According to the report published by Mordor Intelligence, the Global Rice Seed Treatment market has witnessed prominent growth recording a CAGR of 8.5% during the forecast period, 2018-2023. The global rice seed treatment market was valued at USD 210.62 million in 2017 and it is expected to reach a value of USD 373.97 million by 2023.
The report involves segmentation of the global rice seed treatment market on the basis of geography. To analyze the competitiveness in the industry, Porter’s five forces analysis is also included.
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On the geographical basis, global rice seed treatment market is segmented into: North America, Europe, Asia-Pacific, South America, and Africa. North-America is the largest consumer of seed treatment products. However, the demand for seed treatment in rice is likely to be the fastest growing in Asia-Pacific. In most of the Asian countries, rice is the staple crop and it is also a subsidized crop in India, China, and Vietnam. Numerous commercial seed treatment providers and seed enhancement suppliers are progressively focusing on the Asia-Pacific region because of this region. This sector is also viewed as having adequate development potential as more innovations turn out to be progressively cost-effective.
Rice Seed Treatment Market Dynamics
Development of high quality seeds through the enhanced potential offered by genetically modified organisms (GMOs), changes in climatic conditions, increasing rates of crop rotation, and flexibility in sowing approaches are the key factors driving the market. However, limited duration of protection and increasing concerns for the environment are some of the factors which are expected to constrain the market. Growing awareness and demand for organic products acts as an opportunity for the existing companies in this market to grow and expand, and other companies to enter this market.
According to Mordor Intelligence research and analysis, BASF SE, Bayer Cropscience, BioWorks Inc., DuPont, and Novozymes are the leading companies operating in the rice seed treatment market. Adama Agricultural Solutions Ltd., Syngenta International AG, and Nufarm Ltd. are the other prime companies in the global rice seed treatment market. In the global rice seed treatment market, companies are not just competing over product quality and product promotion but are also focused on strategic moves. The players in the market are investing heavily in this market in order to diversify their biological research divisions in the expanding market place. The market is highly competitive because of constant acquisitions by large companies looking to step up their market share. Vendors are taking advantage of the ambiguous environmental regulations related to the use of treatment agents and expanding their market base.