Seed Treatment Market Size and Growth Analysis By 2029
The global seed treatment market size hit USD 10.15 billion in 2021. The market value is slated to rise from USD 11.32 billion in 2022 to USD 26.01 billion by 2029, exhibiting a CAGR of 12.62% during the forecast period. In recent years, the agricultural industry has undergone a significant transformation from a single product paradigm to one that addresses multiple challenges impacting crop yields and quality, says Fortune Business InsightsTM in its report titled, “Seed Treatment Market, 2022-2029”.
List of Key Market Players:
- Syngenta AG (Switzerland)
- BASF SE (Germany)
- Bayer AG (Germany)
- UPL ltd. (India)
- Corteva Agriscience (U.S.)
- NuFarm Ltd. (Australia)
- FMC Corporation (U.S.)
- Sumitomo Chemical Co. Ltd. (Japan)
- Croda Int. PLC (U.K.)
- Germain’s Seed Technology, Inc. (U.S.)
Source Link :
https://www.fortunebusinessinsights.com/industry-reports/seed-treatment-market-100156
Segments-
By Type, Synthetic Chemicals Segment Holds the Largest Market
Synthetic chemicals are expected to experience significant sales increase since they may successfully control plant diseases and pests more quickly than organic remedies. As there are numerous high-accuracy automatic treatment devices available, they require less work. To protect seeds from disease, fungicides and insecticides composed of synthetic chemicals are sprayed on the seeds. The high cost of genetically modified seeds has a substantial impact on the demand for chemical treatments.
By Function, Seed Protection will Continue to Hold a Significant Market Share
Seed enhancement and seed protection are included in the function segment. Given that it offers a comprehensive defense against a variety of plant stressors in a single product that is grower-friendly, crop-friendly, and ecologically responsible, the seed protection market is predicted to expand at the quickest rate. Moreover, compared to conventional crop protection products, seed protection treatments offer competitive costs, reduce application efforts, and save time.
By Application Technique, Seed Dressing Sector is Driven by Early Foliar Infection Protection of Crops
The fastest-growing segment is seed dressing, which speeds up germination compared to untreated seeds. Early relationships with beneficial soil microbes, including mycorrhizae, which aids plant nutrient absorption, are encouraged by seed coatings. It manages seed infection and guards against foliar infection, reducing disease burden later in the season, enhancing the efficiency of in-crop fungicides and lowering the possibility of yield and quality loss during grain fill.
By Stage of Seed, Increasing Resistance to Abiotic Stress Increases the Use of On-Farm Treatment
The stage of the seed segment comprises on-farm and off-farm. In off-farm treatment, the easy availability of seeds to the farmers and the manually mixing of pesticides saves time. Along with this, using already treated seeds help in fueling agricultural productivity.
By Crop Type, Cereals will Show a Significant Market Share Worldwide
The market is divided into cereals, oilseeds, fruits & vegetables, and other based on crop type. Due to the government’s significant emphasis on ensuring food security in developing markets, cereals are predicted to hold the largest proportion of the market. Cereals are also in greater demand due to their numerous uses in the food business.
Report Coverage-
The research report offers a thorough analysis of the industry and focuses on important factors, including top manufacturers, suppliers, and end-use applications. In addition, the study identifies significant changes in the sector and provides insights into market trends for seed treatment. The research includes a number of reasons, in addition to those listed above, that have helped the industry grow recently.
Drivers & Restraints-
Growing Need to Increase Crop Yield Due to Increased Food Spending
The global sector is primarily driven by a strong increase in agricultural production. According to the Indian government, the agricultural industry will provide 18.8% of the nation’s Gross Value Added (GVA) in 2021–22 and has grown adaptably during the previous two years. 3.9% in 2021–2022 and 3.6% in 2020–2021 were the growth rates. The introduction of new technology, inventions, and process improvements in the farming industry are responsible for the enormous increase in agricultural production eventually leading to the seed treatment market growth.
Regional Insights-
North America to Hold the Largest Global Market Share
The largest of the seed treatment market share, which was worth USD 3.56 billion in 2021, belongs to North America. Favorable agro-economic conditions, uniformity in terms of intensification level and farmer profile, and a wide variety of agro-climatic zones and crops are the main driving forces. The markets in the U.S. and Canada are attempting to deal with the growing problem of maximizing natural resources and controlling rising labor costs.
The regional market for treated seeds in Europe is primarily driven by its strong demand, particularly in Western Europe, where agrochemical usage is proportionately higher than in planting areas. It is anticipated that seeds treated with solutions will help manage resistance and reduce operational complexity. Due to their lack of technical advancements, Central and Eastern Europe have a high potential for intensification, which is made worse by their unpredictable weather patterns and physical limitations.
In comparison to the worldwide average, the Asia Pacific market is anticipated to grow at the fastest rate. The region’s production outlook for staples such as rice and wheat is still favorable. Even in marginal land with little agricultural inputs, the productivity of such main crops is increased by using seeds that have been pesticide-treated.
Competitive Landscape-
Focus on Product Launches is Part of Syngenta AG’s Strategy to Expand its Portfolio
Syngenta AG, one of the important seed treatment companies, has a big customer base and offers its products all over the world. The business is focusing on creating new items and expanding its clientele in an effort to strengthen its position in the market. For instance, Syngenta introduced Vayantis fungicide, a new chemical for treating maize seeds, in March 2021. Picarbutrazox, the principal component of the product, is a fungicide designed to protect seedlings from ailments, including damping-off and key blight. Farmers will be able to tackle pythium and increase crop productivity by introducing this innovative approach, which will subsequently spur the growth of the market.
Key Industry Development-
May 2020: BASF launched Melyra fungicide to customers in China. It is the first of three new products based on the company’s fungicide Revysol that are planned for the Chinese market.
