The seed treatment fungicides market is projected to grow at a CAGR of 9.24% from 2017, to reach a projected value of USD 1.88 Billion by 2022. Increasing usage of seed treatment solutions on expensive GM seeds, growth in the area under GM crops, increasing crop demand for biofuel and feed, and the use of fungicides as a low-cost crop protection solution are enhancing the market for seed treatment fungicides, globally.
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The report "Seed Treatment Fungicides Market by Type (Chemical (Benzimidazoles, Dithiocarbamates), Biological), Crop Type (Cereals & Grains, Oilseeds & Pulses), Application Technique (Coating, Dressing, Pelleting), Form, and Region - Global Forecast to 2022", The seed treatment fungicides market was valued at USD 1.13 Billion in 2016. It is projected to grow at a CAGR of 9.24% from 2017, to reach 1.88 Billion by 2022.
Browse 75 market data tables and 66 figures spread through 153 pages and in-depth TOC on "Seed Treatment Fungicides Market by Type (Chemical (Benzimidazoles, Dithiocarbamates), Biological), Crop Type (Cereals & Grains, Oilseeds & Pulses), Application Technique (Coating, Dressing, Pelleting), Form, and Region - Global Forecast to 2022"
Rise in need for food security for the growing population and increase in crop loss owing to soilborne & seedborne diseases, along with a change in farming practices, have been of importance for the growth of the global seed treatment fungicides market.
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Seed treatment fungicides are used for high-quality crop yield for the increasing population and its growing food demand. Hence, seed treatment fungicides will be viewed as a business opportunity in the next five years.
As a result, many multinational players have entered into the production of various types of seed treatment fungicides, which can be used for crops.
Significant growth expected in the dithiocarbamate segment
Seed treatment fungicides assists in shielding seeds from soilborne & seedborne fungi that cause rotting, damping off, seedling blight, or a combination of the same. When seeds germinate under favorable soil conditions, there is reduced risk of infestation of seeds and seedlings by soilborne pathogens.
The ease in application mode has made these seed treatment fungicides more convenient to use for farmers. Dithiocarbamate is projected to be the one of fastest-growing type in the next five years because of its effective protection against seedling blights and control of various fungi that cause damping off in the seedling.
The cereals & grains segment projected to be the fastest-growing market during the forecast period
The cereals & grains segment dominated the seed treatment fungicides market in 2016; it is projected to grow at the highest CAGR of from 2017 to 2022. The demand for treated grain seed is increasing due to rise in demand from downstream markets in food & beverages.
With a global increase in the consumption of biofuels and growth in demand for feed in the China, this segment is likely to witness a growth by 2022.
Increase in need for food security, high investment in R&D, and change in farming practices keys to success in the South American region
South America is one of the largest contributors to the global seed treatment fungicides due to the increase in use of seed treatment fungicides through advanced agricultural techniques and rise in need for food security in the South American countries. Brazil and Argentina constituted the largest country-level markets in the South American region in 2016.
High market penetration by the leading seed treatment fungicides companies, for enhancing the agricultural growth and productivity, and the decrease in arable land are the main factors influencing the growth of the seed treatment fungicides market in South America.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF SE (Germany), The Dow Chemical Company (U.S.), Sumitomo Chemical Co., Ltd (Japan), and Bayer CropScience AG (Germany); these are well-established and financially stable players that have been operating in the industry for several years.
Other players include Syngenta AG (Switzerland), Monsanto Company (U.S.), and Nufarm Ltd. (Australia).
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