The global seed treatment market is estimated to be valued at USD 6.4 billion in 2020 and is projected to reach USD 11.3 billion by 2025, recording a CAGR of 12.1%. The growth of the seed treatment market is driven by various factors, high demand for sustainable agriculture in the global market, minimum pesticide usage and acts as insurance for seed investment.
Key players in the seed treatment market include BASF SE (Germany), Bayer AG (Germany), Novozymes A/S (Denmark), Syngenta AG (Switzerland), Corteva Agriscience (US), FMC Corporation (US), Adama Ltd (Israel), Croda International (UK), UPL Ltd (India) and Nufarm (Australia). Product innovations, expansions, mergers & acquisitions, agreements, collaborations, and partnerships were some of the core strengths of the leading players in the seed treatment market.
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These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other leading players in the seed treatment market include EastMan Chemicals (US),Germains Seed Technology (UK), Precision Laboratories, LLC (US), Globachem (Belgium), Rhizobacter (Argentina), Valent USA (US) and Verdesian Lifescience (US).
BASF SE (Germany) has one of the largest crop protection division, involved in the research, development, production, and selling of crop protection products for better crop yield. It manages its business primarily through functional materials & solutions, chemicals, performance products, agricultural solutions, and others. It provides seed treatment solutions through its seed division, which is designed to protect and exploit the full genetic potential of the seed. The acquisition of Bayer AG (Germany) in 2018, has enabled BASF SE to strengthen its crop protection business, offering wide range of products, expanding geographical presence and improving the potential growth across the world. The company has a huge set up of R&D facilities and business units in the key Asia Pacific markets, such as China and Australia and a wide network of dealers and distributors spread worldwide, who have created a strong brand image of crop protection chemicals attracting more farmers. The company has managed to implement a successful safety measure and carry out its productions even amidst COVID-19 outbreak.
Bayer AG (Germany) is the largest life sciences company operating through four business segments, namely pharmaceuticals, consumer health, animal health, and crop science. It delivers a wide range of products, such as insecticides, fungicides, nematicides, plant growth regulators, and seeds, under its crop protection/seeds business segment. The acquisition of Monsanto (US) in 2018, has been a big milestone in Bayer’s history of developments, which has allowed the company to enhance its research on RNAi technology for improving the available solutions for crop protection.
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In 2018, the company received marketing authorization in many countries for new mixtures and formulations, which will further strengthen its global presence. It has also expanded its global presence, clubbed with high levels of investments in R&D activities to serve its customers with innovative products. The company offers seed treatment technologies under its seed growth business segment, with a popular brand name Acceleron. Some of the majorly used seed treatment chemicals by farmers are Gaucho, Thiram and Poncho with application on variety of seeds.The launch of first dry rice seed treatment for bakanae disease in rice in 2019, has gained more popularity in the Chinsese market.
