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January 2024
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The global Biological Seed Treatment Market is estimated to be valued at US$ 1186.51 Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Biological seed treatment employs friendly microbes such as bacteria, fungi and plant-growth promoters which form protective layer around the seed. These treatment helps in controlling seed and soil-borne diseases and pests. It also improves seedling establishment and promotes overall plant growth. With rising demand for organic and sustainable agricultural practices, biological seed treatment is gaining popularity over chemical seed treatment. Market key trends: One of the key trends driving the growth of biological seed treatment market is increasing preference for organic and sustainable agriculture. With growing environmental concerns regarding extensive use of chemicals in agriculture, natural and eco-friendly agricultural practices are gaining traction. Biological seed treatment involves application of friendly microorganisms and does not use any harmful chemicals. This makes biological seed treatment an ideal solution for organic farming. Growing organic farmland and shift toward sustainable agriculture worldwide is fueling the demand for biological seed treatment. Porter's Analysis Threat of new entrants: Low capital requirement for biological seed treatment acts as a barrier for new players. However, established presence of major companies poses threat. Bargaining power of buyers: Buyers can bargain for price as there are numerous manufacturers. Switching costs are low. Bargaining power of suppliers: Suppliers of biological solutions have lower power due to availability of substitutes. Threat of new substitutes: Threat from chemical treatments is moderate as biological treatments are preferred for environment friendly qualities. Competitive rivalry: Intense competition exists among existing players to gain market share. SWOT Analysis Strength: Biological seed treatment causes no harm to environment. It improves soil health and fertility. Weakness: Highly dependent on climate. Short shelf life of biological products. Opportunity: Increasing organic farming and sustainability goals create demand. Support from governments and regulatory bodies. Threats: Fluctuating raw material costs. Health hazards of few biological agents. Key Takeaways The Global Biological Seed Treatment Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing organic farming practices and sustainability goals. In 2023, the market size is projected to reach US$ 1186.51 Mn. Regional analysis fastest growing region is Asia Pacific due to large agriculture output and export in countries like India and China. North America dominates currently owing to stringent regulations on chemical pesticide usage. Key players operating in the biological seed treatment market are BASF SE, Bayer Cropscience AG, Bioworks Inc., Syngenta AG, Agrauxine by Lesaffre, Germains Seed Technology, Koppert Biological Systems, Novozymes, Marrone Bio Innovations, and Groundwork BioAg. Read More: https://www.pressreleasebulletin.com/biological-seed-treatment-market-demand-size-and-growth/
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