Seed Treatments are an excellent example of how the seed industry and crop protection industry are innovating for the future of modern agriculture. The market was worth around USD 341.8 million in 2016 and is expected to cross USD 547.54 million by 2022 growing at the CAGR of 8.2% during the forecast period 2017-2022.
The regulatory uncertainty of the product approvals and doubts regarding their efficacy and environmental concerns arising from the usage of chemical products has hampered the growth of these products across the world. The organic methods of farming and GM crops are seen as threat to the seed treatment market. Also with growing demand for biological treatment are seen as threat to chemical seed treatment.
Demand for hybrid seeds is also on the rise, more in Europe, since they lend themselves better to seed treatment methods. This creates greater opportunity for either including or offering seed treatment as an effective option for controlling pathogens and pests.
The France market for seed treatment is projected to reach USD 590.5 million by 2022. With an estimated share of 40% in 2015, the France constitutes the largest market for seed treatment in Europe. During the forecast period fastest CAGR of 8.8% is anticipated to be recorded by demand for seed treatment in France.
Within this application category, insecticides constitute the largest sub-category, with an estimated 2016 share of 53% of chemical seed treatment demand. However, fungicide seed treatments are slated to witness the fastest CAGR of 9% during 2017-2022 in reaching a projected demand of USD 208 million by 2022.
Corn/maize is the leading type of crop for chemical seed treatment applications in France, estimated to account for 31.5% of the total demand in 2015. In terms of CAGR between 2017 and 2022, however, demand for seed treatment applications in soybean is expected to be the fastest among all crop types at 8.9%.
Key Industry Players
Some of the key companies in the market are BASF, DuPont, Monsanto, Syngenta, Bayer and Others. The most preferred strategies of the key players in recent years is to achieve competitive advantage and to expand the business units in various geographical areas by joint ventures, expansion and acquisition. The key payers are eventually focusing on agreements and partnerships to balance the supply and demand of the market. Introducing new effective products is another strategy to stay ahead of the competition.
In this report we offer,
Why should you buy this report?
Looking to Customize Report?