New York, Sept. 02, 2020 (GLOBE NEWSWIRE) -- The Global Seed Treatment Market is forecast to reach USD 20.78 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the Seed Treatment Market maintain a stable growth rate over the forecast period. The adoption of modern farming techniques will provide strength to the Seed Treatment Market and will also help in its growth over the forecast period.
Due to the pandemic, there are high chances of disruption in the supply chain and influence ingredients and raw material supplies. The financial crisis can let people shrink down their expenses, which can lead to a decrease in the demand of the food industry, adversely affecting the seed treatment market. Though food demand is inelastic, there can be a change in the dietary patterns of consumers. While the above reasons can have a negative impact, the inelasticity of demand for food will significantly result in the industry's growth. Due to COVID-19, the seed treatment industry manufacturers are adopting safety regulations and strategies, which may result in the industry's growth over the forecast period.
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COVID-19 Impact Analysis:
After the outbreak of the coronavirus, WHO encouraged people to take more aggressive steps to prevent further spread of the virus and to abide by the rules and regulations created by the respective governments of each country. Farmers and manufacturers in the seed treatment industry have been widely affected by the disruptions in the supply chain and influence ingredients and raw materials. To prevent the transmission of the COVID-19 virus, lockdowns were announced worldwide, which is hampering the transport of raw materials, thus obstructing the production. The COVID-19 pandemic also created a raw material price volatility for the manufacturers of the seed treatment products. The global lockdown has disrupted the trade operations of the products. The pesticide value chain is directly affected by the lockdowns. Manufacturers are dependent on raw materials that were kept for emergency purposes. The raw materials will be soon over pertaining to the current situation and the probable continuation of the lockdown.
Further key findings from the report suggest
- The increasing demand in the agricultural sector for food grains and scarcity of the arable lands is driving the growth of the market. Increasing awareness among consumers regarding the environment and health have boosted the market.
- The government of several countries has restricted the use of chemical pesticides and is encouraging using biological seed treatment products. They are taking initiatives to promote the benefits of biological seed treatment products and providing grants for the research and development of seed treatment products.
- The market in the Asia Pacific is expected to grow at a CAGR of 10.7% over the forecast period making it the fastest-growing region in the seed treatment market. In order to minimize the use of excessive pesticides, there is a significant demand for seed treatment.
- The seed treatment market is adopting some wiser strategies in order to say competitive in between the growing demand for the products. Collaborations have been observed between prominent brands in order to increase their product portfolio and enter new markets. In order to hold the position of the products in the competitive market, companies are adopting effective marketing and branding strategies.
- Key participants include Syngenta International AG, BASF SE, Bayer CropScience AG, ADAMA Agricultural Solutions, UPL Limited, DuPont, Monsanto Company, Germains Seed Technology, Sumitomo Chemical Co., Ltd, and Nufarm Limited, among others.
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For the purpose of this report, Reports and Data has segmented the global Seed Treatment Market on the basis of type, crop type, application technique, function channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Chemical Seed Treatment (Insecticides, Fungicides, and others)
- Biological Seed Treatment (Biopesticides, Biofertilizers, and others)
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
Application Technique Outlook (Revenue, USD Billion; 2017-2027)
- Seed pelleting
- Seed Coating
- Seed Dressing
- Others
Function Channel Outlook (Revenue, USD Billion; 2017-2027)
- Seed Protection
- Seed Enhancement
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/seed-treatment-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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