The soaring demand for food products, on account of the mushrooming population across the globe, is fueling the requirement for seed treatment products, as they assist in improving the productivity of crops. As per the United Nations (UN), the global population will surge from 7.7 billion in 2020 to around 8.9 billion by 2030. Seed treatment products are also used for protecting young plants and seedlings from various diseases and ensuring high crop yield.
Besides the aforementioned factor, the burgeoning requirement for biofuels, owing to the increasing environmental concerns over the deteriorating air quality level and escalating pollution levels, is also fueling the expansion of the seed treatment market. Different types of plants are used for producing biofuels. For example, bioethanol is made from the fermentation of the sugar produced from starchy crops, such as sugarcane. Thus, in order to make high quality biofuels, the seeds of the plants from which the sugar or oil is to be derived must be of high quality.
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Owing to this reason, the growing popularity of biofuels is driving the seed treatment market. As per P&S Intelligence, a market research firm based in India, the industry generated a revenue of ~$6 billion in 2020. Both biological and chemical seed treatment products are used for improving the quality of crops. Between these, the demand for chemical variants was found to be higher during the last few years. This was because of the ability of these products to provide improved germination, which is required for preventing crop damage.
Across the world, the demand for seed treatment products was observed to be the highest in the Asia-Pacific (APAC) region in the years gone by and this trend is predicted to continue in the coming years as well. This is credited to the surging farming activities, including high-volume crop production, especially in Vietnam, India, China, Australia, and South Korea, and skyrocketing demand for high-quality agricultural produce to cater to the region’s large population.
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Globally, the major players operating in the seed treatment market, such as Bayer AG, BASF SE, Germains Seed Technology, Croda International Plc, FMC Corporation, Novozymes A/S, Verdesian Life Sciences LLC, and Eastman Chemical Company, are focusing on product launches in order to gain an edge over their rivals. For example, Corteva Inc. developed Lumivia CPL, which is a non-neonicotinoid-based seed treatment product for peas, lentils, and cereals, in March 2020. This product uses an advanced method for managing pests.
Hence, the demand for seed treatment products will skyrocket in the coming years, primarily because of the surging need for higher agricultural productivity and biofuels across the world.
Market Size Breakdown by Segments
By Product Type
- Chemical
- Biological
By Crop Type
- Cereals & Grains
- Corn
- Wheat
- Rice
- Oilseeds
- Soybean
- Cotton
- Canola
- Sunflower
- Fruits & Vegetables
- Solanaceae
- Cucurbits
- Brassicas
- Leafy vegetables
- Root & bulb vegetables
By Application Method
- Dressing
- Coating
- Pelleting
By Application Time
- Pre-Treatment
- Farm Treatment
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
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