Mexico Seed Treatment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 158.20 Million |
| Market Size (2029) | USD 209.5 Million |
| CAGR (2024 - 2029) | 5.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mexico Seed Treatment Market Analysis
The Mexico Seed Treatment Market size is estimated at USD 158.20 million in 2024, and is expected to reach USD 209.5 million by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).
- Mexico witnessed an expansion in agricultural land, reaching 97,138 thousand hectares in 2020, compared to 96,946 thousand hectares in 2017. This growth in agricultural land necessitated the utilization of seed treatment products. As farmers dedicated more land to agricultural activities, they increasingly recognized the importance of protecting their crops from various threats, including pests, diseases, and environmental stressors. Additionally, the changing climatic conditions in Mexico have increased the risk of pests in agriculture. In response, growers are adopting seed treatments as a proactive measure to protect their crops and optimize yields.
Mexico Seed Treatment Market Trends
Increase in Cost of High-quality Seeds
The cost of seeds is expected to increase, owing to the increasing demand for high-quality seeds with desirable agronomic traits. Both companies and farmers are ready to spend on seed treatment solutions to save high-quality seeds. According to the USDA estimates, 2017, corn seeds cost about 300% since 1995, while the yield grew by only 35%. Farmers are trying to cut down operating costs by selecting seeds that do not require multiple doses of chemicals. The initial protection of these engineered seeds is ensured by using seed treatment products. In the past seven years, the seed's portion of total operating costs for corn increased from about 28% to 32%. Even though there was a drop in operating costs of corn between 2015-2016, the seed cost share of corn increased by 2%. The operating costs of soybean seeds decreased from 45% in 2010 to 37% in 2016. This decrease was due to the prevention of seeds with a seed treatment product.
Increasing Usage of Treated Seeds
Mexico is the second-largest market of seed treatment in North America, and it is one of the fastest-growing countries in the region. The demand for seed treatment in Mexico is growing, owing to a large number of factors, such as increasing rates of crop rotation, flexibility in sowing approaches, and changing climatic conditions. Syngenta, Bayer CropScience, and BASF are some of the significant seed treatment companies in Mexico, and they are majorly focused on developing new products.
Mexico Seed Treatment Industry Overview
By focusing on product innovations, market players aim to develop advanced seed treatment solutions that provide comprehensive protection against a wide range of threats and safeguard the seeds during the critical early stages of growth, promoting strong and healthy crop establishment.
Companies are making strategic acquisitions to expand and strengthen their presence in the market. Bayer completed the acquisition of Monsanto, which was the biggest acquisition made by the company. The Monsanto acquisition helped the company become a global leader in agriculture with a broad portfolio of seed treatment products for farmers.
Mexico Seed Treatment Market Leaders
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BASF SE
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Bayer CropScience
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Syngenta AG
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Adama
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Nufarm
*Disclaimer: Major Players sorted in no particular order
Mexico Seed Treatment Market News
In January 2023, Bayer formed a new partnership with Oerth Bio to enhance crop protection technology and create more eco-friendly crop protection solutions.
Mexico Seed Treatment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Insecticides
5.1.2 Fungicides
5.1.3 Nematicides
5.2 Crop Type
5.2.1 Grains and Cereals
5.2.2 Oilseeds and Pulses
5.2.3 Fruits and Vegetables
5.2.4 Commercial Crops
5.2.5 Turf and Ornamentals
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Syngenta International AG
6.3.2 Bayer CropScience AG
6.3.3 BASF SE
6.3.4 Corteva Agriscience
6.3.5 Adama Agricultural Solutions Ltd
6.3.6 Germains Seed Technology
6.3.7 UPL Limited
6.3.8 Incotec Group BV
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Seed Treatment Industry Segmentation
Seed treatment is the process of treating seeds with chemicals and non-chemical methods before plantation. The seed treatment market is witnessing tremendous growth owing to factors, such as high prices of the seeds, increasing demand for food grains, and rising rates of crop rotation. More farmers use to sow seeds treated with both fungicide and insecticide products, and trends show the share of complex fungo-insecticide products is growing.
| Product Type | |
| Insecticides | |
| Fungicides | |
| Nematicides |
| Crop Type | |
| Grains and Cereals | |
| Oilseeds and Pulses | |
| Fruits and Vegetables | |
| Commercial Crops | |
| Turf and Ornamentals |
Mexico Seed Treatment Market Research FAQs
How big is the Mexico Seed Treatment Market?
The Mexico Seed Treatment Market size is expected to reach USD 158.20 million in 2024 and grow at a CAGR of 5.70% to reach USD 209.5 million by 2029.
What is the current Mexico Seed Treatment Market size?
In 2024, the Mexico Seed Treatment Market size is expected to reach USD 158.20 million.
Who are the key players in Mexico Seed Treatment Market?
BASF SE, Bayer CropScience, Syngenta AG, Adama and Nufarm are the major companies operating in the Mexico Seed Treatment Market.
What years does this Mexico Seed Treatment Market cover, and what was the market size in 2023?
In 2023, the Mexico Seed Treatment Market size was estimated at USD 149.18 million. The report covers the Mexico Seed Treatment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Seed Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Seed Treatment Industry Report
Statistics for the 2024 Mexico Seed Treatment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Seed Treatment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
