PUNE, India, February 26, 2018 /PRNewswire/ --
The report "Seed Treatment Market by Type, Application Technique (Coating, Dressing, Pelleting), Function (Seed Protection (Insecticides, Fungicides) and Seed Enhancement), Crop Type (Cereals & Grains, Oilseeds & Pulses), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 10.82% from an estimated value of USD 6.76 Billion in 2017 to reach USD 11.31 Billion by 2022.
Browse 101 tables and 46 figures spread through 203 pages and in-depth TOC on "Seed Treatment Market -Global Forecast to 2022"
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The market is driven by factors such as the rise in demand for low-cost crop protection solution, precise targeted application of pesticides, and the impact of these pesticides in achieving sustainable agriculture.
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Cereals & grains segment is estimated to be the most important crop type for the Seed Treatment Market
Pesticide application on cereals & grains was seen to be the highest in the US and Asia Pacific countries. Insecticides such as imidacloprid and thiamethoxam have been widely used on corn and wheat cultivation in countries such as the US, China, and India. An increase in demand has been witnessed for seed treatment from developing regions as well due to the increasing awareness about sustainable agricultural practices. Hence, the cereals & grains segment dominated the Seed Treatment Market in 2016.
Biological seed treatment, by type, is projected to be the fastest-growing segment over the next five years
The adoption of chemicals in seed treatment is decreasing owing to the awareness of the toxicological effects associated with them and the environmental degradation caused by excessive use of these pesticides. A majority of these chemicals have been banned in a few countries across Europe, which affects the global market to a significant extent. Due to the adoption of sustainable agricultural practices in developing and developed countries, biological seed treatment has been gaining importance amongst the farmers, which can be seen from the increasing research & development activities by the key players in this market.
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Significant competition to capitalize on the market potential among international manufacturers in the Asia Pacific and South American regions
The rise in export quality requirements for agricultural products and increasing adoption of integrated pesticide management agricultural practices in countries such as China, India, Brazil, and Argentina are expected to drive the demand for seed treatment among the farmers in the Asia Pacific and South American regions during the forecast period. This would increase the inflow of various international manufacturers to set up their business units and distribution networks, thereby leading to strong market competition.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Bayer (Germany), Monsanto (US), Syngenta (Switzerland), and BASF (Germany), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include 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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