Out of all seed treatment products, fungicides are the leading segment in South America in which Brazil is the largest market with a share about 45% of the total market in the year 2016. It is the largest producer and exporter of soybean in the South American region, exporting around 68.2 million ton of soybean in 2017 worth USD 25.7 million. Increasing attack of fungal diseases, insects, and nematodes on seedlings in the region is the major reason for the use of seed treatment chemicals on soybean.
Increasing Insect and Rust Infections in Soybean
The dry climatic conditions in Brazil and Argentina are increasing the insect and rust infection in the soybean crop during their growing period. This has created a huge demand for quality seeds which require less irrigation and are insect resistant, thereby, increasing the opportunities for the seed treatment market in the region for soybean. Also, the increasing pressure on farmers to produce more from the limited resources to fulfill the export demands is encouraging farmers to use treated seeds.
Multilateral Usage of Soybean
In South America expansion in the usage of soybean is associated with food and fuel markets and it is used for producing soybean oil for human consumption, animal feed, and producing biodiesel. Presently, around 22% of the soybean oil produced in Brazil is used for biodiesel production. Soybean oil accounted for 75% of the vegetable oil produced in Brazil and a half of this was used domestically and the other half was exported. Mostly about more than half of the South American soybean production is directed towards China.
Major Players: Adama Agricultural Solutions Ltd, Bayer CropScience AG, BASF SE, and Monsanto Company, among others.
Reasons to Purchase the Report
- Identify the dominating and the fastest growing regions in the South America soybean seed treatment market and their growth trends during the forecast period
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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