NEW YORK, July 26, 2021 /PRNewswire/ — Seed treatment activities are picking up around the world, as the pressure on the agrarian community is mounting due to the booming population. Additionally, the increasing government and private company efforts to conduct research and development (R&D) in the domain are leading to the availability of advanced seed treatment technologies. These factors took the global seed treatment market value to around $6.0 billion in 2020, and they will continue to drive it at a significant rate between 2021 and 2030, according to P&S Intelligence.
Owing to the disrupted manufacturing and transportation activities during the COVID-19 pandemic, the seed treatment market witnessed a negative impact. However, the relaxations provided to the agricultural sector by governments helped cushion the blow to a significant extent. As food is indispensable for survival, the high population kept the demand for seed treatment products during the pandemic high.
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On segmenting the market by crop type, the categories are cereals & grains, fruits & vegetables, oilseeds, and others. In 2020, the cereals & grains category held the dominating value and volume shares in the seed treatment market, and the same is projected for the entire forecast period. The changing taste preferences, occupational structures, and lifestyles and rapid urbanization are propelling the consumption of cereals & grains around the world.
Biological and chemical are the bifurcations of the seed treatment market under segmentation by product type. Of these, the larger share, in terms of value and volume, was held by the chemical bifurcation over the historical period (2015–2020). Chemical treatment improves the germination process, which helps protect crops from damage, thereby increasing the yield.
Browse detailed report with COVID-19 impact analysis on Seed Treatment Market Research Report: By Product Type (Chemical, Biological), Crop Type (Cereals & Grains, Oilseeds, Fruits & Vegetables), Application Method (Dressing, Coating, Pelleting), Application Time (Pre-Treatment, Farm Treatment) – Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/seed-treatment-market
Asia-Pacific (APAC) was the most-productive seed treatment market till 2020, and it will continue on this path till 2030. Home to the most people on earth, APAC’s food requirement is naturally the highest. As a result, agricultural activities and the focus on cultivating high-quality crops are surging in the region, thereby driving the consumption of seed treatment products.
In order to gain a wider consumer base and help feed the booming population, companies in the seed treatment market are introducing new products. For instance, in March 2020, a non-neonicotinoid-based seed treatment product, named Lumivia CPL, was launched by Corteva Inc. It can be used to keep pests away from cereal, lentil, and pea crops.
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The major players in the global seed treatment market are BASF SE, Novozymes A/S, Bayer AG, Syngenta AG, FMC Corporation, Corteva Inc., Adama Ltd., UPL Ltd., Croda International Plc, Nufarm Limited, Germains Seed Technology, Eastman Chemical Company, Globachem N.V., Verdesian Life Sciences LLC, and Valent USA Corporation.
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SOURCE P&S Intelligence