The biological seed treatment market was valued at USD 667.8 Million in 2016 and is projected to reach 1,251.4 Million by 2022, at a CAGR of 11.10% during the forecast period.
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The report "Biological Seed Treatment Market by Type (Microbials and Botanicals), Crop (Corn, Wheat, Soybean, Cotton, Sunflower, and Vegetable Crops), Function (Seed Protection and Seed Enhancement), and Region - Global Forecast to 2022"
The biological seed treatment market is projected to reach USD 1,251.4 Million by 2022, from USD 739.3 Million in 2017, at a CAGR of 11.10% from 2017.
The market is driven by factors such as high demand for sustainable agriculture in the global market, lesser risks of exceeding pesticide MRLs, and insurance to seed investments.
Browse 98 market data Tables and 40 Figures spread through 162 Pages and in-depth TOC on "Biological Seed Treatment Market by Type (Microbials and Botanicals), Crop (Corn, Wheat, Soybean, Cotton, Sunflower, and Vegetable Crops), Function (Seed Protection and Seed Enhancement), and Region - Global Forecast to 2022"
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Seed enhancement segment is estimated to be the largest market for biological seed treatment
The seed enhancement segment comprises biofertilizers and biostimulants.
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Cumulatively, they were estimated to account for a major share of the total market in 2017. The product portfolio of major companies involved in the biological seed treatment market is more focused toward biofertilizers and biostimulants.
Thus, the market for biofertilizers is the largest and is expected to maintain its growth momentum in future.
Soybean segment is projected to be the fastest-growing during the forecast period
Soybean is an important source of protein and oil for the feed and chemical industries. Despite being a legume crop with natural nodule formations, seed inoculants are used to further improve root length, effective water absorption, and nutrient uptake, thereby reducing early senescence, and improving grain quality.
Thus, the use of biological seed treatments in soybean crops is expected to grow at the highest rate during the forecast period.
North America is projected to be the fastest-growing market
The major reason for the biological seed treatment market experiencing such a high growth rate is the highly streamlined product registration process, which makes it easier for most private companies to launch their products easily. Lower investment requirement and limited gestation period involved in the development and commercialization of biological products are key factors attracting a large number of startup companies in the industry.
Additionally, growing awareness among consumers against synthetic chemicals has also led to a higher adoption of these products.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as BASF (Germany), Bayer (Germany), Syngenta (Switzerland), Monsanto (US), DuPont (US), Valent BioSciences (US), Verdesian Life Sciences (US), Plant Health Care (US), Precision Laboratories (US), Koppert (Netherlands), Italpollina (Italy), and Incotec (Netherlands).
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