Seed treatment can be defined as the application of chemical ingredients or biological organisms to the seed that enables in suppressing, controlling or repelling plant pathogens, insects, or other pests that attack seeds, seedlings or plants. The South America seed treatment market was worth around $918 million in 2015 and is expected to cross $1.4 billion by 2020 growing at the CAGR of 9.8% during the forecast period 2015-2020.
Seeding rates have been witnessing considerable diminishing, which, in turn, has provided impetus to the practice of seed treatment for preventing plant loss. Focusing greater attention on procedures that reduce risk, such as adapting to weather conditions after sowing, which makes seedlings highly vulnerable to soil-borne diseases and insects. Some major drivers of the seed treatment are crop rotations getting shorter and greater use of multi-component products. All these are driving the market for seed treatment.
Major restraints identified in this report are concerns for the environment and regulation of seed treatment market.
The South American market for seed treatment is projected to reach US$1.4 billion by 2020. With an estimated share of 45% in 2015,the Brazil constitutes the largest and fastest market for seed treatment in South America with CAGR of 10.2%.
By application segment, chemical agents dominate the South American market for seed treatment, accounting for an estimated 2015 share of 94.1%. Despite increased efficiency and production, majority of the farmers in South America employ non-chemical methods of seed treatment instead of chemical seed treatment. However, growth in demand for non-chemical agents is likely to outpace chemical agents by posting a 2015-2020 compounded annual rate of 10.4% to emerge as the fastest segment.
Corn/maize is the leading type of crop for seed treatment applications in South America, estimated to account for 34% of the total demand in 2015. In terms of CAGR between 2015 and 2020, however, demand for seed treatment applications in soybean is expected to be the fastest among all crop types at 10.6%.
Some of the major players in the market include BASF, Bayer, Syngenta, Verdesian and others. 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.
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