“B-300 could potentially be applied to more than 90 million acres by 2025, and become one of the biggest biological products in the agriculture industry”, says Colin Bletsky, Novozymes’ vice president for The BioAg Alliance. Colin was talking about a new microbial, namely Acceleron B-300 SAT, that Novozymes (in partnership with Monsanto) has launched; this microbial will be applied to all of Monsanto’s new corn seeds sold in the United States.
Microbials represent about two-thirds of the market for agricultural biological products. Biological is just one facet of the market for seed treatment, which is growing at a dynamic pace worldwide. Today, nearly all corn and cotton, and about two-thirds of soybean seeds are treated in one way or another in the United States. As the full potential of crops lies in the seed, the demand for is increasing, globally, and is being adopted across regions. The coatings protect against insects, diseases, and environmental stresses while enhancing nutrient uptake.
Seed treatment includes the application of chemical ingredients or biological organisms to the seed, in order to enable seed protection by suppressing, controlling, or repelling plant pathogens, insects, or other pests that attack seeds, seedlings, and plants.It also enables seed enhancement by improving their performance post harvesting and conditioning them before they are sown.
So how bright is the future in seed treatment market?
According to a report by a market intelligence firm, ‘the global market for seed treatment chemicals is currently estimated at USD 5,100.37 million in 2017. This market is expected to reach USD 8,415.61 million by 2022, with a CAGR of 10.53% during the forecast period’. The figures and the fact that the Asia-Pacific market is still untapped, clearly depict that the market is going to witness a huge rise in demand.
Globally, its market of North America is estimated to be the largest, followed by Europe. The APAC market is projected to witness the highest CAGR. With respect to countries, the United States has the largest share in the global seed treatment market, followed by Canada.
In the global seed treatment market, companies are focusing mainly on new product launches and acquisitions, which help in increasing the market share. The companies are investing heavily in the market to develop new bio-based products, which help in expanding their market share. The development of bio-based seed treatment products has massive potential for expansion.
Demand for improved and disease-resistant seeds, along with government campaigns and regulations, is going to drive the seed treatment market. Companies like BASF, Bayer, DuPont, etc., are working with their best teams, aligned with international standards and practices. The companies are majorly focusing on R&D for developing products specifically for each country, and are continuously launching new products in the market. The seed treatment market is surely going to make its mark on the global agriculture market.
Article Source: http://EzineArticles.com/expert/Rohith_Sampathi/2434563