PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378055
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378055
The wheat seed treatment market is estimated to grow at a CAGR of 7.49% during the forecast period.
The Wheat seed Treatment market is anticipated to grow at a steady pace during the forecast period. Wheat seed treatment products are generally used to protect the seed from fungi, and insects thus promoting high yield. There are various types of wheat seed treatment products 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.
The global production of wheat worldwide in 2022 was 779. 33 million tons which is projected to increase by 1.26 million tons or 0.16% in 2023 as per the estimates of USDA. Moreover, USDA estimates the consumption of wheat to rise in the coming years due to the growing population which needs to be addressed by the higher wheat yields. For instance, the world population is expected to reach 9.1 billion mark and food consumption will increase by 50% by 2050 as per the UN report. This growing demand for wheat shows the need for wheat seed treatment products to protect the crop from various diseases thereby increasing its market size.
Wheat seed treatments are beneficial for seed protection, and seed enhancement thereby enabling a higher yield. Wheat seed treatments generally protect the crop at the time of sowing for three to four weeks till the seedling is established thus improving the germination rate. The seed treatment protects the crop from fungal pathogens and insects such as wireworms and aphids. For instance, the use of chlorpyrifos emiddachloropid insecticide protects the wheat from termites. Moreover, the seed treatment provides nutrients to the wheat crop through seed coating, pelleting, and dressing. These phenomenal benefits are expected to 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 instance, an emerging Non-thermal plasma (NTP) is an eco-friendly seed treatment technology that enhances seed germination and controls seed-borne pathogens. Nanotechnology for seed treatment helps in the sustainable development of nanoscale agrochemicals. Moreover, reactive oxygen species (ROS) is now available in the market which enables enzyme activity at the starch-degrading site. The evolving technique and continuous research are expected to aid the wheat seed treatment market size.
Climate change is happening at an alarming level impacting crop production worldwide as crop productivity is highly dependent on climatic conditions. For instance, the wheat production of India declined by around 3% in the crop year 2021-22 due to the heat wave in Punjab and Haryana state as per the industry experts. Moreover, severe droughts impacted wheat production in China, Russia, and Kazakhstan region thereby increasing global food insecurity. The adoption of wheat seed treatment is anticipated to be higher among farmers to cope with the growing demand and thus propelling the market growth for wheat seed treatment products.
The North American region is expected to show a higher increase in the wheat seed treatment market owing to technological advancements and the adoption of smart techniques by farmers to increase crop yield. Wheat is ranked third in the U.S. crop production list and planted acreage in 2022-23 as per the USDA. The USA generally ranks among the top five wheat exporters in the world as per the reports of USDA. Moreover, Rust, Fusarium spp, and nematode are the major concern for annual losses of wheat production in the region. The government is funding research and development projects for the innovation of new seed treatment technology to improve yields and efficiency.