Seed Treatment Market 2021 Led by North America at 10.8% CAGR
The seed treatment market is to reach USD 9.82 billion by 2021 at a CAGR of 10.8% from 2016 to 2021 driven by factors such as affordable crop protection solutions and rising world population and resultant food requirement
[ClickPress, Fri Aug 19 2016] The global seed treatment market has grown exponentially in the last few years. The market size is projected to reach USD 9.82 Billion by 2021, at a CAGR of around 10.8% from 2016 to 2021. The growing global population and resultant food requirements are the main driving factors of this market.
The seed treatment market based on function is segmented into crop protection chemicals and seed enhancement. Crop protection chemicals accounted for a larger market share in 2015. In this segment, the insecticide type has the largest market and is also projected to grow at the highest CAGR during the forecast period. Seed treatment insecticides are used to protect crops against insect damage. The last few decades have experienced high growth in global agricultural productivity which can be attributed to the effective use of insecticides.
Complete report on Seed Treatment Market spread across 193 pages, profiling 10 companies and supported with 91 tables and 72 figures is now available at http://www.rnrmarketresearch.com/seed-treatment-market-trends-global-forecasts-2011-2016-market-report.html
The seed treatment market, on the basis of crop type, is segmented into cereals & grains, oilseeds, and others. The others segment consists of turf/forage, alfalfa, and sugarbeets. Cereals & grains accounted for the largest share of the seed treatment market in 2015. Cereals & grains are commonly consumed in the regions such as North America, Europe, and Asia-Pacific, and their market demand is also increasing. For instance, corn is an important crop for low income population which is one of the key factors driving the demand for crop. In case of wheat, it is one of the leading protein source in the human food compared to other cereals which has led to its rise in demand.
In the application technique segment, the market is segmented on the basis of seed coating, seed dressing, and seed pelleting. The seed coating segment accounted for the largest share in 2015, companies such as Bayer CropScience AG (Germany) and INCOTEC Group BV (Netherlands) are investing in R&D activities in order to introduce new and innovative seed technologies that will overcome the difficulty of germination, sowability, flowability and dust control. There is demand for multifunctional seed technologies, which is one of the driving factors behind the growth of the seed coating industry.
The seed treatment market in North America is projected to grow at the highest CAGR during the forecast period. The major drivers for the growth of the seed treatment market include the establishment of key players and various subsidies provided by the government.
Low permitted shelf-life and difficulty in the disposal of treated seeds is a restraint faced by the market players. Treated seeds need to be disposed off in one year as per specific government regulations; disposal of leftover seeds is going to be the main concern for retailers and manufacturers.
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The seed treatment market is characterized by moderate competition due to the presence of a number of large- and small-scale firms. New product launches, acquisitions, and expansions are the key strategies adopted by these players to ensure their growth in the market. The market is dominated by players such as BASF SE (Germany), Syngenta AG (Switzerland), Monsanto Company (U.S.), Bayer CropScience AG (Germany) and Platform Specialty Products Corporation (U.S.). Other major players in the market are Nufarm Limited (Australia), Sumitomo Chemical Company Limited (Japan), E.I. Du Pont De Nemours and Company (U.S.), The DOW Chemical Company (U.S.), and Incotec Group BV (Netherlands).
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