Newark, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 10.33 billion in 2022 seed treatment market will reach USD 24.15 billion by 2030. The destructive repercussions of climate change are being felt in the modern world. The increased use of chemicals in unsustainable farming methods has also contributed to the climate issue. Environmental degradation has been exacerbated by soil erosion, deterioration, pollution, and lower agricultural quality. Such occurrences have an immediate impact on global food security. As a result, there is an increasing need and urgency for developing and implementing sustainable practices across the board. The use of seed treatment is pushed globally as a sustainable, efficient, and ecologically beneficial approach to improve crop yield and reduce the instances of diseases in plants. Seed treatments are also promoted to reduce the use of chemicals in agriculture.
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Key Insight of the seed treatment Market
Asia Pacific is expected to grow at the fastest during the forecast period.
Asia Pacific is expected to grow at the fastest during the forecast period 2022-2030. The vast population of the region driven by India and China have increased the demand for food. Food security is of utmost importance to these countries, given their population and rising global uncertainties. China and India are also one of the largest producers of several grains, cereals, oil seeds, fruits and vegetables. Given the extensive producer and consumer market, the seed treatment industry will benefit from the region's growth by tapping into its vast potential. The advancements and establishment of several market players will also augment the region's growth. Favourable government policies promoting sustainable and low-cost farming practices also bode well for the regional market's growth.
The seed coating segment is expected to augment the seed treatment market during the forecast period.
The application segment is divided into seed dressing, seed pelleting, seed coating, and others. The seed coating segment dominated the market with a market share of around 41% in 2022.
The fruits and vegetable segment market size is 3.82 billion in 2022
The crop type segment is divided into cereals, fruits and vegetables, oil seeds, grains, pulses, ornamental crops and others. The fruits and vegetable segment dominated the market with a market share of around 37% in 2022.
The non-chemical segment is expected to augment the seed treatment market during the forecast period.
The type segment is divided into chemical and non-chemical. The non-chemical segment is expected to grow at the fastest CAGR of 14.52% during the forecast period 2022-2030.
The seed protection segment market size is 6.09 billion in 2022
The function segment is divided into seed protection and seed enhancement. The seed protection segment dominated the market with a market share of around 59% in 2022.
Advancement in market
December 2022 - EVOIA is introducing its first biochar-based seed treatment product. AmpliFYR is being used in maize, soybeans, wheat, and other row crops in the spring of 2023. AmpliFYR, a charcoal extract-based product available in 15 states, promotes seedling root and shoot growth. The seed treatment adheres to California Department of Agriculture (CDFA) and Organic Materials Review Institute criteria for the USDA National Organic Program USDA BioPreferred programme as 100% biobased fertilizing materials.
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Market Dynamics
Driver: the rising popularity of sustainable farming practises
In order to secure global food security, modernized farming is required, which can boost yields, optimize resources, encourage sustainability, and improve food quality. The worldwide seed treatment market will benefit from the increased focus on creating genetically modified seeds, high-yielding crops, and smart irrigation techniques. The market will be driven by the use of seed treatment to safeguard the seed and the health of the ensuing crop while also enhancing its quality. The likelihood of crops failing in the face of harsh weather occurrences would decrease with a seed treatment. They would safeguard the crop against pests' and insects' illnesses, delivering high-quality output. As a result, the increased focus on food security in the face of climate change, changing land use patterns, and geopolitical unpredictability will spur the market’s growth.
Restraint: strict monitoring and regulation of the seed treatment industry
Given the crucial significance of food in the economy, all farming and agricultural products are thus strictly watched, controlled, and regulated. Careful consideration must be given before commercializing new contemporary farming inputs or procedures to safeguard this vital business. For example, a decision by authorities to approve an unsustainable seed treatment could destroy a crop. This would have an effect on the seasonal yield, leading to a crisis in the food supply. Additionally, it might hinder the country's capacity to export agricultural products, harming the government's finances and image abroad. As a result, the market for seed treatments is subject to strict regulatory rules. The growth of the industry is constrained by the several federal agencies and international organizations that have numerous regulations that are contradictory and overlapping.
Opportunities: product innovations in biologics
Treatments for seeds involve a lot of chemicals. However, both the customer and the environment suffer due to these activities. Consumers are increasingly more aware of the harm agricultural chemicals do to the environment and their health. They seek environmentally responsible and sustainable farming methods. The seed treatment business is responding to these expectations by creating seed treatments that are biodegradable, sustainable, and environmentally friendly. These product breakthroughs are made possible by the current world's technological advancements. As a result, the market participants and the sector would benefit greatly from technological developments and product innovations in the seed treatment market.
Challenge: domestic players dominate the market
Agriculture relies heavily on the land's geographic characteristics, including weather patterns, climate, soil type, elevation, latitude and longitude, water availability, and a host of other factors. As a result, no one approach to farming will always produce the most output. Farming operations, seeds utilized, irrigation techniques, and other practices are extremely localized according to the local needs and resource availability. The domestic players are more significant than the main international players in the seed treatment business. The seed treatment business is so fragmented that foreign companies have no room for expansion to attract additional customers. Unlike foreign players, indigenous players offer better items for the area at reasonable pricing. As a result, the extremely fragmented market will limit the ability of the key market players to develop the market.
Some of the major players operating in the seed treatment market are:
• BASF SE
• Bayer AG
• Corteva Agriscience
• Croda International PLC
• DuPont
• FMC Corporation
• NuFarm
• Sumitomo Chemical Co. Ltd.
• Syngneta AG
• UPL Limited
Key Segments cover in the market:
By Application
• Seed Dressing
• Seed Pelleting
• Seed Coating
• Others
By Crop Type:
• Cereals
• Fruits and Vegetables
• Oil Seeds
• Grains
• Pulses
• Ornamental Crops
• Others
By Type:
• Chemical
• Non-Chemical
By Function:
• Seed Protection
• Seed Enhancement
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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