Market Size of Soybean Fungicide Seed Treatment Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 147.35 Million |
| Market Size (2029) | USD 190.76 Million |
| CAGR (2024 - 2029) | 5.30 % |
| Fastest Growing Market | South America |
| Largest Market | South America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Soybean Fungicide Seed Treatment Market Analysis
The Soybean Fungicide Seed Treatment Market size is estimated at USD 147.35 million in 2024, and is expected to reach USD 190.76 million by 2029, growing at a CAGR of 5.30% during the forecast period (2024-2029).
The market studied has been partially affected due to the COVID-19 pandemic, due to the logistics and supply constraints observed across the world. The restriction in movements of shipments and high air, sea, or land freight was observed to be a major factor disrupting the businesses, including seed treatment fungicides.
In the long run, increasing food demand, the rising innovation in crop protection technology, the increasing demand for biological seed treatments, and increasing government support would drive the global market of soybean fungicide seed treatment. Rising demand for biological seed treatment products has been observed in recent years. Recognizing this demand, the players are actively launching new biological seed treatment products in the market. In 2021, a new biological seed treatment, CeraMax, was registered under EPA to protect soybean crops from sudden death syndrome(SDS) produced by Ceradis BV.
Furthermore, the rising demand for higher yield due to the rapid increase in the consumption of crops has increased the demand for the seed treatment market in north America and South America. However, as as soybean plants grown in fields are highly prone to phytophthora root and stem rot and increasing awareness about the quality and safety of the seeds to protect from disease infestation, seed treatment practice in Asia-Pacific is also advancing at a faster rate.
Thus, the importance of treated seed, coupled with the strategies adopted by players, such as expanding market and innovating new technologies, is bound to lead to the growth of the soybean fungicide seed treatment market.
