Chemical Seed Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The chemical seed treatment market is projected to register a CAGR of 4.8% during the forecast period (2021-2026). The impact of the COVID-19 pandemic on the seed treatment market has been minimal, mainly due to transportation barriers. The impact of lockdowns or disruptions has been exempted by the government for all types of agricultural activities, hence there has been no such effect of corona outbreak. Indeed, the agrochemical companies have made double-digit profits as compared to last year, due to panic buying behavior from farmers. Growing awareness among farmers over the use of seed treatment has resulted in support from the government.​ Multiple seed banks are being managed by the governments of developing countries, at the national, as well as village levels, in order to store seeds that are properly treated by seed treatment chemicals, hence preventing the rotting of seeds. Encouraging government regulations and campaigns over the use of seed treatment is driving the market.​ The global market for seed treatment comprises chemical agents, including insecticides, fungicides, and other chemicals, of which chemical agents form the most dominant application segment.

Scope of the Report

Seed treatment products or the chemicals that are used to coat or treat the seeds before sowing to ensure high germination percentage. Chemical Seed Treatment Market is segmented by Chemical Type (Insecticides, Fungicides, and Other Chemicals), Crop Type (Corn, Soybean, Wheat, Rice, Canola, and Cotton), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East & Africa).

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Key Market Trends

Increase in Cost of High-Quality Seeds driving the Market

High costs associated with hybrids and genetically modified seeds is a major factor driving the growth of the seed treatment market, globally. Seed treatment is gradually being considered by farmers as a mode to protect investments made on good quality seeds, due to an increase in regulatory issues relating to fumigation, as well as the foliar application of pesticides. Cost of seeds is expected to increase, owing to a increase in the demand for high-quality seeds, with desirable agronomic traits. Both companies and farmers are ready to spend on seed treatment solutions, in order to save high-quality seeds. According to USDA estimates of 2019, corn seeds cost about 300% since 1995, while the yield grew by only 35%. Framers are trying to cut down operating costs by selecting seeds that do not require multiple doses of chemicals. The initial protection of these engineered seeds is ensured by using seed treatments products.

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