LONDON, July 21, 2015 /PRNewswire/ -- In order to cater to the demand for higher food production with increasing agricultural input consumption across the globe, farmers are focusing on boosting crop production and their nutritional value. Biological seed treatment is seen as technique that can improve their return on investment. Biological seed treatment performs the essential role of protecting crops from pests and improving their yield.
Leading companies in the biological seed treatment market are continuously developing new products, technologies, and methods for manufacturing microbial products with high proficiency. Thus, the biological seed treatment market is gaining global acceptance among farmers. The leading players in this market are BASF SE, (Germany), Bayer CropScience AG (Germany), Monsanto (U.S.), Valent Biosciences Corporation (U.S.), Syngenta AG (Switzerland), Italpollina S.P.A (Italy), Koppert B.V. (U.S.), Arysta LifeScience Limited (Japan), and Novozymes (Denmark). These players are adopting different strategies to develop in the biological seed treatment market. New product launches and collaborations have been the key strategies implemented by market players for global expansion.
The market for biological seed treatment is estimated to worth $304.32 million in 2014, and is projected to reach $560.98 million by 2019, at a CAGR of 13.0%. In 2013, North America was the largest market; this market is projected to grow to $183.61 million by 2019, at a CAGR of 13.0%, as studied from 2014. Europe is the second-largest market of biological seed treatment, and is projected to grow at a CAGR of 13.4% during the period under review. The biological seed treatment market consists of four crop types: cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops (turf, forage, and ornamental & plantation crops).
By type, the market is classified into microbial and botanicals. The microbials market is further segmented in to three major categories of bacterial, fungal, and others (virus and protozoa). The microbials segment was the largest in 2013, and is projected to grow with the increasing demand from the agriculture and food industries.
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