Biological Seed Treatment Market
Global Biological Seed Treatment Market to Grow at a CAGR of 13.80% during 2018 – 2028
Published | 31 August 2022
Global Biological Seed Treatment Market is expanding as a result of rising consumer demand for organic foods, increasing interest in bioengineered foods due to their high nutrient content and rising premium seed prices.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Biological Seed Treatment Market was worth USD 973.5 million in the year 2021. The market is projected to grow at a CAGR of 13.80%, earning revenues of around USD 2348.1 million by the end of 2028. One of the main factors fueling the growth of the biological seed treatment market is the rise in demand for organic food products among people all over the world. Increased demand for bioengineered food due to its high nutritious content and rising costs of premium seeds stimulate market expansion. The market is also influenced by the rise in demand for bioengineered food due to its numerous advantages, such as reduced pesticide use and environmental issues related to chemical seed treatment. Additionally, the market for biological seed treatments is positively impacted by an increase in the production of hybrid crops, a rise in the demand for crops of higher quality, the expansion of the agriculture industry, and a change in consumer preferences toward bettering personal health.
Growing Organic Farming Trend
The growing trend of organic farming is one of the main factors boosting the growth of the biological seed treatment market. According to the Research Institute of Organic Agriculture (FiBL), 72.3 million hectares of agricultural land were managed organically by at least 3.1 million farmers in 2019. Organic agriculture is practiced in 187 countries. The amount of land used for organic farming has grown dramatically over the past few years and was estimated to be 74.9 million hectares in 2020, up from 69.5 million hectares in 2017. In 2019, Oceania (35.9 million hectares, or 50% of the world's organic agricultural land) and Europe (16.5 million hectares, or 23%) have the largest organic agricultural land expanses.
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Increasing Demand for Biological Seed Treatment against Bacteria
According to the paper, by the end of 2026, the bulk of biological seed treatments used around the world will be aimed at protecting seeds from bacterial intervention. Growing seed vulnerability to bacterial attack has prompted the use of biological seed therapies against bacteria. Over US$ 300 million in biological seed treatment will be used globally by the end of 2026 to treat seeds with bacterial resistance. According to the analysis, revenue for fungi-type and botanical-type biological seed treatment would expand at a robust 11% CAGR over the forecast period. As a result, the Global Biological Seed Treatment Market is predicted to develop at a significant rate during the forecast period (2022-2028).
Challenge: Problems include Inconsistency in Performance and Incompatibility with Some Insecticides
The inconsistency of the results of biological seed treatments has discouraged investment. Desiccation and environmental circumstances that hinder their growth are the most prevalent issues faced while using such items. Inoculants that function well with one crop may not work as well with another. Trichoderma, for example, is more effective than cucumbers in increasing production. Using only one or two microorganisms is not as effective as using a full community. However, the efficacy of a combination of microorganisms with different growth requirements can occasionally be increased. Fungi, for example, can be coupled with PGPR.
Global Biological Seed Treatment Market - By Function
Based on function, the Global Biological Seed Treatment Market is segmented into Seed Protection and Seed Enhancement. Seed treatments for seed protection provide targeted control of specific pests and fungal diseases during the early seedling stage. Biological seed treatments are used on several crops to combat a variety of pests. It ensures uniform stand establishment by defending against a wide range of soil-borne diseases and insects. This influences the seed protection segment to dominate the market share in the upcoming years.
Impact of COVID-19 on Global Biological Seed Treatment Market
Nevertheless, following the first lockdown, production of important commodities containing agrochemicals was allowed, particularly seed treatment pesticides, which are regarded as essential goods in many nations. As a result, it is anticipated that COVID-19 will have a little effect on the market in question. Agrochemical companies have experienced double-digit earnings growth over the preceding year as a result of farmers' panic buying. Due to supply chain disruption brought on by vehicle movement restrictions and lockout, the COVID-19 pandemic outbreak has had a significant negative influence on global market growth. Due to market closures, the cost of agricultural goods including fertiliser and insecticides has increased by 10% to 12%.
The leading market players in the Global Biological Seed Treatment Market are BASF SE, Bayer AG, Novozymes A/S, Syngenta Group, Corteva Agrisciences, Valent Biosciences, Verdesian Life Sciences, Plant Health Care, Precision Laboratories, Koppert Biological Systems, and other prominent players. The Global Biological Seed Treatment Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Biological Seed Treatment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Biological Seed Treatment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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