Seed Treatment Market Worth 4,566.1 Million USD by 2022Published On: December 4, 2017
The global seed treatment market will grow at a CAGR of 8.7% during the forecast period to reach USD 4,566.1 million by 2022, according to this latest publication from Meticulous Research®. The global seed treatment market is primarily driven by its low cost, growing need to increase crop yield and quality, wide range of benefits of seed treatment, reduction of arable land, and reduced risk of exceeding minimal residue level. However, stringent government regulations are restraining the growth of this market to some extent.
The global seed treatment market is mainly segmented on the basis of type, formulation, application technique, crop type, and geography. Based on type, the market is segmented into chemical seed treatment and biological seed treatment. Chemical seed treatment commanded the largest share in 2016, owing to its increasing usage in developing countries, easy availability, higher efficiency, and low cost compared to biologicals.
Based on formulation, the market is segmented into liquid form and dry form. Liquid form seed treatment commanded the largest share in 2016, owing to its ease of use, storage, and better performance in comparison with the dry form.
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On the basis of application techniques, the market is segmented into coating, dressing, and pelleting. Seed coating application technique held the largest share of the global seed treatment market in 2016, owing to its broad-spectrum usage on all crop seeds. Based on crop type, the market is segmented into cereals & grains, oilseeds, and other crops. Cereals & grains commanded the largest share in the seed treatment market in 2016, owing to the increasing demand of cereals & grains across the globe to feed growing population and their increasing use for industrial application such as animal feed, biofuel, and starch & ethanol production.
Geographically, North America accounted for the major share of the global seed treatment market in 2016, followed by Latin America and Europe region. The major share of the North American region is mainly attributed to its large arable land, increasing demand for crop yield & efficiency, and growing adoption of high price GM seeds. However, Asia Pacific region is slated to register the fastest growth during the forecast period, primarily due to its large area under agriculture cultivation and growing population in the region which increases the use of various crop protection chemicals for enhancing crop yield.
The leading companies have employed various strategies to expand their product and application offerings, global footprint, and augment their market shares. The key strategies followed by most companies in the global seed treatment market were agreements, partnerships & collaborations, mergers & acquisitions, new product launches, and expansions. The key players in the global seed treatment market are Bayer CropScience AG, BASF SE, Syngenta (Subsidiary of ChemChina), FMC corporation, Monsanto Company (Part of Bayer), E.I. du Pont de Nemours and Company, Nufarm Limited, The Dow Chemical Company, Sumitomo Chemical Co., Ltd, Arysta LifeScience Corporation (Platform Specialty Products), ADAMA Agricultural Solutions Ltd, UPL Limited, Croda International Plc, and Tagros Chemicals India Ltd.
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