by Market Overview:
Biological seed treatment involves the application of various biocontrol agents such as biofertilizers, biopesticides, and plant growth promoting rhizobacteria on seeds to protect them from pests and diseases. It improves seed germination and plant establishment. Biological seed treatment products boost plant immunity, nutrient availability, drought tolerance, and insect and disease resistance. They are environment-friendly and support sustainable agriculture practices.
Market key trends:
With growing consumer demand for organic and chemical-residue free food, farmers are shifting towards biological seed treatment solutions. The rising awareness about the harmful effects of chemical pesticides is further driving the demand. The key players are focusing on innovations and new product launches to meet the growing market need. For instance, in 2022, BASF launched Irrigation Guide apps and online support tools that enable farming professionals to make more informed biological seed treatment and irrigation management decisions. The apps consider real-time weather conditions and crop requirements to provide precise guidance. Such technological advancements are supporting the market growth.
Porter’s Analysis
Threat of new entrants: Low capital requirement for starting a biological seed treatment business and availability of technology is encouraging new players to enter the market. However, strong presence and brand image of existing players makes it difficult for new entrants.
Bargaining power of buyers: Buyers have high bargaining power due to availability of numerous product options. Buyers can negotiate on price which compel suppliers to offer products at competitive rates.
Bargaining power of suppliers: Supply of raw materials is dominated by few key players globally. Suppliers have moderate to high bargaining power due to their dominance in the market.
Threat of new substitutes: Threat from substitutes is low as there are limited product alternatives available for biological seed treatment. However, chemical seed treatment poses as a potential threat.
Competitive rivalry: Intense competition exists among key players. Players compete based on product quality, price, and innovation.
Key Takeaways
The Global Biological Seed Treatment Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period 2023 to 2030, due to increasing preference for organic farming practices and growing awareness about benefits of biological products.
Regional analysis: North America dominates the global market and is expected to continue its dominance over the forecast period. However, Asia Pacific is expected to witness fastest growth owing to rising agriculture production and government support for organic farming in countries like India and China.
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. Key players are focusing on new product launches and expansion in high growth regions to strengthen their market position.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
