The global "Bio-Seeds market" is expected to grow at a CAGR of 10.5% High during the forecasting period (2022-2029).
By inserting desired genes into the body of the seeds via biotechnology, organic seeds are also known as genetically modified (GM) seeds are generated. The fast development has led to pharmaceutical areas deteriorating in different countries. The best potential answer to this problem has evolved from the emergence of organic seeds and has been more popular since its foundation.
As a consequence of their high potential awareness and increasing attention to the environmental and health concerns connected with traditional pesticides, demand for biological seed treatment has grown substantially. Chemical seed therapy is environmentally damaging and poses significant risks to pollinators. Home-toxic to honeybees is the neonicotinoid family of pesticides. In comparison with manufactured chemical compounds, micro-organisms used as active agents in the control of pests are typically identified as harmless for the environment and non-target species. Sustainable agriculture requiring less fertiliser, more immunity and more resilience to illnesses and pest attacks are crucial for biological therapy. The reduced usage of chemical fertilisers improves crop health and helps crops to recover faster from abiotic like drought and salt. According to Statista, across the world, there are 190.4 million hectares of genetically modified crops. The United States is the leading country for GM crops based on acreage. Additionally, recent technological innovation and regulatory approvals for new bio-seeds with additional drought tolerance are further boosting the market for bio-seeds globally during the forecast period. Sustainable farming practices in developing nations are expected to be a key impediment to market expansion. Limited shelf-life is projected to have a negative impact on product demand throughout the projection period, particularly for seeds, such as soybean, compared to other processed crop seeds.
As a result of the COVID-19 pandemic, supply channel disruptions have resulted in issues facing the agriculture industry such as job loss, transportation hurdles, market access restrictions and the absence of stocks in some locations. Many manufacturers have faced problems because of a shortage of availability of raw materials which have led to the decrease in seed treatment products including biological seeds.
The global bio-seeds market is segmented on the basis of crop type into Soya bean, Maize Cotton, Canola, Sugar Beet, Others.
Soybean crop requires a high level of growth and developing exposure to nitrogen, which can be provided by seed inoculants biologically fixed. Therefore, throughout the projection period the market of biological soybean seed treatment would develop at a rapid rate.
Global bio-seeds market is segmented on the basis of trait type into herbicide tolerant, insect resistant, and others.
The capacity to manage a range of weeds based on genes used in the organic seeds with a herbicide resistant feature. The main reason driving the herbicide tolerant segment in the global bio-seed market is growing farmers' worries about weed control and increasing agricultural practise shifts to adoption of the features herbicide injected seed. According to the data published by the United States Department of Agriculture, herbicide-tolerant cotton acreage in the United States increased from 56% in 2001 to 98% in 2019.
By region, the global bio-seeds market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.
Geographically, due to developments in the agriculture sector there it is predicted that the North American area would have a major market share. The demand for organic food is growing substantially among individuals in the North American area, which is another important driver that is expected to have a favourable influence on the biological seed treatment market and are expected to boost the market growth in the region. According to ISAAA in 2019, the annual acreage of biotech crops in North America was 71.5 million hectares. However, throughout the projection period, the Asia-Pacific region is predicted to develop rapidly. The rapid expansion of this region is largely due to the vast area of farming and rising populations in the region. According to ISAAA, more than 42 single biotech maize events have been approved in the US for food, feed, and cultivation use with herbicide tolerance, insect tolerance and drought tolerance traits.
The key players in the global bio-seed market are focusing on improving their market presence and geographical reach through developments & launches of globally accepted bio-seeds. Some of the key players in the global bio-seeds market includes Bayer AG, Syngenta AG, Dow AgroSciences LLC, BASF SE and others.
Syngenta AG is a global company whose headquarters is located in Switzerland. Syngenta AG aims to advance more sustainable agriculture which is good for nature, farmers and society. Syngenta AG supports the farmers with technologies, services and knowledge so that they can improve their yield and provide the world with better food, feed and fibre.
Syngenta has products for improving yields for seeds such as barley, corn, cereals and vegetables. They also have products for protecting crops such as herbicides which help in the removal of weeds from the farm.
● Syngenta AG has had a total global sale of $14.3 billion in the year 2020 alone.
● Most improvements in sales for crop protection occurred in the Asia continent excluding China which was 8%
● Sales for seeds in the Asia continent including China increased by 17%
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