Biological Seed Treatment Market Outlook
The Biological Seed Treatment Market reached a valuation of USD 5.7 billion in 2022. Projected industry growth anticipates an increase from USD 6.2 billion in 2023 to USD 10.4 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 9.1% over the forecast period spanning from 2023 to 2030.
Based on type, the global biological seed treatment market has been segmented into microbials and botanicals. Microbials segment is anticipated to gain the largest revenue share in the global biological seed treatment market and shall maintain lead throughout the forecast period. The demand of microbial seed treatment is increasing, due to characteristics such as it increases stress tolerance, quick emergence, and promote nitrogen fixation. This is a crucial determinant that is catalyzing the growth of microbials biological seed treatment segment in the global biological seed treatment market. The same segment is expected to grow with the highest growth rate owing to the increasing demand for organically grown crops in the market.
The global biological seed treatment market has been segregated, by crop type, into cereals & grains, fruits & vegetables, oilseeds & pulses, and others. The cereals & grains segment is expected to garner major share in the global biological seed treatment market owing to the intensive agriculture practices, to increase the productivity and yield of the crop. The same segment is anticipated to project a higher CAGR during the forecast period due to the rising inclination of farmers towards enhanced and biologically treated seed varieties as compared to utilizing seeds from last harvest.
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The global biological seed treatment market is been classified, by function, into seed protection and seed enhancement. The seed enhancement segment is expected to gain largest share, as seed enhancement segment consists biostimulants and biofertilizers. Biofertilizers are rapidly gaining popularity, due to its properties such as it improves crop yield and quality and also makes crops disease resistant. Thus, these factors are expected to drive the seed enhancement segment in biological seed treatment market.
Regional Analysis
The global biological seed treatment market has been segmented on the basis of region, into North America, Europe, Asia-Pacific, Rest of the World.
North America is expected to dominate the global biological seed treatment market owing to increasing demand in the countries such as US, Canada, and Others. The number of populations is increasing in these countries of Asia-Pacific, due to which national and international associations and government are supporting the farmers to increase the agriculture production of grains, vegetables and fruits.
Asia-Pacific biological seed treatment market is expected to grow at a rapid pace due to growing demand for organic food. Additionally, the presence of market players is increasing in the biological seed market, as the investment required to commercialize and develop biological products is low. Additionally, limited gestation period is required which in turn, encourage large number of companies to invest in biological products. Moreover, Europe and RoW is also expected to project a significant market share owing to the increasing investments by the government in agricultural research.
Key Players
Some of the key players in the global biological seed treatment market are BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), The Monsanto Company (US), Valent BioSciences LLC (US), Verdesian Life Sciences, LLC (US), Plant Health Care, Inc. (US), Precision Laboratories, LLC (US), Koppert B.V. (Netherlands), and Italpollina spa (Italy).
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