The Global Seed Treatment Market estimated to reach USD 10,844.8 million by 2022 owing to awareness among farmers about the benefits of using agro products
Hyderabad, India -- (SBWIRE) -- 01/10/2018 -- The Global Seed Treatment Market was worth USD 6,125.1 million in 2016 and estimated to be growing at a CAGR of 10.27%, to reach USD 10,844.8 million by 2022.
Seed treatment is a cutting-edge technology for crop protection that provides many benefits to growers and represents one of the most effective tools in precision agriculture. Seed treatments have helped to improve the yields of many different crops by providing the insurance of a uniform stand across a wide variety of soil types, cultural practices and environmental conditions. The technology allows broad-spectrum seed treatment crop protection products to protect seeds from pre- and post-emergent insects and diseases. Seed treatments provide an economical crop input that is applied directly to the seed using highly effective technology. In addition, emerging seed treatment technologies have improved in tandem with more advanced field planting equipment. The significantly lower amount of active ingredient applied compared to alternative applications makes seed treatment environmentally sustainable and further reduces potential off-target exposure to plants and animals.
Seed treatments are defined as chemical or biological substances that are applied to seeds or vegetative propagation materials to control disease organisms, insects, or other pests. Seed treatment pesticides include bactericides, fungicides, and insecticides. Most seed treatments are applied to true seeds such as corn, wheat, or soybean, which have a seed coat surrounding an embryo. However, some seed treatments can be applied to vegetative propagation materials, such as bulbs, corms, or tubers (such as potato seed pieces).
The major driver of the market is the increasing global population which in turn led to hike in food requirements. Rise in the 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. Other factors driving the market are production demands and increasing demand of GM seed. On the other hand Registration of the products and its formulations puts away a lot of time, which generates enormous costs for the manufacturers. This is expected to create a major obstruction to the growth of the global seed treatment market over the foretold period. Furthermore, rigid protocols by the government about the registration and usage of ingredients is also expected to push back the overall market demand
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.
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.
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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