Fungicides for seed treatment are growing at a CAGR of 9.34 percent from 2020 to 2025 and the market is expected to reach $3.3 billion by 2025. Seed treatment fungicides are in higher demand due to the increased use of seed treatment solutions on expensive genetically modified (GM) seeds. During the forecast period, growing public interest in sustainable and environmentally friendly products will boost overall market demand for Seed Treatment Fungicides.
Over the last ten years, the commercialization and growth of the global Seed Treatment Fungicides market has had a significant impact. Seed treatment fungicides are expected to grow in popularity due to increased demand from the food beverage industry and agriculture-based feed. In comparison to the traditional method, it is the most widely used technique due to its low cost, simple procedure and lack of additional labour requirements. This method shortens the time it takes for seeds to germinate and increases overall productivity. High investments in crop protection research and development as well as increased demand for food safety are expected to drive the growth of the seed treatment fungicides market over the forecast period. Chemical-based treatments on the other hand are expected to limit the growth of the seed treatment fungicides market due to strict regulations and negative environmental impact.
Fungicides for Seed Treatment Market Drivers
Increasing plant disease prevention
The best way to ensure good agricultural production is to keep the plants free of diseases which is where Seed Treatment Fungicides come in handy. To keep a healthy garden environment, pruning equipment clean and in good repair, don’t over-fertilize because fungal diseases thrive in wet environments, watering in morning so foliage has time to dry before nightfall. However, diseases can strike even when everything is in order. It’s important to remember that nearly all fungicides are protectants, which means they’re most effective when applied before the pathogen appears. Once established, full-fledged disease outbreaks are extremely difficult to control.
Regulations of the government are put into effect.
Agriculture is a priority for governments all over the world. Government regulations, such as the Indian government’s Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), will help the agriculture sector grow. All farmer families across the country will receive an income support of Rs.6000/- per year in three equal instalments of Rs.2000/- every four months under the Scheme, which will financially assist the farmers and allow them to focus more on farming. The market for Seed Treatment Fungicides will grow in tandem with the agricultural sector’s expansion.
Impact of COVID 19
COVID-19’s lockdowns, logistical disruptions, reduced productions and associated economic impacts continue to pose a threat to the global Seed Treatment fungicides market. Since the beginning, the global seed treatment industry has been impacted, primarily in China, the world’s largest producer and consumer of agriculture micronutrients. The outbreak of a novel coronavirus in China has had the greatest impact on China’s agriculture sector, affecting the movement of agricultural products and raw materials in and out of the country. Furthermore, the agriculture industries in the United States, Brazil, India, and the EU-5 countries were all affected by the pandemic.