Increase R&D investment to drive the global seed treatment market
The industry is driven by an increased demand for high yielding seed chemicals and the need to turn every seed into a viable seedling and achieve high yields.
Global Seed treatment market is expected to register a CAGR of 10.10% and reach USD 13,814.0 million by 2025.
Compared to other crop protection methods, seed treatment is a cost-effective alternative that is expected to drive the global seed treatment market. The industry is driven by the growing demand for high-efficiency seed chemicals and the desire to convert every seed into a viable seedling and maximize production. Additionally, the increased desire to increase crop yields through cost-effective methods is fueling the growth in demand. Additionally, innovations in formulations and active ingredients have benefited seed care by providing a wide variety of defenses against insects, diseases and nematodes using insecticides, fungicides and inoculants.
The increased acceptability of organic farming practices in developing countries is likely to provide profitable growth opportunities for suppliers in the seed treatment industry. Many new product developments may reach the industry over the next five years with improved seed treatment R&D operations. Manufacturers of seed treatment products are developing new formulations of these products that can have a significant positive effect on crop yields, both qualitatively and statistically.
Natural hazards, such as storms, landslides, floods and other extreme weather events, can adversely affect the development of the global seed treatment industry.
The COVID-19 pandemic has had a modest influence on seed care needs, primarily due to transportation constraints. The government has exempted all farms from involvement with closures or disruptions, although the corona outbreak has had no such effect. Indeed, in the wake of panic buying by farmers, agrichemical companies have seen double-digit year-over-year gains. Companies maintained sufficient stocks, allowing farmers to purchase seed treatment products as needed.
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Chemicals led the global market by type in 2018.
According to the application technique, the granulation segment is expected to grow at the fastest rate throughout the forecast period. In 2018, the wound dressing category captured the largest market share, while the granulation sector is expected to grow at the fastest CAGR throughout the study period.
According to the feature, the seed protection segment captured a larger revenue share of the global seed treatment market in 2018.
By crop type, cereals and grains segment led the market in 2018 and is expected to continue to lead the market during the forecast period.
North America dominated the seed treatment market in 2018. In 2018, the region held a market share of 30.17%. The seed care industry in North America, and particularly in the United States, has undergone considerable structural upheaval and revolution in recent years.
However, Asia-Pacific is expected to grow at the fastest rate of 10.54% over the forecast period. China and India are the zone’s main national markets, contributing to its expansion.
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Rice consumption will also increase in the Middle East and Africa, where rice is gaining importance as a staple food and source of calories around the world. The grain market situation was characterized by oversupply and weak demand growth. However, the growth of this sector is driven by increased yields and increased use in food-related applications. This is expected to fuel the market growth in this region.
The major market players are Bayer AG (Germany), Syngenta AG (Switzerland), BASF SE (Germany), Sumitomo Chemical Co., Ltd (Japan), Nufarm (Australia), DuPont de Nemours, Inc. (USA) , FMC Corporation (USA), ADAMA Agricultural Solutions Ltd (China), Croda International Plc (UK) and UPL Limited (India).
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