Biological seed treatment refers to the application of biological agents such as microorganisms like bacteria and fungi on seeds for protecting them from diseases and pests. Biological seed treatments provide advantages like enhanced root formation, nutrient uptake, resistance to abiotic stresses, and increased crop productivity compared to chemical seed treatments. The growing need for sustainable agriculture practices and rising awareness about the ill-effects of chemical pesticides have increased adoption of biological seed treatments.
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 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Increased Crop Productivity
One of the major opportunities for biological seed treatment market is increased crop productivity. Biological seed treatments help in increasing crop yield by protecting seeds and seedlings from pest and disease infections during early growth stages. They facilitate better root development and nutrient absorption, resulting in healthy and robust crop stands. As global population is continuously rising, there is a need to increase agricultural productivity to meet the rising food demand. Biological seed treatments can play a vital role in boosting crop productivity sustainably without use of chemical pesticides. This growing need for increased agricultural output is expected to drive increased demand for biological seed treatments over the forecast period.
Porter’s Analysis
Threat of new entrants: The biological seed treatment market requires significant R&D investments and regulatory approvals, limiting new entrants. Bargaining power of buyers: Presence of numerous regional and global suppliers reduces buyers' bargaining power. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials. Threat of new substitutes: Industry players are constantly innovating new biological solutions limiting threat of substitutes. Competitive rivalry: Intense competition among existing players to develop advanced and effective solutions.
SWOT Analysis
Strength: Biological seed treatments are environment friendly with minimal residue on crops. Weakness: High costs associated with regulatory processes and R&D. Fluctuating raw material prices pose challenges. Opportunity: Increasing cereals production and shift from chemical to biological seed treatments present opportunities. Threats: Stringent regulations delay product approvals. Pest resistance threatens efficacy of certain biological variants.
Key Takeaways
The Global Biological Seed Treatment Market Size is expected to witness high growth.
Regional analysis shows North America dominates currently due to developed agriculture sector and stringent environmental regulations favoring biologicals. However, Asia Pacific is poised to grow at the fastest pace owing to increasing agricultural outputs in major economies like India and China.
Key players operating in the biological seed treatment market are Acelity L.P. Inc., Allergan Plc., Athersys, Inc., B. Braun, BioMimetic Therapeutics, Bio Tissue Technologies, C. R. Bard, International Stem Cell, Integra Lifesciences, Medtronic, Inc., Organogenesis Inc., Osiris Therapeutics, RTI surgical, Inc., Stryker Corporation, Tissue Regenix Group Plc., and Zimmer Biomet.
For more Insights, Read –
https://www.dailyprbulletin.com/biological-seed-treatment-market-market-size-and-share-analysis/
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