Seed treatment is the process of treating seed by applying biological, physical, and chemical agents to plant in order to enhance crop productivity. Seed treatment helps in the prevention of soil- and seed-borne disease and also reduces the germination time. Neonicotinoids are the most commonly used insecticides for the seed treatment application.
The global seed treatment market was estimated to be valued more than US$ 4.8 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 9.2% during the forecast period (2020 to 2027).
Expanding agriculture industry and increasing research and development activities in the field of seed treatment is projected to foster the market growth of seed treatment. Increasing adoption of advanced farming practices in order to meet the evolving demand around the globe is also expected to accelerate the market growth. Moreover, the growing demand for healthy fruits and vegetables due to rising health-conscious consumers is further expected to fuel the market growth of seed treatment.
Growing demand for insecticides due to changing climatic conditions is expected to provide lucrative opportunities for the market of seed treatment. For instance, in May 2017, UPL announced the launch of the insecticide Start (fipronil) for seed treatment, in Brazil. The product, which can be used both in the industrial system, as well as "on farm", was registered in the country for soybean, corn, rice, cotton, kidney bean, barley, pasture, and wheat crops.
Difficulties in product formulation and registration for the seed treatment application is projected to act as a challenge for the market of seed treatment. Moreover, the ban on the use of Neonicotinoid in some regions especially across Europe as it was suspected to have adverse effects on pollinating insects is expected to hamper the market growth of seed treatment.
On the basis of application, insecticides dominated the global seed treatment market in 2019 with around 53% of market share in terms of revenue, followed by fungicides and others, respectively.
Increasing investment by the government on the agriculture industry to promote farming practices is a major trend in the market. The agriculture industry is a primary source of livelihood and is one of the largest sectors in India. Moreover, increasing export of the agriculture products from India is also expected to foster the market growth of seed treatment. Total agricultural exports from India grew at a CAGR of 14.61% over FY10-19 to reach US$ 38.54 billion in 2019. In 2020, agriculture exports were US$ 22.69 billion.
Increasing adoption of advanced technology for the application of the seed treatment chemicals is expected to be a major trend in the market. For instance, in May 2020, Syngenta has launched the TYMIRIUM technology platform brand. It is a novel nematicide and fungicide technology under development for both seeds- and soil-applied uses. TYMIRIUM technology provides long-lasting protection against a broad spectrum of nematode pests and diseases across all major crops and geographies.
Global Seed treatment Market - Impact of Coronavirus (Covid-19) Pandemic
Companies involved in production of agrochemicals, are facing short-term operational difficulties owing to supply chain constraints and nation-wide lockdowns owing to Coronavirus (Covid-19) Pandemic. However, the global seed treatment market is expected to stabilize after end quarter of 2020 with recovering of global economy.
Key players are operating in the global seed treatment market are Syngenta, Bayer CropScience AG, Monsanto, BASF, Advanta India Ltd, Dow Agro Sciences, DuPont, Nufarm Ltd., Chemtura Agro Solutions, and Sumitomo Chemical Co. Ltd.
Few Recent Developments
By Crop Type
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