Mergers and Acquisitions in Crop Protection and Seed: Reshaping U.S. Agriculture

By Maria McWhorter and Greg Malcom

Maria McWhorter, Kynetec

Greg Malcom, Kynetec

Mergers and acquisitions (M&A) are reshaping the crop protection and seed landscape in the U.S., marking a shift in how agricultural innovation is developed, delivered, and scaled.

Consolidation has been a defining feature of the market. But as large players consolidate, the dynamics of disruption and evolving grower needs create new opportunities for startups and specialized companies to enter the market and accelerate innovation.

As companies respond to sustainability pressures and cost volatility, the pace of M&A is accelerating

Biopesticides, per the U.S. Environmental Protection Agency’s (EPA) definition, include microbial pesticides (e.g., bacteria, fungi), biochemical pesticides (natural substances with non-toxic pest control), and plant-incorporated protectants (pesticidal traits from genetically engineered plants).

Kynetec’s FarmTrak data showed that farmers spent more than $50 million on EPA-defined biopesticides in 2024.  Seed treatments, nearly universal in corn acres, are increasingly incorporating biological and nematicide innovations. Biopesticide adoption continues to accelerate as growers seek more sustainable inputs, aided by favorable regulatory signals and evolving grower practices.

The U.S. market is led by established global companies, but the emergence of smaller biological specialists is reshaping the innovation pipeline. These markets remain highly competitive, fueling continued M&A activity in this space.

Some key transactions publicly announced by manufacturers since 2022 include:

• FMC announced its acquisition of BioPhero, a pheromone-based biologicals company, in July 2022.
• In March 2023, Corteva expanded its biologicals portfolio with the acquisitions of Stoller Group and Symborg. Later that year, Corteva also secured full ownership of the PhytoGen Seed Company joint venture, consolidating its position in the cottonseed market.
• In September 2023, DLF acquired Corteva’s alfalfa breeding program, including key germplasm and the Alforex brand.
• More recently, UPL announced its purchase of Corteva’s mancozeb fungicide business in April 2024.

Several factors are potential drivers for this continued M&A activity in the crop protection and seed industries:

• Sustainability Regulations
  Evolving environmental and sustainability standards encourage companies to accelerate biological acquisitions. The 45Z tax credit is one example of a policy incentive shaping the market.
• Economic and Market Conditions
  With input costs rising and commodity prices softening, many companies are pursuing consolidation to gain efficiency. Kynetec tracking suggests a year-over-year decline in pesticide expenditures from 2023 to 2024.
• Technological Advancements
  AI, gene editing, and precision ag tools are transforming product development and attracting investment.
• Climate and Pest Pressure
  Shifts in climate could be driving interest in resilient input solutions. For example, Kynetec data tracks increasing expenditures for almond insecticide and apple fungicide—indicating rising pressure.
• Trade Policy and Supply Chain Strategy
  Tariffs and international tensions are impacting input costs, prompting companies to strengthen domestic operations.

Manufacturers can use M&A to build more balanced portfolios that include both conventional and biological offerings. This provides stronger positioning with regulators and farmers but could also consolidate R&D pipelines, impacting competition.

Distributors could benefit from broader product access and efficiency, though they must navigate the risks of over-consolidation. Strategic partnerships, particularly with bio-based input providers, may be key to remaining competitive.

Farmers may see advantages from M&A activity, including access to more sustainable crop protection tools that deliver on performance while aligning with evolving regulatory standards. Kynetec data across crops like almonds, corn, and others indicate ongoing investment in both conventional and biological inputs. As companies integrate their offerings, more complete solutions are reaching the market — but consolidation can also reduce options, particularly in areas like seed treatments, which are frequently tied to specific seed brands. Innovations such as biological nematicides show potential, though pricing and accessibility could be challenging.

Key areas to watch include:

• Will more biostimulant companies become targets for larger crop protection firms?
• How will seed trait innovation shape future dealmaking?
• Will the EPA’s stance on biologicals evolve post-2025?  •

Maria McWhorter leads Kynetec’s Agriculture market data and insights team for North America. Greg Malcom oversees customer success for Kynetec’s major U.S. crop protection and seed clients. Kynetec is a global agricultural market research, providing U.S. crop protection and seed insights. Its FarmTrak CP, FarmTrak Seed, and other market data platforms support firms in M&A and product strategies. Visit www.kynetec.com for more information.