A report by ARC estimated that the biological seed treatment market will surpass $2 billion by 2026, representing an average annual growth rate of 11.2 percent from 2019 to 2026. The report provides analysis of global Biological Seed Treatment market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
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Research undertaken by the TERI, New Delhi, India has shown an increase of up to 10 percent in the biological therapy of corn, soybeans, cotton and cereals grains. The therapy functions as a biostimulant and helps to promote premature development. It promotes the colonization of roots by microorganisms, thereby protecting crops throughout the growth season.
Biological seed treatment is more important than chemical therapy because consumers ‘ choice for good, organic foods shifts. The harmful side effects from excessive use of chemicals have led to increased awareness of biobased products. Farmers have begun organic farming in most development nations which has directly affected market penetration.
Biofungicides and bioinsecticides are primarily used to protect seeds whereas biofertilizers and biostimulants are used to enhance seed production and performance. Among these, the development pace of biofungicides is expected to be comparatively high, and a 12 per cent CAGR section in terms of income is expected to develop from 2019 to 2026.
In 2018, Europe was the biggest product buyer with a total market share of more than 40 percent. The area is expected to develop by 10.0% between 2019 and 2026 in a CAGR. The growing agriculture industry, supported by access to land and support from the Government, is likely to pave the way for European market growth. Several laws against the unnecessary use of synthesized agrarian chemicals in the area have been created by several organizations, which are in turn expected to help business development.
In 2018, North America dominated the sector with a turnover rate of around 40%. The area is anticipated to develop by more than 11% in a CAGR between 2019 and 2026. The increased implementation of organic farming in nations like the United States, Mexico and Canada is expected to push the sector in the future. Canada and Mexico are the world’s largest grain exporters. Farmers use organic seed treatment to safeguard seeds and plants from pathogens, pests and nematodes to produce large plants. Asia Pacific is the fastest growing area and will accelerate in the prediction by more than 12 percent at CAGR. Strong growth in agriculture is expected to drive product demand in future in countries such as India, China, Bangladesh and Sri Lanka. Moreover, the growing population and income is expected to continue to drive demand for food and commodities from agriculture.
Key Players & Strategies
Key players such as BASF SE, Monsanto Company, Bayer CropScience, Syngenta AG and DowDuPont participate in procurement and joint projects as well as strategic partnerships aimed at promoting the advantages and exploration and growth skills of biological plant therapy throughout the world.
In March 2019, Italpollina purchased the U.S.-based Horticultural Alliance Inc., which is specialized in the manufacturing of mycorrhizal inoculants and other beneficial bacteria for the preservation of organic plants health. Syngenta AG cooperated in April 2019 with The Nature Conservancy to support the health of the soil, the preservation of habitats and the effective use of funds in the U.S., Argentina, Brazil, Kenya and China. In December 2017, BASF extended its manufacturing plant in Saint-Aubin-les-Elbeuf, France.
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