Redding, California, Sept. 01, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Seed Treatment Market by Type (Chemical, Biological), Formulation (Liquid, Dry), Application Technique (Seed Coating, Seed Dressing), Crop Type (Cereals & Grains, Oilseeds), Function (Seed Protection, Seed Enhancement) - Global Forecast to 2029,’ the seed treatment market is expected to reach $11.68 billion by 2029, at a CAGR of 9.9% from 2022 to 2029.
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Advanced productive agricultural materials are required to meet the growing population's food demand. Over the last several decades, there have been tremendous efforts to improve agricultural yields through new technologies, such as seed treatment. Seed treatment refers to applying chemical or biological products to the seed before sowing to suppress, control or repel pathogens, insects and other pests that attack seeds, seedlings, or plants. Seed treatment offers a precise mode of application of treatment products to the seeds and provides a high level of protection against insects and disease while reducing the potential exposure of crop protection products to humans and the environment.
This growth of the seed treatment market is driven by the rising need for low-cost crop protection solutions, the growing need to increase crop yield and quality, the increasing need to maintain the minimum residue limit in food products, advancements in seed treatment equipment, the rising costs of high-quality seeds such as hybrid and GM seeds, benefits offered by seed treatment, and the rapidly decreasing agricultural land.
Furthermore, the increasing focus on integrated pest management, the growing adoption of biological seed treatment, and the emergence of biodegradable seed coatings are expected to provide significant opportunities for the growth of this market.
However, stringent government regulations, financial hurdles for new entrants, restrictions on the use of neonicotinoids, and limited shelf-life of treated seeds hinder the growth of this market to a notable extent. In addition, the complicated process of developing film coating for seed treatment and the increasing resistance to crop protection products poses a major challenge to players operating in this market.
The Impact of COVID-19 on the Seed Treatment Market
The COVID-19 pandemic adversely affected many economies globally. The lockdowns and quarantine restrictions imposed to curb the spread of the SARS-CoV-2 virus negatively impacted many industries, including agriculture and crop protection. In the initial days of the outbreak, disrupted logistics and transportation impacted the movement of agrochemicals. Thus, the seed treatment market registered a decline in sales in the first quarter of 2020. In addition to the interruptions in the industry's value chain from raw materials supply to manufacturing, packaging, and distribution, the COVID-19 pandemic also led to restrictions on the movement of workers, a decline in demand from farmers, and the closure of seed production facilities. The industry suffered severe labor shortages due to repeated lockdowns, adversely affecting production. The decline in revenues during the initial months of 2020, coupled with reductions in demand from major markets, impacted the profitability of seed treatment manufacturers and vendors.
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The effects of the COVID-19 pandemic on this market were first felt in China at the beginning of 2020, as the country is one of the world's largest raw material suppliers for the agricultural crop protection industry. Most European and North American agricultural chemical and biological seed companies import key active ingredients used in seed treatment, mainly from China and other Asian countries. The low availability of raw materials created a scarcity of products in high-growth markets, such as the U.S., Brazil, Spain, and Italy.
After the initial days, there was minimal impact on the movement of agrochemicals. The transport barriers were removed by government bodies later, making it easy to meet the demand from farmers in most of the country. Therefore, disruptions in the transportation & logistics industry and impacted production in some countries have adversely affected the global seed treatment market in terms of sales volumes in the initial phase of the outbreak in 2020.
However, in 2021, there has been strong growth in the seed treatment industry across the globe due to the growing need for higher yields in crops such as corn, cotton, and soybeans. Therefore, major companies such as Bayer AG (Germany), BASF (Germany), Corteva Agriscience (US), and Syngenta AG (Switzerland) have resumed their production operations to ensure the smooth supply of their products to dealers and distributors. In addition, commodity prices are expected to be high in 2022, encouraging growers to invest in products that help them increase yields and profitability. Therefore, except for the initial days of the COVID-19 outbreak in 2020, the seed treatments segment revealed strong growth in the crop protection market in 2021 and is expected to remain the same in 2022.
Based on type, the seed treatment market is segmented into chemical seed treatment and biological seed treatment. In 2022, the chemical seed treatment segment is expected to account for the larger share of the seed treatment market. The large market share of this segment is attributed to its increasing use in developing countries, ease of availability, high efficiency, and lower costs compared to biological products. However, the biological seed treatment segment is expected to witness significant growth during the forecast period. The growth of this segment is driven by growing environmental and public health concerns regarding the use of chemical seed treatment, the increasing adoption of organic farming, the high demand for chemical residue-free agricultural products, and the initiatives by governments worldwide to promote the use of biological seed treatment.
Based on formulation, the seed treatment market is segmented into liquid formulation and dry formulation. In 2022, the liquid formulation segment is expected to account for the larger share of the seed treatment market. The large market share of this segment is attributed to its high usage by farmers due to ease of handling, better seed coverage, better performance, and higher effective duration (up to 6 months) than dry formulation (up to 3 months). Furthermore, liquid formulations offer better safety to workers due to the dust associated with dry formulations. However, the dry formulation segment is expected to witness significant growth during the forecast period. The growth of this segment is attributed to the benefits of dry formulations, such as ease of use and storage and low cost.
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Based on application technique, the seed treatment market is segmented into seed coating, seed dressing, and seed pelleting. In 2022, the seed coating segment is expected to account for the largest share of the seed treatment market. The large market share of this segment is attributed to the increasing need to protect seeds from external factors, such as fungi, parasites, pathogens, and extreme temperatures. However, the seed dressing segment is expected to witness significant growth during the forecast period due to the increasing development of seed dressing products and its growing preference in developed countries.
Based on crop type, the seed treatment market is segmented into cereals & grains, oilseeds, and other crops. In 2022, the cereals & grains segment is expected to account for the largest share of the seed treatment market. The large market share of this segment is attributed to the growing need to increase cereal & grain production, minimize cereal & grain loss due to pests and diseases, and their increasing use in animal feed, biofuel, and starch & ethanol production. However, the oilseeds segment is expected to witness significant growth during the forecast period. The growth of this segment is attributed to the rising production of oilseeds to meet the global demand for edible oil and feed meal and the increasing application of oil in biodiesel.
Based on geography, in 2022, North America is expected to account for the largest share of the seed treatment market. The major market share of North America is attributed to the growing demand for high-yielding and disease-tolerant crops from domestic markets and export destinations. Moreover, factors such as an organized distribution chain for crop protection chemicals, the availability of water and land, entrepreneurial farmers, the growing awareness about sustainable crop production techniques to lessen environmental impact, and the presence of a large number of stakeholders support the growth of this market in the region.
In 2022, the U.S. is expected to account for the largest share of the seed treatment market in North America. The large market share is attributed to the need for innovations to meet the food needs of a growing population, increasing demand for agricultural sustainability, consumer interest in organic products, weed & insect resistance to chemicals used in agriculture, and concerns about the environmental impacts of current agricultural practices.
Some of the key players operating in the seed treatment market include Bayer AG (Germany), Syngenta AG (Switzerland) (a part of China National Chemical Corporation/ChemChina), BASF SE (Germany), Corteva Inc. (U.S.), UPL Limited (India), Nufarm Limited (Australia), FMC Corporation (U.S.), Tagros Chemicals India Ltd. (India), Germains Seed Technology (U.K.) (Part of Associated British Foods Plc), Verdesian Life Sciences, LLC (U.S.), Novozymes A/S (Denmark), Valent BioSciences LLC (U.S.), Croda International Plc (U.K.), and Precision Laboratories, LLC (U.S.).
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Scope of the Report:
Seed Treatment Market, by Type
- Chemical Seed Treatment
- Insecticides
- Fungicides
- Other Chemical Seed Treatments
- Biological Seed Treatment
- Microbial
- Biofertilizers
- Nitrogen-fixing Bacteria
- Rhizobia Bacteria
- Azospirillum
- Other Nitrogen-fixing Biofertilizers
- Other Biofertilizers
- Nitrogen-fixing Bacteria
- Biopesticides
- Bioinsecticides
- Bacillus Thuringiensis
- Beauveria Bassiana
- Lecanicillium Lecanii/Verticillium Lecanii
- Metarhizium Anisopliae
- Baculoviruses
- Other Bioinsecticides
- Biofungicides
- Trichoderma Viride
- Pseudomonas
- Bacillus
- Streptomyces
- Trichoderma Harzianum
- Other Biofungicides
- Bionematicides
- Bacillus Firmus
- Other Bionematicides
- Bioherbicides
- Bioinsecticides
- Biostimulants
- Biofertilizers
- Biochemical
- Other Biological Seed Treatments
- Microbial
Seed Treatment Market, by Formulation
- Liquid Formulation
- Dry Formulation
Seed Treatment Market, by Application Technique
- Seed Coating
- Seed Dressing
- Seed Pelleting
Seed Treatment Market, by Crop Type
- Cereals & Grains
- Corn
- Wheat
- Other Cereals & Grains
- Oilseeds
- Soybean
- Cotton
- Canola
- Other Crops
Seed Treatment Market, by Function
- Seed Protection
- Seed Enhancement
Seed Treatment Market, by Geography
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- U.K.
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- Rest of East Asia
- South & Southeast Asia
- India
- Indonesia
- Rest of South & Southeast Asia
- Australasia
- Latin America
- Brazil
- Argentina
- Mexico
- Chile
- Rest of Latin America
- Middle East & Africa
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