(I-BusinessNews.Com, March 06, 2021 ) The report “Biological Seed Treatment Market by Type (Microbials and Botanicals), Crop (Corn, Wheat, Soybean, Cotton, Sunflower, and Vegetable Crops), Function (Seed Protection and Seed Enhancement), and Region – Global Forecast to 2025″, is projected to reach USD 1.7 billion by 2025, from USD 0.9 billion in 2020, at a CAGR of 11.9% during the forecast period. The market is driven by factors such as high demand for sustainable agriculture in the global market, lesser risks of exceeding pesticide MRLs, and insurance to seed investments.
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COVID-19 impact on Seed Treatment market
The biological seed treatment market includes major Tier I and II suppliers like BASF SE (Germany), Bayer AG (Germany), Novozymes A/S (Denmark), Syngenta Group (Switzerland) and Corteva Agriscience (US). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. As a result of the COVID-19 pandemic, there had been a supply chain disruption, due to which the agricultural sector had to face problems, such as labor unavailability, transportation barriers, restriction for market access, and the lack of inventories in some regions. Many manufacturers were facing issues due to the lack of raw material availability, which led to the reduction of seed treatment product manufacturing that includes biological seed treatment products. Post COVID-19, the agricultural activities have normalized, which has helped the companies to deliver products to the required places. Similar to the other biological agricultural product, seed treatment product also plays an important role, as it has been able to serve as an important solution for farmers across the globe.
Driver: Environmental concerns associated with chemical seed treatment
The demand for biological seed treatment has significantly increased as a result of high awareness of their potential and the growing attention to the environmental and health risks associated with conventional chemicals. Chemical seed treatments are detrimental to the environment and pose a serious risk to pollinators. The neonicotinoid class of insecticides is considered highly toxic to honeybees. Microorganisms employed as active substances in pest management are recognized as generally safe for the environment and non-target species, in comparison with synthetic chemicals.
Seed enhancement segment is estimated to be the largest market for biological seed treatment during the forecast period
The seed enhancement segment comprises biofertilizers and biostimulants. Cumulatively, they were estimated to account for a major share of the total market in 2020. The product portfolio of major companies involved in the biological seed treatment market is more focused toward biofertilizers and biostimulants. Thus, the market for biofertilizers is the largest and is expected to maintain its growth momentum in future.
Soybean segment is projected to be the fastest-growing during the forecast period
Soybean is an important source of protein and oil for the feed and chemical industries. Despite being a legume crop with natural nodule formations, seed inoculants are used to further improve root length, effective water absorption, and nutrient uptake, thereby reducing early senescence, and improving grain quality. Thus, the use of biological seed treatments in soybean crops is expected to grow at the highest rate during the forecast period.
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North America is projected to be the fastest-growing market
The major reason for the biological seed treatment market experiencing such a high growth rate is the highly streamlined product registration process, which makes it easier for most private companies to launch their products easily. Lower investment requirement and limited gestation period involved in the development and commercialization of biological products are key factors attracting a large number of startup companies in the industry. Additionally, growing awareness among consumers against synthetic chemicals has also led to a higher adoption of these products.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as BASF SE (Germany), Bayer AG (Germany), Syngenta Group(Switzerland), Corteva Agriscience (US), Valent BioSciences (US), Verdesian Life Sciences (US), Plant Health Care (US), Precision Laboratories (US), Koppert Biological Systems (Netherlands), Italpollina (Italy), Marrone Bio Innovation (US), Certis Europe (Netherlands), UPL Limited (India), Novozymes A/S (Denmark), IPL Biologicals (India), Rizobacter (Argentina), Bioworks, Inc (US), Advanced Biological Marketing (US), Kan Biosys (India), and Incotec (Netherlands).
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