Biological seed treatment involves applying various naturally occurring substances such as plant extracts, substances that stimulate natural defense mechanisms in plants or microorganisms like bacteria and fungi to seeds in order to protect them against diseases and provide improved nutrition. It protects seeds and seedlings from damage caused by soil-borne pathogens and pests without using chemical pesticides and herbicides. This allows farmers to boost crop yields while also maintaining environmental sustainability.
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 Dynamics:
One of the key drivers for the growth of the biological seed treatment market is the rising demand for chemical-free alternatives for crop protection. Consumers are increasingly concerned about the ill effects of long-term consumption of foods grown using chemical pesticides and fertilizers. This has driven farmers to adopt more eco-friendly protective solutions for seeds. Furthermore, biological seed treatments improve overall soil health by enhancing nutrient availability and balancing microflora in soil which in turn boosts crop resistance to diseases over the long run. However, high costs of R&D associated with developing new biological ingredients and lack of adequate knowledge regarding benefits of biological products hamper the market growth.
SWOT Analysis
Strength: The biological seed treatment market has high advantages over chemical seed treatment. Biological seed treatment improves plant health and protects crops from diseases without harming the environment or human health. It helps increase crop yields in a sustainable manner. Biological seed treatments boost seed germination and plant establishment.
Weakness: The high costs associated with R&D for developing new biological seed treatment products is a major challenge for market players. Additionally, the short shelf life and seasonal availability of some biological products also limit their widespread adoption among farmers.
Opportunity: The growing emphasis on organic farming and sustainable agriculture presents significant opportunities for biological seed treatment providers. Additionally, the declining acreage of genetically modified crops worldwide is encouraging farmers to use biological alternatives for boosting crop protection. The rising global demand for food also allows for potential market expansion.
Threats: Stringent regulatory frameworks across various countries can delay the launch of new biological products. Additionally, crop insurance emergence and natural calamities pose threats by potentially reducing demand. Fluctuations in raw material prices also affect the biological seed treatment industry.
Key Takeaways
The Global Biological Seed Treatment Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Spurred by rising sustainable agriculture adoption, the market size is projected to reach US$ 1186.51 Mn by 2024.
Regional analysis: Europe currently dominates the global market owing to strict environmental regulations in countries like Germany, France, and the UK mandating reduced agrochemical usage. Asia Pacific is expected to grow at the fastest pace due to a substantial agriculture-driven economy and increasing GMO alternative demand in nations such as India and China.
Key players: 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. Large players focus on product launches and acquisitions to strengthen their market position.
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