The Latin America Seed Treatment Market was worth USD 490.0 million in 2016 and estimated to be growing at a CAGR of 11.16%, to reach USD 903.3 million by 2022
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Latin America is an emerging agricultural powerhouse, growing at a rapid pace above the global growth average. Growth in this region is significantly contributed by the growth in Brazil and Argentina, which are the world’s most potent agricultural producers, expected to grow well above the regional average.
Argentina is the emerging market in the Latin American seed treatment market. Latin American market is geographically subdivided into Brazil, Argentina and Mexico.
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Seed treatment can be defined as the application of chemical ingredients or biological organisms to the seed that enables in suppressing, controlling or repelling plant pathogens, insects, or other pests that attack seeds, seedlings or plants. The term describes both products and processes.
Processes range from hot water treatment to priming. In all cases, the basis of application techniques such as seed coating and pelleting is to deliver the product to the seed at the correct dose and as uniformly as possible from seed-to-seed.
The driving factors for this market are the increasing population and food requirements, rise in cost of fertilizers & pesticides, and easier residue management. Seed treatment gained popularity due to various factors, including increasing cost of farm-level seed treatment and conventional agrochemical application, increased yield of high-quality agricultural produce, increasing rates of crop rotation and raising awareness among farmers about the benefits of using high-end agro products.
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The seed treatment market is segmented by crop type into Corn/Maize, Soybeans, Wheat, Rice, Canola, Cotton and Other products. Based upon application it is divided into Chemical Agents- Insecticides, Fungicides, other chemicals and Biological Agents.
On the basis of function, the market can be bifurcated into Crop Protection Chemicals and Seed Enhancement.
Syngenta, Bayer CropScience and BASF are the top three players in the seed treatment market. Monsanto, BioWorks Inc, Valent USA Corp, Adama agricultural solutions ltd, Advanced biological marketing inc, Brettyoung limited, Chemtura agrosolutions, Dupont, Germains seed technology are the other major players in the market.
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