Seed Treatments are an excellent example of how the seed industry and crop protection industry are innovating for the future of modern agriculture. The Italy seed treatment market was worth around USD 35.5 million in 2016 and is expected to cross USD 56 million by 2022 growing at the CAGR of 8% 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.
Europe is a matured markets for seed treatment, with a 19.6% share in 2016, resulting from gradually increasing per capita consumption. By application segment, chemical agents are the major segment in the Italy market for seed treatment, accounting for an estimated 2016 share of 94.3%. However, growth in demand for non-chemical agents is likely to outpace chemical agents by posting a 2017-2022 compounded annual rate of 9% to emerge as the fastest segment.
Corn/maize is the leading type of crop for seed treatment applications in Italy, estimated to account for 31.9% of the total demand in 2016. In terms of CAGR between 2017 and 2022, however, demand for seed treatment applications in canola is expected to be the fastest among all crop types at 8.4%. Canola is the leading ingredient used for bio-diesel production in Italy.
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?