The Argentine market for seed treatment is projected to reach USD 410 million by 2022. Though chemical agents dominate the market in Argentina, with a share estimated at 93.6% in 2016, fastest growth in demand is expected from biological agents with a compounded annual rate of 10.4% during 2017-2022. Seed treatment in Argentina is most extensively utilized for corn/maize that accounts for an estimated 34% of the total market in 2016. However, demand for seed treatment in soybeans is forecast to post the fastest 2017-2022 CAGR of 10.5%.
The market for seed treatment gains in significance due to a number of factors, prominent among which are agronomic trends that comprise development of high quality seeds through the enhanced potential offered by genetically modified organisms (GMOs), changes in climatic conditions, increasing rates of crop rotation, flexibility in sowing approaches and greater pressure from regulatory requirements. 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. In short, it may be summed up that the foundation for the future lies in the concept of innovation in seed treatment.
Key Industry Players
Syngenta, Bayer Crop Science 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. 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 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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