The wheat seed treatment market is estimated to grow at a CAGR of 7.37%, from US$2.081 billion in 2022 to US$3.423 billion in 2029 during the forecast period.
The wheat seed treatment segment is urged by the increasing food demand worldwide; hence, a higher output of wheat is needed. Moreover, seed treatments are becoming common among farmers to shield crops against diseases, pests, and environmental stresses, which in turn escalates yield potential and crop quality.
Various types of wheat seed treatment products are available, such as Kodiak, mycostop, soilgard, and others. Moreover, there are technological advancements and rising demand for the product due to the growing need for wheat among people. The diversification, along with the technological advancements, aids the growth of the wheat seed treatment market.
Wheat Seed Treatment Market Drivers:
Global wheat production was 779 tons in 2022. While the USDA predicted a 0.16% growth rate of 1.26 million tons by 2023, the volume of global wheat production was around 33 million tons in 2023.
Subsequently, the USDA's projections for the consumption of wheat to increase in the coming years because of the increased population should be considered. For example, the population is projected to increase to the 9.1 billion mark, and food consumption is anticipated to increase maximally by 50% by 2050, based on the UN report. This growing demand for wheat indicates the increasing market of wheat seed treatment products that protect the crop from different diseases thus, the market size for them will increase.
Wheat seed treatments are beneficial for seed protection and enhancement, thereby enabling a higher yield. In most cases, crop seed coating takes about three or four weeks to protect the seedling until it is well established and often improves the germination rate. The seed treatment acts as a shield, resisting the seeds from fungal pathogens and insects, such as wireworms and aphids.
For instance, chlorpyrifos emida chloropid insecticide protects wheat from termites. Moreover, the seed treatment provides nutrients to the wheat crop through seed coating, pelleting, and dressing. These phenomenal benefits will boost the wheat seed treatment market size during the forecasted period.
Wheat seed treatment techniques are constantly modernizing with the help of smart technologies. For example, a novel Non-thermal plasma technology (NTP) is an ecological seed treatment agency that reinforces seed germination and controls seed-borne pests. Nanotechnology for seed incorporation allows the manufacture of nanoscale agrochemicals, and their application is sustainable.
Moreover, reactive oxygen species (ROS) are further made available in the market, enabling enzyme activity at the starch-degrading site. The evolving technique and continuous research will aid the wheat seed treatment market size.
The rate at which climate change is occurring is alarming, and it is affecting crop production globally, which indicates that crop productivity and the amount that can be produced are mostly climate-dependent. For example, according to industry experts, Indian wheat production in the crop year 2021-22 decreased around 3 percent, partly because of heat waves in Punjab and Haryana state.
Moreover, severe droughts impacted wheat production in China, Russia, and the Kazakhstan region, thereby increasing global food insecurity. To cope with the growing demand, farmers are anticipated to adopt wheat seed treatment more frequently, thus propelling the market growth for wheat seed treatment products.
Wheat Seed Treatment Geographical Outlook
The North American region is expected to show a higher increase in the wheat seed treatment market owing to technological advancements and farmers' adoption of smart techniques to increase crop yield. Wheat is ranked third in the U.S. crop production list and planted acreage in 2022-23, according to the USDA. The USA generally ranks among the top five wheat exporters in the world, according to USDA reports.
However, Rust, Fusarium spp, and nematodes are the major causes of annual wheat production losses in the region. The government funds research and development projects to innovate new seed treatment technology to improve yields and efficiency.
Wheat Seed Treatment Market Major Players and Products:
Wheat Seed Treatment Market Key Developments:
Segmentation: