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, 2023-2028”.
Seed treatment is the process of applying various treatments to crop seeds before planting to protect them from pests, diseases, and environmental stressors, and to enhance their growth and performance. Seed treatments can include the application of fungicides, insecticides, herbicides, nematicides, micronutrients, and other additives to the seed. The treatments can be applied through various methods, such as seed coating, seed pelleting, and seed priming.
Seed treatment is an important component of modern agriculture, as it helps to ensure crop yields, reduce crop losses, and increase the efficiency of agricultural practices. The use of seed treatments can also help to reduce the amount of chemicals needed for crop protection, which can result in lower environmental impact and reduced costs for farmers.
Seed treatment is commonly used in a variety of crops, including cereals, oilseeds, vegetables, and fruits, as well as in turf and ornamental plants. The choice of treatment depends on the specific crop, the target pests or diseases, and the environmental conditions in which the crop will be grown.
The seed treatment industry continues to grow, with increasing demand for high-quality crops and the need for more efficient and sustainable agricultural practices. The development of new seed treatment technologies and the increasing adoption of genetically modified crops are also driving the growth of the seed treatment market.
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.
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.
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/industry-reports/seed-treatment-market-100156