by The Seed Treatment Market is estimated to be valued at US$ 6.83 Bn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Seed treatment involves application of plant protection and plant growth enhancement products to seeds using various application methods before sowing. These products help protect the seed and seedlings from disease, insects, and other pathogens during germination and early growth. The key benefits of seed treatment include uniform plant population establishment, improved plant health and vigor, and higher yield potentials. The main types of seed treatment include insecticides, fungicides, micronutrients and plant-growth regulators. Key application crops include cereals & grains, oilseeds, vegetables, etc.
Market Dynamics:
Increasing instances of various Seed-borne diseases along with growing concerns regarding crop protection against pests are a major factor driving the growth of the global Seed Treatment Market. Furthermore, the need to improve crop yield and protect seeds during the germination phase has also fueled the demand for seed treatment products. According to estimates, plant diseases cause approximately 15-20% loss in global food production annually. Seed treatment helps control such losses by protecting the seed and seedling from fungal, bacterial and viral diseases. Additionally, shifting focus towards biological and naturally derived seed treatment solutions also provides lucrative opportunities for market players. However, stringent regulatory frameworks around the application of agrochemicals and costs associated with R&D may restraint market growth.
Segment Analysis
The global seed treatment market is dominated by the insecticides segment. Within insecticides, neonicotinoids accounted for over 50% of the market share in 2020. Neonicotinoids are highly effective in fighting various seed-borne and soil-borne pests. Their systemic nature allows the active ingredients to spread through the entire plant system from seeds. This protects crops from a wide range of sucking and chewing insect pests for a longer duration of time.
PEST Analysis
Political: Supportive regulations in many countries for reduced use of chemical pesticides and integrated pest management will drive adoption of seed treatment solutions.
Economic: Growth in global seed market along with reducing cultivable land and increasing seed replacement rate presents growth opportunities for seed treatment players.
Social: Increasing health and environmental concerns related to excessive chemical pesticide usage is shifting focus towards sustainable farm production methods.
Technological: Rapid developments in formulation technologies, precision application techniques and novel active ingredients will expand product offerings and drive market gains.
Key Takeaways
The Global Seed Treatment Market Size is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing implementation of integrated pest management strategies worldwide. Rising cultivation of high value crops and growing necessity for early plant protection are fueling demand for seed treatment solutions. The Asia Pacific region is projected to witness fastest growth in the seed treatment market during the analysis period. Factors such as expanding agricultural sector, increasing seed replacement rate, and rapidly growing seed market in countries like India and China will drive the region’s market growth.
The seed treatment market size for 2023 is estimated at US$ 6.83 Bn. North America currently dominates the global market owing to large seed market and widespread adoption of commercial hybrid seeds. Europe is another major regional market driven by technological advancements in seed science. Key players operating in the seed treatment market are Syngenta, Bayer CropScience AG, Monsanto, BASF, Advanta India Ltd, Dow Agro Sciences, DuPont, Nufarm Ltd., Chemtura Agro Solutions, and Sumitomo Chemical Co. Ltd. Leading companies are investing in R&D to develop novel formulations with active ingredients from biological and botanical sources. Partnerships with seed companies and growers associations are key strategies adopted by market participants.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
