Hyderabad, March 31, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Seed Treatment Market - (2023 – 2028),” the market is expected to register a CAGR of 9.1%. Seed treatment is critical in protecting seeds and seedlings from seed and soil-borne diseases, as well as insect pests that affect crop emergence and growth. The advancement of seed treatment technology, rising government support, and farmers' increasing demand for high-quality seeds will drive market growth during the forecast period.
The growing interest in high-quality seeds:
The rising popularity of hybrid and genetically modified seeds is a major factor driving the global seed treatment market's expansion. Due to increased regulatory issues relating to fumigation and foliar pesticide application, farmers increasingly consider seed treatment to protect their investments in high-quality seeds.
- Owing to an increase in the demand for high-quality seeds with desirable agronomic traits, the cost of seeds is expected to increase.
- Both companies and farmers are ready to spend on seed treatment solutions to save high-quality seeds.
- For example, Syngenta conducted a trial program for VICTRATO, a pioneering seed treatment for the prevention of crown rot in wheat, durum, and barley.
- The formulation was improved for Australia with assistance from the Seedcare Institute (SCI), a worldwide network of Syngenta facilities.
- Farmers are also trying to cut down operating costs by selecting seeds that do not require multiple doses of chemicals.
- The initial protection of these engineered seeds is ensured by using seed treatment products.
- In the past seven years, the seed’s portion of total operating costs for corn has increased from about 28% to 32%.
As most GM seeds are more productive as they are treated with biological and chemical treatments, there is an increase in area under GM crops, which is expected to positively affect the growth of the seed treatment market.
How is the growth being addressed?
Europe had the largest share of the seed treatment market, with Spain having the largest market, followed by France, Germany, and Russia. The growing popularity of agriculture in the region, as well as the need for higher-quality seeds, are the primary drivers of market growth. Seed treatments are essential in major crops such as cereals (corn, barley, etc.) and fodder plants (alfalfa, clover, rapeseed, etc.) to prevent anthrax diseases such as decay and bare smut. Furthermore, seed treatments can help the crop's early growth.
According to a study, for every extra euro spent on seeds, compared to conventional seeds, farmers gained an additional EUR 4.95 (USD 4.93) in extra income. These income gains are due to higher yields from the use of improved techniques, including seed treatments, which influence the growth of the market.
In addition, the launch of seed treatment products by major seed-producing companies in this region aids the growth of the seed treatment market. For instance, in 2021, KWS, a German seed-producing company, launched a biological seed treatment product in partnership with biotech company Evologic Technologies.
Who are the key players in the Seed Treatment Market?
- Syngenta International AG
- Bayer CropScience AG
- BASF SE
- Corteva AgriScience
- Croda International PLC
- Nufarm Ltd
- Plant Health Care
- Precision Laboratories Inc.
- Valent Biosciences Corporation
- Verdesian Life Sciences
- Adama Agricultural Solutions Ltd
- Advanced Biological Marketing Inc.
- Bioworks Inc.
Recent developments in the Seed Treatment Market:
- In July 2022, Corteva Agriscience launched two new seed treatment packages with multiple new products for corn and canola crops that will help growers with a broad spectrum of insect and disease control.
- In May 2022, Syngenta Seedcare launched Victrato, a seed treatment product that targets nematodes and key soil-borne fungal diseases and increases the quality and yield of many crops, including soybeans, corn, cereals, cotton, and rice.
- In May 202, Bayer launched Routine Start, a new seed treatment solution to safeguard early-season rice seeds from rice blast fungus and enhance crop productivity and resource effectiveness for rice farmers.
In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/seed-treatment-market
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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