According to the report published by Mordor Intelligence, the global biological seed treatment market is expected to witness prominent growth recording a CAGR of 12.85% during the forecast period, 2018-2023. The global biological seed treatment market was valued at USD 405.8 million in 2017 and it is expected to reach a value of USD 831.4 million by 2023.
The report involves segmentation of the global biological seed treatment market on the basis of function, crop type, and in terms of geography. To analyze the competitiveness in the industry, Porter’s five forces analysis is also included.
By the function type, the market is segmented into seed protection, seed enhancement, and others. Based on the crop type, the market is divided into grains and cereals, oilseeds, vegetables, and others. On geographical basis, global biological seed treatment market is segmented into: North America, Europe, Asia-Pacific, South America, and Africa.
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By function type, seed enhancement segment is estimated to be the largest market for biological seed treatment. By geography, North America is the largest market for biological seed treatment. Furthermore, Asia-Pacific has been witnessing a sustained demand for seed treatments. This factor highlights a scope for the region to emerge as the fastest growing global market in the forecasted period.
Biological Seed Treatment Market Dynamics
Rise in cost of high quality seeds, increase in investments in R&D, increase in organic farming and easier registration process are the key factors driving the market. However, high cost and limited adoption of biological seed treatment are some of the factors which are expected to constrain the market. Scope of R&D in product development acts as an opportunity for the players in the market.
According to Mordor Intelligence research and analysis, Syngenta, BASF, Bayer Cropscience Limited, and DuPont are the leading companies operating in the biological seed treatment market. Marrone Bio Innovations, Monsanto BioAg, and Novozymes are the other prime companies in the global biological seed treatment market. In the biological seed treatment market, companies are not just competing over product quality and product promotion but are also focused on strategic moves, to acquire larger market shares. The players in the market are investing heavily in this market in order to diversify their biological research divisions in the expanding market place.