Seed Treatment Market Overview
The global market is poised for growth owing to the growing research & development initiatives to improve the potential of the seed of genetic yielding. Seed treatment includes 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 improves the crop yield leading to enhanced productivity. Seed treatments can be an environmentally further friendly way of using pesticides as the amounts used can be very short. Biological seed treatment agents are antagonistic fungi or bacteria used for protecting seeds.
The major driver of the market is the rising global population which in turn led to an increase in food requirements. Additional factors like Rise in cost of fertilizers & pesticides, increase in farm sizes, increase in rates of crop rotation and increased awareness with farmers about the advantages of using agro products are also driving the market for seed treatment. Increasing R&D costs related to increasing crop quality is anticipated to increase the growth of the market. Major Restraints of the market are increased concerns over environment, Limited Duration of Protection.
Seed Treatment Market Report (2018-2023)
The Global Seed Treatment Market was worth USD 7447.8 million in 2018 and estimated to be growing at a CAGR of 10.27%, to reach USD 12142.69 million by 2023.
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Seed Treatment Market Segmentation
The global market for Seed treatment is divided crop type into Corn/Maize, Soybeans, Wheat, Rice, Canola, Cotton, Other products. Application segment comprises Chemical Agents- Insecticides, Fungicides, other chemicals, and Biological Agents. Based on the function the market can be segmented 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 improved corn demand for producing biofuels. Canola is expected to witness the maximum growth as these seeds possess a high content of oil, which leads to an expanding demand.
Geographically the market is classified into North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa. North America is the biggest 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 biggest treated seed exporting countries in the world. The seed treatment market is projected to increase in the Asia Pacific due to higher economic growth in the region.
Some of the major companies operating in the current Market are
- 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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