BANGALORE, April 30, 2015 /PRNewswire/ --
Mordor Intelligence reveals in its new report on the Global Seed Treatment Market - Segmented By Application, Crop Type And Geography - Trends And Forecasts (2015 - 2020) that the global seed treatment market, which was worth around $4.2 billion in 2015, is expected to cross $6.4 billion by 2020 growing at the CAGR of 8.9% during the forecast period 2015-2020.
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The Global seed treatment market Report is segmented by Application Area [Chemical Agents (Insecticides, Fungicides and Other Chemicals) and Biological Agents] and Crop Type (Corn/Maize, Soybeans, Wheat, Rice, Canola, Cotton and Other Crops). Biological seed treatment agents include applications that are derived from renewable resources and contain natural active ingredients.
The greatest prospects for seed treatment lie in maximizing the plant's generic potential through bespoke solutions, which need a combination of crop protection, innovation and crop solution techniques. Of these, the first encompasses conventional techniques of foliar and seed disinfection; the second involves existing techniques for enhancing seed vitality through innovative application technologies and the third covers crop management through using innovative technology for genetics/traits.
The market for seed treatment gains in significance due to a number of factors like rise in seed cost, volatility in weather along with price and greater use of multicomponent products are driving the seed treatment market. Greater pressure from regulatory requirements is one of the major factors attributed to drive the market. Primary requirements of seed treatment include capability of offering good protection during the germination period, supporting early plant development and enhancing stress tolerance at an early stage. These can be achieved by improving the quality of seed treatment products that offer ease of application at low rates.
Browse through a detailed Table of Contents and list of tables:
http://www.mordorintelligence.com/industry-reports/global-seed-treatment-market-2015-2020-industry
The factors affecting the market are imbalance between the cost & effectiveness, concern for environment and limited shelf life. Due to awareness of health benefits, the biological seed treatments are creating an opportunity for seed treatment market. Asia-Pacific is expected to be the fastest growing market during forecast period.
The global market for seed treatment comprises chemical agents, including insecticides, fungicides and other chemicals and non-chemical agents, of which chemical agents form the most dominant application segment. Among non-chemical seed treatments, Biological seed treatment agents include applications that are derived from renewable resources and contain natural active ingredients. These seed treatment agents have no adverse impact on the environment, workers and consumers in comparison to chemical agents, as a consequence of it demand for them to witness the fastest growth during forecast period.
Worldwide, chemical agents dominate the market for seed treatments, cornering an estimated share of 93.8% in 2015, with demand for the same projected to reach US$6.4 billion by 2020 at a CAGR of 8.9% between 2015 and 2020. Within this application category, insecticides constitute the largest sub-category, with an estimated 2015 share of 50.5% of overall seed treatment demand. However, fungicide seed treatments are slated to witness the fastest CAGR of 9.5% during 2015-2020 in reaching a projected demand of US$2.2 billion by 2020. The global market for non-chemical seed treatment agents is slated to outpace chemical agents by posting a robust CAGR of 10% over the similar period to reach a projected US$420 million by 2020.
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http://www.mordorintelligence.com/industry-reports/global-seed-treatment-market-2015-2020-industry
By region, North America dominates the global seed treatment market, with a share estimated to be 48.2% in 2015, though Asia-Pacific's demand for these compounds is likely to emerge as the fastest growing with a compounded annual rate of 10.6% during 2015-2020.
Corn/maize is the most widely crop seed to be treated with these compounds, accounting for an estimated share of 31% in 2015. In terms of growth, however, the market for seed treatment for soybeans is likely to be the fastest in compounding annually at 9.5% between 2015 and 2020.
Syngenta, Bayer CropScience and BASF are the top three players in the global seed treatment market, with all of them having an extensive portfolio of agricultural products and solutions. While BioWorks Inc, Advanced Biological Marketing Inc and Valent USA Corp are comparatively smaller players, they offer the potential of becoming big game changers in the area of seed treatment in future. Each company has adopted an individual approach in terms of strategy for future growth. A few have focused on horizontal growth by expanding their presence in emerging markets that offer the greatest scope for future prospects, while yet others have been content to operate within their established boundaries and go in for vertical growth by concentrating on innovations in the area of products and solutions.
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Mordor Intelligence is a global market research and consulting firm offering in-depth market analysis reports and consulting services.
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