The soybean seed treatment market was estimated at USD 1177.8 million in 2017 and is expected to registering a robust CAGR of 10.6% during the forecast period (2018 – 2023). Insects, pathogens, and nematodes affect the soybean crops at various stages of the cropping season. Pythium, Phytophthora, Fusarium, Phomopsis, and Rhizoctonia are the most common pathogens that reduce soybean germination and emergence. Bean leaf beetle and thrips affect the soybean crops in the early days of the crops. Root-knot nematodes also affect the soybean crop growth. Many companies, like Syngenta and DuPont, offer soybean specific seed treatment products which offer protection against these issues.
Integrated pest management (IPM) plays a major role in the identification of target areas of action for seed treatment and it also helps in identification of the perfect product for soybean seed treatment. The IPM also helps in the assessment of the risks posed by environmental as well as economic factors and hence, it helps in the identification of the perfect seed treatment solution.
Soybean is a commodity which can be used as food, feed as well as fuel. Majority of soybean is used as feed for poultry as well as dairy farming, whereas it also finds application in various food preparations. Recently, the usage of soybean oil as a biofuel has increased the demand for soybean and hence, its multilateral usage and significance has led to a considerable increase in demand.
Major Players: Adama Agricultural Solutions Ltd, Advanced Biological Marketing Inc., BASF SE, Bayer CropScience AG, Bioworks Inc., Marrone Bio-Innovations, Brettyoung Limited, and Chemtura Agrosolutions, and DuPont, among others.
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