DEC 2017
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 global chemical seed treatment market was worth around USD 4.2 billion in 2016 and is expected to cross USD 7.1 billion by 2022 growing at the CAGR of 8.8% during the forecast period 2017-2022.
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 factor 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.
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, of which chemical agents form the most dominant application segment. 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 USUSD 7.1 billion by 2022 at a CAGR of 8.8% between 2017 and 2022. Within this application category, insecticides constitute the largest sub-category, with an estimated 2015 share of 54% of chemical seed treatment demand. However, fungicide seed treatments are slated to witness the fastest CAGR of 9.5% during 2017-2022 in reaching a projected demand of USUSD 2.63 billion by 2022.
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 2017-2022.
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 2017 and 2022.
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 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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