The global demand for agricultural products that are primarily influenced by various social factors, population dynamics, increasing availability of disposable income, high rate of urbanization, forward-looking national policies, as well as evolving consumer preferences among others is in part expected to drive the growth of biological seed treatment market.
Moreover, as per the forecasts by FAO (Food and Agriculture Organization of the United Nations), the proportion of household income that is estimated to be spent on food would be reportedly sustained at an average of 43% in 2029. Above all the surge in various strategic investments by players operating in this space partly as a response to the aforesaid are also expected to drive the biological seed treatment market growth.
According to FAO, the population of the world is expected to reach 8.4 billion people by 2029. Moreover, strong growth in per capita income is also reportedly expected to continue particularly with regards to emerging markets.
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