The global Seed Treatment Market is forecast to reach USD 20.78 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the Seed Treatment Market to maintain a stable growth rate over the forecast period. The adoption of modern farming techniques will provide strength to the Seed Treatment Market and will also help in its growth over the forecasted period.
Due to the pandemic, there are high chances of disruption in the supply chain and influence ingredients and raw material supplies. The financial crisis can let people shrink down their expenses, which can lead to a decrease in the demand of the food industry, adversely affecting the seed treatment market. Though food demand is inelastic, but there can be a change in the dietary patterns of the consumers. While the above reasons can lead to a negative impact, the inelasticity of demand for food will significantly result in the industry’s growth. Due to the COVID-19, the seed treatment industry manufacturers are adopting safety regulations and strategies, which may result in the industry’s growth over the forecast period.
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The COVID-19 impact:
With the outbreak of the coronavirus, WHO encourages people to take more aggressive steps to prevent the widespread of the virus and to abide by the rules and regulations created by the respective governments of each country. The farmers and the seed treatment industry manufacturers have been widely affected by the disruptions in the supply chain and influence ingredients and raw materials. To prevent the transmission of the COVID-19 virus, Lockdowns have been announced worldwide, which is hampering the transport of raw materials, thus obstructing the production. The COVID-19 pandemic also created a raw material price volatility for the manufacturers of the seed treatment products. The complete lockdown all over the world is causing a disturbance in the trade operations of the products. The pesticide value chain is directly affected by the lockdowns. The Manufacturers are depending on the raw materials which were kept for emergency purpose. The raw materials will be soon over pertaining to the current situation and the probable continuation of the lockdown.
Key participants include Syngenta International AG, BASF SE, Bayer CropScience AG, ADAMA Agricultural Solutions, UPL Limited, DuPont, Monsanto Company, Germains Seed Technology, Sumitomo Chemical Co., Ltd and Nufarm Limited, among others.
Further key findings from the report suggest
- The increasing demand in the agricultural sector for food grains and scarcity of the arable lands is driving the growth of the market. Increasing awareness among consumers regarding the environment and health have boosted the market.
- The government of several countries has restricted the use of chemical pesticides and is encouraging using biological seed treatment products. They are taking initiatives to promote the benefits of biological seed treatment products and providing grants for the research and development of seed treatment products.
- The market in the Asia Pacific is expected to grow at a CAGR of 10.7% over the forecast period making it the fastest-growing region in the seed treatment market. In order to minimize the use of excessive pesticides, there is a significant demand for seed treatment.
- The seed treatment market is adopting some wiser strategies in order to say competitive in between the growing demand for the products. Collaborations have been observed between prominent brands in order to increase their product portfolio and enter new markets. In order to hold the position of the products in the competitive market, companies are adopting effective marketing and branding strategies.
For the purpose of this report, Reports and Data have segmented the global Seed Treatment Market on the basis of type, crop type, application technique, function, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Chemical Seed Treatment (Insecticides, Fungicides, and others)
- Biological Seed Treatment (Biopesticides, Biofertilizers, and others)
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
Application Technique Outlook (Revenue, USD Billion; 2017-2027)
- Seed pelleting
- Seed Coating
- Seed Dressing
Function Channel Outlook (Revenue, USD Billion; 2017-2027)
- Seed Protection
- Seed Enhancement
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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