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SAN FRANCISCO, CA--(Marketwired - Mar 24, 2016) - In 2013, the global seed treatment market was worth USD 2.98 billion. Increasing pesticides & fertilizers price cost of farm-level seed treatment and increasing cycles of crop rotation are some of the critical factors likely to drive market growth. Moreover, easier management of residue, conventional agrochemical application and higher yield of better quality agricultural products are other key drivers of the market.
Emergence of new technologies and increasing seed prices promise better agronomic performance and higher yields. Hence, an increasing number of farmers and growers have changed their preference to seed treatment to look after their valued investments. Seed treatment chemicals have lesser or no harmful impact on the consumers, environment and workers as compared to the conventional chemical agents.
Corn/maize was the largest crop type subjected to seed treatment accounting for over 30% of the market in 2013. High vulnerability of these crops towards pests/insects led to the high market share.
Canola crop type is projected to witness the highest growth rate, at an estimated CAGR of 10.3% from 2014 to 2020. Canola oil is being used extensively worldwide owing to its low content of saturated fat, zero trans-fat and being free from cholesterol.
Browse full research report with TOC on "Seed Treatment Market Analysis By Treatment Type (Insecticides, Fungicides, Chemical, Non-Chemical), By Crop (Corn, Soybean, Wheat, Canola, Cotton) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/seed-treatment-market
Insecticides seed treatment accounted for the highest market share of over 50% in 2013. The result of killing caterpillars which feed on the crop benefits in obtaining better quality and higher yields.
Non chemical treatment is expected to witness a very high growth rate, at an anticipated CAGR of 10.3% from 2014 to 2020. The growing awareness about the harmful effects of other seed treatments to surrounding environment and human health is expected to increase the demand for non-chemical treatment.
North America accounted for over 40% of the global seed treatment market in 2013. Technological advancements and increased demand for soybean and corn for producing biofuels is projected to provide the region with an upper hand over the forecast period.
Sygenta and Bayer were the two leading companies in 2013 contributing over 60% together of the total market share of global seed treatment market. Hence the industry is highly concentrated. Other major companies in the market include BASF, Monsanto, Chemtura, DuPont and Nufarm. The seed treatment industry participants are enhancing its research and development and is categorised by better-quality products and patents being registered by the manufacturers. Moreover, the growing need of these products coupled with disinfectant properties results in better growth of seeds. This is anticipated to stimulate ongoing research by several manufacturers.
Grand View Research has segmented the global seed treatment market on the basis of treatment type, crop type and region:
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