed extract dominates South Africa Biostimulant Market due to its rich nutrient composition and alignment with sustainable agriculture. Abundant coastal resources, coupled with growing demand for eco-friendly solutions, fuel its adoption, appreciated by farmers for boosting crop growth, nutrient absorption, and stress resistance, thereby fueling substantial market growth.
Market by Applications
Foliar Biostimulants lead in South Africa biostimulant market due to their direct leaf absorption, providing swift nutrient uptake and stress resilience for crops, contributing to optimal growth and productivity in diverse environmental conditions.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- South Africa Biostimulants Market Overview
- South Africa Biostimulants Market Outlook
- South Africa Biostimulants Market Forecast
- Historical Data and Forecast of South Africa Biostimulants Market Revenues, for the Period 2019-2029F
- Historical Data and Forecast of South Africa Biostimulants Market Revenues and Volume, By Forms, for the Period 2019-2029F
- Historical Data and Forecast of South Africa Biostimulants Market Revenues and Volume, By Active Ingredients, for the Period 2019-2029F
- Historical Data and Forecast of South Africa Biostimulants Market Revenues, By Applications, for the Period 2019-2029F
- South Africa Biostimulants Market Revenue Ranking, By Companies
- South Africa Biostimulants Market Drivers and Restraints
- South Africa Biostimulants Market Trends
- South Africa Biostimulants Market Porters Five Forces
- Import-Export Statistics
- South Africa Biostimulants Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Form
- Liquid
- Dry
By Active Ingredients
- Humic Substances
- Amino Acids
- Seaweeds Extract
- Microbial Amendments
By Applications
- Foliar
- Soil Treatment
- Seed Treatment
Frequently Asked Questions About the Market Study (FAQs):
South Africa Biostimulants Market is projected to grow at a CAGR of 4.7% during 2023-2029.
The South African government is actively endorsing environmentally friendly agricultural practices by offering essential tax incentives like the 12L Tax Incentive under Income Tax Act No. 58 of 1962, among others, which are expected to drive the demand for biostimulants in the years ahead.
Liquid Biostimulants dominate the South Africa biostimulant market due to their convenient application, fast plant absorption, and effective delivery of nutrients and growth enhancers.
Seaweed extract dominates South Africa's biostimulant market due to its rich nutrient composition and alignment with sustainable agriculture.
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1. Executive Summary |
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2. Introduction |
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2.1 Report Description |
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2.2 Key Highlights of the Report |
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2.3 Market Scope and Segmentation |
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2.4 Research Methodology |
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2.5 Assumptions |
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3. South Africa Biostimulants Market Overview |
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3.1 South Africa Biostimulants Market Revenues (2019-2029F) |
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3.2 South Africa Biostimulants Market Industry Life Cycle |
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3.3 South Africa Biostimulants Market Porter’s Five Forces Model |
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4. South Africa Biostimulants Market Dynamics |
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4.1 Impact Analysis |
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4.2 Market Drivers |
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4.3 Market Restraints |
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5. South Africa Biostimulants Market Trends and Evolution |
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6. South Africa Biostimulants Market Overview, By Forms |
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6.1 South Africa Biostimulants Market Revenue Share & Volume Share, By Forms (2022 & 2029F) |
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6.2 South Africa Biostimulants Market Revenues & Volume, By Forms (2019-2029F) |
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6.2.1 South Africa Biostimulants Market Revenue & Volume, By Liquid (2019-2029F) |
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6.2.2 South Africa Biostimulants Market Revenue & Volume, By Dry (2019-2029F) |
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7. South Africa Biostimulants Market Overview, By Active Ingredients |
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7.1 South Africa Biostimulants Market Revenue Share & Volume Share, By Active Ingredients (2022 & 2029F) |
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7.2 South Africa Biostimulants Market Revenues & Volume, By Active Ingredients (2019-2029F) |
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7.2.1 South Africa Biostimulants Market Revenue & Volume, By Seaweeds Extract (2019-2029F) |
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7.2.2 South Africa Biostimulants Market Revenue & Volume, By Amino Acids (2019-2029F) |
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7.2.1 South Africa Biostimulants Market Revenue & Volume, By Humic Substances(2019-2029F) |
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7.2.2 South Africa Biostimulants Market Revenue & Volume, By Microbial Amendments (2019-2029F) |
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8. South Africa Biostimulants Market Overview, By Applications |
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8.1 South Africa Biostimulants Market Revenue Share & Revenues, By Applications (2022 & 2029F) |
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8.1.1 South Africa Biostimulants Market Revenues, By Foliar (2019-2029F) |
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8.1.2 South Africa Biostimulants Market Revenues, By Soil Treatment (2019-2029F) |
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8.1.3 South Africa Biostimulants Market Revenues, By Seed Treatment (2019-2029F) |
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9. South Africa Biostimulants Market Key Performance Indicators |
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10. South Africa Biostimulants Market Import-Export Statistics |
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10.1 South Africa Biostimulants Market Import Statistics, 2022 |
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10.2 South Africa Biostimulants Market Export Statistics, 2022 |
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11. South Africa Biostimulants Market - Opportunity Assessment |
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11.1 South Africa Biostimulants Market Opportunity Assessment, By Form (2029F) |
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11.2 South Africa Biostimulants Market Opportunity Assessment, By Active Ingredients (2029F) |
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11.3 South Africa Biostimulants Market Opportunity Assessment, By Applications (2029F) |
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12. South Africa Biostimulants Market - Competitive Landscape |
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12.1 South Africa Biostimulants Market Revenue Ranking, By Companies, 2022 |
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12.2 South Africa Biostimulants Market Competitive Benchmarking, By Technical Parameters |
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12.3 South Africa Biostimulants Market Competitive Benchmarking, By Operating Parameters |
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13. Company Profiles |
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13.1 Bayer AG |
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13.2 Syngenta AG |
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13.3 FMC Corporation |
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13.4 Corteva Agriscience |
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13.5 Koppert |
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13.6 Afrikelp |
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13.7 BASF SE |
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13.8 UPL |
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13.9 Haifa Negev technologies LTD |
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13.10 Kelp Products International |
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14. Key Strategic Recommendations |
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15. Disclaimer |
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List of Figures |
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1. South Africa Biostimulants Market Revenue and Volume, 2019-2029F ($ Million and Tons) |
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2. South Africa Fertilizer Consumption (kilograms Per Hectare Of Arable Land) |
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3. South Africa Biostimulants Market Revenue Share, By Form, 2022 & 2029F |
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4. South Africa Biostimulants Market Volume Share, By Form, 2022 & 2029F |
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5. South Africa Biostimulants Market Revenue Share, By Active Ingredients, 2022 & 2029F |
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6. South Africa Biostimulants Market Volume Share, By Active Ingredients, 2022 & 2029F |
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7. South Africa Biostimulants Market Revenue Share, By Applications, 2022 & 2029F |
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8. Income from sales and services by province in the agriculture and related services industry, 2021 |
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9. Income by enterprise size (% contribution) in the agriculture and related services industry, 2021 |
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10. Income by type of product in the agriculture and related services industry of south Africa, 2021 (in %) |
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11. South Africa Share of Top 3 Import Partners for HS Code 310100, 2022 |
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12. Market Import Data, By Country for HS Code ,2022 (in $ Thousand) |
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13. South Africa Share of Top 3 Import Partners for HS Code 310100, 2022 |
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14. Market Import Data, By Country for HS Code ,2022 (in $ Thousand) |
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15. South Africa Biostimulants Market Opportunity Assessment, By Form (2029F) |
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16. South Africa Biostimulants Market Opportunity Assessment, By Active Ingredients (2029F) |
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17. South Africa Biostimulants Market Opportunity Assessment, By Applications (2029F) |
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18. South Africa Biostimulants Market Revenue Ranking, By Companies, 2022 |
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List of Tables |
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1. Extent of Adoption of Conservation agriculture (CA) in South Africa (2021) |
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2. South Africa Biostimulants Market Revenues, By Form, ($ Million) |
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3. South Africa Biostimulants Market Revenues, By Form, (Tons) |
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4. South Africa Biostimulants Market Revenue, By Active Ingredients, ($ Million) |
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5. South Africa Biostimulants Market Volume, By Active Ingredients, (Tons) |
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6. South Africa Biostimulants Market Revenues, By Applications, ($ Million) |
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