Seed Treatment Fungicides Global Market Report 2024

The seed treatment fungicides market size has grown strongly in recent years. It will grow from $1.93 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period can be credited to factors such as the rise in the global population, improved crop yield and quality, the expansion of commercial agriculture, governmental support and regulations, and an increased adoption of high-value crops.

The seed treatment fungicides market size is expected to see strong growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The projected growth in the forecast period can be linked to the impact of climate change on disease patterns, the advancement of bio-based fungicides, a rising demand for improved crop resilience, management of invasive pests and diseases, and global concerns regarding food security. Key trends anticipated in the forecast period encompass advancements in formulations, seed coating technologies, customized solutions for diverse crops, the integration of digital agriculture and precision farming, as well as collaborations aimed at product innovation.

The anticipated surge in demand for agricultural production is poised to drive the growth of the seed treatment fungicide market in the near future. Agricultural production encompasses various operations such as crop cultivation, plowing, harvesting, and animal rearing, contributing to market-ready products. The growing demand for increased agricultural production is fueling the expansion of the seed treatment fungicides market, given their role in mitigating seedling rot, seed rot, and seedling diseases caused by a diverse range of fungi. For example, data from the California Department of Food and Agriculture in September 2022 revealed a 7.0% increase, totaling $22.5 billion, in California's agricultural product exports in 2021 compared to the previous year, underscoring the influence of rising demand for agricultural production on the seed treatment fungicide market.

The upswing in organic farming practices is expected to propel the growth of the seed treatment fungicide market. Organic farming emphasizes sustainable and environmentally friendly approaches to crop cultivation and livestock raising, often incorporating integrated pest management (IPM), including preventive measures such as seed treatment. This shift toward eco-friendly practices is anticipated to drive the demand for seed treatment fungicides. In May 2023, the Department for Environment, Food, and Rural Affairs reported a 0.4% increase in the UK's organically farmed land to 509 thousand hectares in 2022, including fully converted land and land under conversion. This growth was driven by a 0.8% increase in entirely organic land, highlighting the influence of the rise in organic farming on the seed treatment fungicide market.

Technological advancements emerge as a prominent trend gaining traction in the seed treatment fungicide market. Key companies in the seed treatment fungicides sector are actively engaged in developing innovative technologies to enhance their market position. For instance, in October 2021, UPL Ltd., an India-based manufacturer of seed treatment fungicides and agrochemicals, introduced the technologically advanced seed treatment option, 3-Way Electron Mix. This smart solution aims to provide cost-effective seed protection, minimize incorrect germination, and offer combined benefits of insecticides and fungicides. The ELECTRON 3-WM technology protects seeds and seedlings against pests and diseases during early crop establishment, ensuring comprehensive seed safeguarding for higher yields.

Prominent companies in the seed treatment fungicide market are concentrating on product development and launches, such as fungicide seed treatment, to sustain their market positions. Fungicide seed treatment involves protecting seeds from fungal diseases during germination and early seedling growth. In October 2023, Corteva, Inc., a US-based agricultural chemical and seed company, commercially launched the Straxan fungicide seed treatment in Canada. This new addition to Corteva Agriscience’s cereal protection portfolio offers an easy-to-use formulation designed to combat prevalent seed and soil-borne cereal diseases, providing advanced protection against early-season diseases such as Fusarium species, Rhizoctonia, true loose smut, and more.

In May 2021, ADAMA Ltd., an Israel-based manufacturer of seed treatment fungicides and agricultural solutions, acquired a 51% stake in Jiangsu Huifeng Bio Agriculture Co. Ltd. for approximately $192 million. Through this acquisition, ADAMA aims to fortify its commercial presence in China's crop protection business. Jiangsu Huifeng Bio Agriculture Co. Ltd. is a China-based manufacturer specializing in seed treatment fungicides and other agricultural solutions.

Major companies operating in the seed treatment fungicides market report are Glencore PLC, Cargill Inc., BASF SE, Dow Inc., Bayer AG, Sumitomo Corporation, Corteva Inc., Monsanto Company, DuPont de Nemours Inc., UPL Ltd., FMC Corporation, Nufarm Ltd., Croda International PLC, Novozymes A/S, DLF Seeds Group, Kureha Corporation, Bioceres Crop Solutions Corp, Indofil Industries Limited, Rallis India Limited, Rotam Global AgroSciences Limited, Verdesian Life Sciences LLC, Helena Agri-Enterprises LLC, Certis Europe B.V., Loveland Products Inc., Germains Seed Technology Inc., Syngenta AG, Bioworks Inc., Vizag Chemicals Private Limited, SWAL Corporation Ltd., Krishi Rasayan Group.

North America was the largest region in the seed treatment fungicides market in 2023. The regions covered in the seed treatment fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the seed treatment fungicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of seed treatment fungicides include synthetic chemical and biological options. Synthetic chemical fungicides are employed to manage fungal diseases in crops. These chemical compounds may or may not have a natural counterpart but are synthesized through non-natural processes. Seed treatment involves the application of chemical fungicides and insecticides to seeds, serving to control infections in both seeds and saplings, with insecticides targeting insect pests. Some seed treatment solutions are formulated as combinations of fungicides and insecticides. These fungicides are available in liquid and powder forms, suitable for treating various crops such as cereals, grains, oilseeds, pulses, and others. Seed treatment fungicides are applied through methods such as coating, dressing, and pelleting.

The seed treatment fungicide market research report is one of a series of new reports that provides seed treatment fungicide market statistics, including the seed treatment fungicide industry's global market size, regional shares, competitors with a seed treatment fungicide market share, detailed seed treatment fungicide market segments, market trends, and opportunities, and any further data you may need to thrive in the seed treatment fungicide industry. This seed treatment fungicide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The seed treatment fungicides market consists of sales of methyl benzimidazole carbamate (MBC), phenylpyrroles, phenyl amides, strobilurin, triazoles, and benzimidazoles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.