Seed Treatment Market by Crop Type (Corn/Maize, Soybeans, Wheat, Rice, Canola, Cotton, Other products), by Application (Chemical Agents- Insecticides, Fungicides, other chemicals and Biological Agents), by Function (Crop Protection Chemicals and Seed Enhancement), and by Region
According to the report Global Seed Treatment market, published by Market Data Forecast, The Market was worth $5.78 billion in 2016 and estimated to be growing at a CAGR of 10.68%, to reach $9.6 billion by 2021. The global market is poised for growth owing to the growing research & development initiatives to improve the seeds potential of genetic yielding.
Seed treatment involves the application of biological, physical, and chemical agents during planting to improve the health of crops. It helps to control soil and seed-borne infections, diseases and also increases the crop yield leading to enhanced productivity.
The major driver of the market is the increasing global population which in turn led to increase in food requirements. Other factors like Rise in cost of fertilizers & pesticides, increase in farm sizes, increase in rates of crop rotation and increased awareness among farmers about the benefits of using agro products are also driving the market for seed treatment.
Increasing R&D costs related to improving crop quality is expected to increase the growth of the market. Major Restraints of the market are increased concerns over environment, Limited Duration of Protection.
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Global market for Seed treatment is segmented on the basis of crop type into Corn/Maize, Soybeans, Wheat, Rice, Canola, Cotton, Other products. Application segment includes Chemical Agents- Insecticides, Fungicides, other chemicals and Biological Agents.
Based on function the market can be divided into Crop Protection Chemicals and Seed Enhancement. Corn/maize held the largest share of over 25% of the overall market revenue.
The high market share of maize was contributed due to the increasing corn demand for producing bio-fuels. Canola is anticipated to witness the maximum growth as these seeds possess a high content of oil, which leads to an increasing demand.
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Geographically the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. North America is the largest market for seed treatment and expected to continue its dominance.
Much of the region’s growth comes from the US, which is one of the largest treated seed exporting countries in the world. The seed treatment market is projected to expand in Asia Pacific due to higher economic growth in the region.
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Syngenta, Bayer CropScience and BASF are the top three players in the global seed treatment market. Other key players include Monsanto, BioWorks Inc, Valent USA Corp, Adama Agricultural Solutions Ltd, Advanced Biological Marketing Inc, Brettyoung Limited, Chemtura Agrosolutions, Dupont and Germains Seed Technology.
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