New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Seed Treatment Global Market Report 2023" - https://www.reportlinker.com/p06479851/?utm_source=GNW
Ltd., Bioworks Inc., Novozymes A/S, Eastman Chemical Company, Monsanto and Agrauxine SA.
The global seed treatment market is expected to grow from $10.06 billion in 2022 to $11.10 billion in 2023 at a compound annual growth rate (CAGR) of 10.32%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The seed treatment market is expected to reach $16.64 billion in 2027 at a CAGR of 10.64%.
The seed treatment market includes revenues earned by entities by providing services such as seed disinfection, seed disinfestation, and seed protection.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Seed treatment refers to the process of applying various agents to seeds before planting to protect them from diseases and pests. It is commonly used to improve the seed’s germination and enhance its overall growth.
North America was the largest region in the seed treatment market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of chemicals in seed treatment are insecticides, fungicides, chemicals, and non-chemicals, with various types of formulations including liquid solution, powder, emulsion, flowable concentrate, water dispersible powder for slurry, and others.Insecticides refer to chemical or biological agents that are used to control or kill insects that can cause damage to crops.
These are used to perform several functions, such as seed protection and seed enhancement, with several types of crops, such as oilseeds, cereals and grains, fruits and vegetables, and others. These are used for several applications, including seed coating, seed dressing, and seed pelleting.
The increasing number of seed- and soil-borne diseases is expected to propel the growth of the seed treatment market going forward.Seed- and soil-borne diseases refer to plant diseases that are caused by pathogens that live in the soil or on seeds.
Seed- and soil-borne diseases are primarily treated through seed treatment, which can protect crops by providing a cost-effective and efficient means of controlling diseases and helping to increase crop production efficiency.For instance, in June 2021, according to a report shared by the Food and Agriculture Organization (FAO), a US-based specialized agriculture agency, in 2020, 40% of the global crop production is estimated to be lost annually due to pests and the rise in seed- and soil-borne diseases.
These plant diseases cost the global economy approximately $220 billion each year, while invasive insects cost around $70 billion.Furthermore, in March 2021, according to the International Feed Federation, a Switzerland-based agency representing the interests of the professional seed industry at the global level, it will be an immense task for agriculture to generate enough healthy food for a population that is estimated to exceed 10 billion by 2050.
Therefore, the increasing number of seed- and soil-borne diseases is driving the growth of the seed treatment market.
Product innovations are a key trend gaining popularity in the seed treatment market.Major companies operating in the seed treatment market are innovating new products to sustain their position in the market.
For instance, in May 2022, Bayer AG, a Germany-based pharmaceutical company, launched the Routine Start 280FS, an innovative seed treatment that helps farmers overcome rice blast (leaf blast) issues for greater yields.In order to increase crop yield and resource efficiency for rice farmers, a new seed treatment solution was developed to guard early-season rice seeds against rice blast fungus.
This is an ideal solution that aids farmers in resolving this issue while safeguarding the environment and food supply.This solution is made possible through a combination of scientific discoveries, technology, and knowledge in seed treatment.
Routine Start 280FS technically contains both isotianil (200 g/l) and trifloxystrobin (80 g/l) to activate the plants’ natural defenses and enable them to successfully protect themselves from blast infections during the first 40–50 days after sowing, sparing rice growers from having to apply at least one or two foliar fungicide applications.
In January 2023, Growmark Inc., a US-based agriculture company, acquired Allied Seed LLC for an undisclosed amount. With this acquisition, Allied Seed complements Growmark’s entire supply and growth plans and places the company in a good position to address the rising demand for cover crops as part of an all-encompassing on-farm sustainability strategy. Through this acquisition, Allied Seed is expected to provide services including production, blending, packaging, and seed treatment, in addition to a broad array of forage, turf grass, and cover crop seed. Allied Seed LLC is a US-based crop seed company that provides crop seeds and seed treatment products.
The countries covered in the seed treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The seed treatment market research report is one of a series of new reports that provides seed treatment market statistics, including seed treatment industry global market size, regional shares, competitors with a seed treatment market share, detailed seed treatment market segments, market trends and opportunities, and any further data you may need to thrive in the seed treatment industry. This seed treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479851/?utm_source=GNW
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