The global seed treatment materials market is expected to be valued at US$ 2.6 Billion in 2022. As the world’s population grows, so does the demand for food security, particularly in developing and impoverished countries. These are the main aspects that are expected to fuel market growth over the forecast period, the overall demand for Seed Treatment Materials is projected to grow at a CAGR of 9% between 2022 and 2032, totaling around US$ 6.8 Billion by 2032.
Globalization will be a development engine in low-income nations, providing a significant boost to agricultural methods. Until recently, the annual growth rate of agricultural production was roughly 3%. Agriculture output has increased at a quicker pace of 4-6% each year as a result of globalization. The industry will see increased demand in Asia Pacific as well. Growing knowledge of the benefits of biological seed treatment materials will drive expansion in the region’s high-potential markets. One important factor to note is that the worldwide seed treatment industry is characterized by considerable capital investment, particularly in developed regions.
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The expanding agriculture sector and increased research and development efforts in the field of seed treatment are expected to drive seed treatment market expansion. Increased adoption of modern agricultural methods to fulfill changing global demand is also projected to boost market expansion. Furthermore, increased health-conscious customer demand for nutritious fruits and vegetables is likely to boost seed treatment market expansion.
Adoption of new technologies for the application of seed treatment chemicals is predicted to be a prominent market development. Syngenta, for example, will debut the TYMIRIUM technology platform trademark in May 2020. It is a revolutionary nematicide and fungicide technology that is being developed for both seed and soil applications. TYMIRIUM technology offers long-term protection against a wide range of nematode pests and illnesses in all major crops and geographies.
Key Takeaways from the Market Study
- From 2017 to 2021, the market demand expanded at a CAGR of 9%
- By crop type, Sugar beets & vegetables dominates the market in 2022.
- By treatment method, the biological seed treatment constitutes the bulk of market share in 2022
- By 2032, the market value of Seed Treatment Materials is expected to reach US$ 6.8 Billion
- Europe to be a significant contributor to the Seed Treatment Materials market revenue landscape.
Technological advancements that enable efficient manufacturing, product portfolio expansion, sophisticated design and packaging, effective operational maintenance, and sales monitoring are positively influencing the growth of Seed Treatment Materials in the global market, remarks an FMI analyst.
Companies are focusing their efforts on new product launches, mergers, and acquisitions, all of which aid in increasing market share. The development of bio-based seed treatment solutions offers great growth potential over the forecast period, with benefits such as environmental sustainability and reduced product development and launch costs. Some of the recent developments among the key players are:
- In January 2021, Corteva Agriscience opened a new Centre of Seed Applied Technologies (CSAT) in south-west France, which is involved in seed treatment, including Lumiposa and Lumivia for insecticide seed treatment control, Lumisena and Lumflex for fungicide seed treatment control, and Lumidapt, a seed-applied growth nutrition for all hybrid crops.
- In December 2020, BASF introduced three new soybean seed treatment solutions, Vault IP Plus seed treatment, Poncho XC seed treatment, and Relenya seed treatment.
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Know More about What the Seed Treatment Materials Market Report Covers
Future Market Insights offers an unbiased analysis of the global Seed Treatment Materials Market, providing historical data for 2016-2021 and forecast statistics from 2022-2032.
To understand opportunities in the Seed Treatment Materials market, the market is segmented on the basis of crop type, treatment type, form, coating type and application across six major regions.
About the Food and Beverages Division at Future Market Insights
The food and beverages team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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