Global Seed Treatment Market Forecast to 2022
Bharat Book Bureau Provides the Trending Market Research Report on "Global Seed Treatment Market, Forecast to 2022" under Food & Beverages category. The report provides information on industry overview, market size, latest developments, industry trends, Key Players, global presence, and their future prospects.
Seed Treatment Market is projected to grow at a CAGR of 10.82% during the forecast period.
The seed treatment market is estimated at USD 6.76 billion in 2017 and is projected to grow at a CAGR of 10.82% from 2017, to reach USD 11.31 billion by 2022. This market has been gaining prominence among farmers to improve the agricultural yield and curb excessive pesticide application. Factors such as growing demand for precision farming and increasing awareness about the environmental concerns associated with excessive pesticide use across the world are projected to drive the seed treatment market. On the other hand, factors such as the high cost of seed treatment products and the low adoption rate of technology in developing markets are expected to restrain the growth of the seed treatment market.
The oilseeds & pulses segment to grow at the highest rate during the forecast period.
On the basis of crop type, the oilseeds & pulses segment is projected to grow at the highest rate during the forecast period. The increasing cultivated areas under soybean, canola, and sunflower in North America, Asia Pacific, and Europe are projected to drive the application of seed treatment in these crops for their higher industrial value.
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The seed coating segment, by application technique, led the market in 2016.
On the basis of application technique, the seed coating segment dominated the market in 2017 due to the increased adoption of this technique across the globe. Huge demand for multifunctional seed technologies and the advent of controlled-release technology in seed treatment are the factors driving the growth of seed coating.
Asia Pacific is projected to grow at the highest rate during the forecast period.
Asia Pacific is projected to be the fastest-growing region in the seed treatment market between 2017 and 2022. The Asia Pacific region has been experiencing significant demand for seed treatment due to the need to undertake efforts to minimize the environmental concerns associated with excessive pesticide use. There has been a positive trend in the consumption of insecticide seed treatment in countries such as Australia, China, and other developing countries of the region.
The seed treatment market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia Pacific, South America, and the Rest of the World (RoW).
Breakdown of the profile of primary participants is as follows:
- By Company Type: Tier I – 65 %, Tier II – 20%, and Tier III – 15%
- By Designation: C-level Executives – 29%, Directors – 21%, and Others – 50%
- By Region: Asia Pacific – 40%, Europe – 30%, North America – 10%, South America – 15%, and Middle East & Africa – 5%
The market is dominated by key players such as Bayer (Germany), Monsanto (US), Syngenta (Switzerland), BASF (Germany), Dow AgroSciences (US), DuPont (US), FMC (US), Sumitomo Chemical (Japan), Arysta LifeScience (US), INCOTEC (Netherlands), Nufarm (Australia), UPL (India), and Germains (UK).
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