Global Seed Treatment Market is estimated to account for US$ 9.8 Billion by end of 2027, Says Coherent Market Insights (CMI)
SEATTLE, March 16, 2021 (GLOBE NEWSWIRE) — In horticulture and agriculture, seed treatment or seed coating is done with products that are antifungal, such as usually fungicide or antimicrobial, with which the seed is coated before planting. Commonly, fungicides are used in this case, though less often pesticides are added. Seed treatment is a vital step towards the eventual growth of a well-developed seedling. In conventional cultivation, crops are sprayed with seeds coated with chemicals before being planted. The spray is meant to kill off pests before the seeds get a chance to sprout; however, it also destroys any other naturally occurring species that might grow alongside the crop.
Seed treatments such as seed coatings prevent pests from developing in the seed. For instance, insects that feed on fruits or plants cannot survive through the application of these chemicals. Sometimes, the treatment will even stunt their growth. The result is that the crop that would have grown in its place is unaffected by the treatment, and can continue to produce for years.
The global seed treatment market is estimated to account for 9.8 Billion in terms of value by the end of 2027, witnessing a CAGR of 9.2% during the forecast period (2020 to 2027).
Market Drivers:
Rapid increase in corn production is expected to propel growth of the global seed treatment market during the forecast period
The cultivation of corn is increasing across the globe owing to the increasing demand for biofuels. For instance, according to the U.S. Department of Agriculture, in 2019 Minnesota ranked first in the world in sweet corn harvesting, of the 7.26 million corn acres that were harvested in the region in 2019, 99100 acres were harvested for sweet corn. However, when it comes to corn production, Washington State is expected to contribute the biggest share, wherein 2019 around 21,330,000 billion units of corn grains were produced.
Increasing world population is expected to drive growth of the seed treatment market
The world population is increasing rapidly every day hence there is always a probability of global food scarcity. In such a scenario treating seeds with proper treatment methods increase the proximity of better germination resulting in better cultivation.
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Market Opportunities:
Growing requirement for sustainable farming is increasing the demand for biological seed treatment mainly in emerging nations, which is estimated to provide better market opportunities. For instance, chemical-less seed treatment is gaining importance as it includes bacteria, biological agents, and fungus. In the process, the bacteria are released into the soil to protect the seeds from soil-borne diseases and to colonize them. According to World Wide Fund for Nature, the global sustainable farming industry generates around US$ 1.3 trillion worth of food and employs around 1 billion people.
Increasing concerns related to rising environmental impacts and food safety are expected to provide mass opportunities for the seed treatment market. For instance, according to the United Nations, around 821 million people in the world are undernourished. The present ongoing development in the agriculture industry along with the expansion of the food industry owing to the rapid expenditures on food products by all income groups is expected to propel the growth of the seed treatment market over the forecast period.
Market Trends:
The consumption of organic foods is the main trend in the market is expected to improve the consumer lifestyle and can also increase the disposable income of the consumers. Rising awareness related to the health benefits of consuming organic food products is estimated to augment the seed treatment market growth. Moreover, the increasing popularity of insecticides and fungicides among farmers is expected to bolster the growth of the seed treatment market. For instance, according to Health eCareers, of the total food sold in the U.S., organic food products comprise 5.7% of the share and are readily available in any grocery store.
Partnership and distribution agreement between the key manufacturers is a significant trend in the market and this trend is estimated to bolster growth for the market along with the expansion of technology and modern treatment practices. For instance, in December 2020, Advanced Biological Marketing announced 2020 a new seed treatment for row crops.
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Competitive Landscape:
Major players operating in the global seed treatment market are Sumitomo Chemical Co. Ltd., Chemtura Agro Solutions, Nufarm Ltd., DuPont, Dow Agro Sciences, BASF, Advanta India Ltd, Monsanto, Bayer CropScience AG, and Syngenta.
In April 2019, IHARA launched CERTEZA N, which is a fungicidal seed treatment product
In May 2019, Syngenta launched VAYANTIS, which is a fungicidal seed treatment product used for soybeans, corns, canola, and other cereals.
Market segmentation:
By Source
- Plant Origin
- Animal Origin
By Application
- Cereals and Crops
- Fruit and Vegetables
- Lawns and Turfs
By Form
- Solid
- Liquid
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Contact Us:Mr. ShahSenior Client Partner – Business DevelopmentCoherent Market InsightsPhone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837Email: [email protected]: https://www.coherentmarketinsights.com
