Increasing Demand for Seed Treatment Fungicides Market due to Continuous Innovations & Advanced Farming Technologies

The seed treatment fungicides market is projected to reach a value of USD 1.88 billion by 2022, at a CAGR of 9.24% from 2017 to 2022. The market is driven by factors such as advanced farming technologies, which ensure safe and reliable application of seed treatment formulas. Continuous innovations in the field of seed treatment fungicides have resulted in enhanced seed performance and germination. Thus, for farmers, fungicide seed treatment is both a safe investment as well as insurance against high value GM crops. Biological seed treatment is a small but an emerging segment that is expected to grow tremendously due to government endorsement of reduction in the use of agrochemicals. The increased demand for biological control of pathogens and consequent increase in research & development activities directed towards multifunctional and environment-friendly products present seed treatment material providers with lucrative opportunities.

Increasing investments in R&D capabilities of the key players for innovating new seed treatment fungicides products, along with the increased expenditure on innovating new and cost-effective production processes of seed treatment fungicides is expected to change the business landscape in the next five years.

On the basis of type, the biological seed treatment fungicides segment is projected to grow at a relatively higher CAGR from 2017 to 2022. The growth of the organic food market has led to the development of effective technologies for biological control, which in turn has led to the growth of the biological seed treatment fungicides market.

On the basis of crop type, the cereals & grains segment is projected to grow at the highest growth rate in the global seed treatment fungicides market from 2017 to 2022. With an increase in consumption of cereals & grains in the developing countries and fungal attacks on their seeds through soil-borne and seed-borne fungi, the demand for seed treatment fungicides market in agriculture has also increased.

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On the basis of form, the market for liquid seed treatment fungicides is expected to grow at a higher rate since liquid seed treatment fungicides provide greater stability, reduce dust hazards, and intensify adhesion on the seed.

Increased usage of specific seed treatment fungicides based on crop type due to the growth in awareness over the past few years and growth & development in the crop protection industry, have opened new opportunities for the seed treatment fungicides industry. The cereals & grains segment dominated the seed treatment fungicides market in 2016; it is projected to grow at the highest growth from 2017 to 2022.

Key industrial players are expanding their operations in the emerging markets to increase their geographical presence and customer base. Global seed treatment fungicides manufacturers are actively involved in the implementation of various R&D activities to discover novel products. This is expected to lead to the development of the seed treatment fungicides market.

The fastest-growing market for seed treatment fungicides is projected to be South America between 2017 and 2022. The driving factors for the market in this region are increased usage of all types of seed treatment fungicides due to high levels of commercialization in the agricultural sector. Moreover, this region is an overall leading exporter of many cereals & grains. The U.S. market for seed treatment fungicides accounted for the largest share of the North American market in 2016. Prominent players in this market are BASF SE (Germany), Dow AgroSciences LLC (U.S.), Sumitomo Chemical Co., Ltd (Japan), and Bayer CropScience AG (Germany). These market players have been developing a range of innovative products customized as per the needs of the farmers. They continue to expand and invest, in order to increase their market share and expand across different countries in the European region. These players adopted various strategies such as new product launches, expansions, and acquisitions and entered into agreements with leading and other local companies, to strengthen their geographical reach in the seed treatment fungicides market.

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