Global Biological Seed Treatment Market to Gain Increased Traction as Pressure to Increase Crop Production Rises
Published On : Nov 22, 2018 | Category : Food & Beverages
The impact of unfavorable weather and uneven rainfalls has been getting worse on the agricultural sector in the past few years and has been negatively impacting the volumes of agricultural production that countries world over have been managing to attain lately. The situation is increasingly becoming challenging as global warming and the consecutive changes in weather are making it more difficult for the agriculture sector to be sustainable for the ever-rising global population. In this scenario, every possible way of achieving improvements in processes and raw materials associated with the agriculture sector is being experimented with.
This scenario has led to an increased focus on treating seeds to make them more resilient against elements that can inflict damage upon the production capacity of a farm, such as disease-causing microbes and pests. Biological ways of treating seeds, through the application of products such as bioinsecticides, biofungicides, bioinsecticides, and biostimulants, are being preferred over the use of synthetic products as farmers as well as consumers become more aware of the vast set of negative impacts of synthetic seed treatment products on the health of consumers as well as the environment. According to a report by TMR, the global biological seed treatment market will clock in an impressive 10.2% CAGR from 2017 to 2026; biological seed treatment worth of nearly US$715 mn will be adopted by 2026.
Introduction of Cost-effective Products to Allow Companies to Cater to Larger Consumer Base
While the market has mostly positive growth prospects, certain factors such as the high cost of undertaking biological seed treatment, lack of trained resources and essential equipment in emerging economies, and lack of awareness among small-scale farmers regarding the benefits of biological treatment of seeds rather than standing crop will hold back the market to a certain degree. These factor will chiefly impact emerging economies across regions such as Asia Pacific and Latin America wherein lack of necessary funds and government support could make it unaffordable for farmers to adopt biological seed treatment procedures.
Nevertheless, as the level of competition rises in the market, companies are coming up with cost-effective products and services to reach out to a larger consumer base. Moreover, rise in awareness programs for educating farmers regarding better ways of evaluating field performance and new ways of improving throughput could also help the market pick pace in the near future.
Biological Seed Treatment against Bacteria Gains Increased Pace
Of the key types of biological seed treatments, the segment of biological seed treatment against bacterial intervention is likely to account for the dominant share of the overall market in the next few years. The notable increase in seed vulnerabilities towards bacterial attacks has been the key factor driving this trend. The rise in resistant bacteria is also a key factor why farmers are focusing more on bacterial seed treatment.
Of the key crop types in which biological seed treatment is often undertaken, corn presently takes up the biggest slice of the revenue pie of the global biological seed treatment market. By the year 2026, biological treatment of corn seeds is likely to soar up to become a revenue opportunity of over US$305 mn. The vast consumption of corn across a number of countries and the massive production volumes of the same from several regional markets across the globe will drive this trend in the near future as well.