Global Seed Treatment Market was valued over USD 3.00 billion in 2013. The rising research and development initiatives aimed at improving the potential of seed potential of genetic yielding is expected to drive market growth. The increasing cost of farm level seed treatment coupled with rising fertilizers and pesticides price are some of the critical factors expected to drive the market demand. The number of farmers looking at seed treatment is expected to grow rapidly over the forecast period owing to the introduction of new technologies that promise high yields and agronomic performance.
Seed treatments are used to provide protection against soil & seed-borne diseases and infections. These procedures help in increase resistance against infections from pathogens owing to which the demand is expected to remain high over the forecast period.
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The formulations and registrations of seed protection products take a lot of time resulting in a huge cost for manufacturers. Rigid government protocols about the usage of ingredients and registration of these products can act as a major restraint to the market growth over the forecast period.
Crop Type Insights
The crop segments in the market comprise Corn, Soybean, Wheat, Canola and Cotton. The largest share was held by corn on account of growing application of corn in the manufacturing of biofuels and starch derivatives.
Canola is projected to witness the market growth at CAGR of 10.3% from 2015 to 2020. Canola used in the manufacturing of biofuels and the oil extracted from canola is attracting attention as it is free from cholesterol and contains low saturated fat content.
Treatment Type Insights
Insecticides treatment dominated the seed treatment market share by accounting over 50% globally in 2013. Seed protection is used to protect the crops from bacteria, rot, fungi and aphid. Insecticide treatment is economic and includes simple execution practices owing to which its demand is expected to grow over the forecast period.
Nonchemical type expected to be a fastest growing segment with a CAGR of 10.3% from 2015 to 2020. The demand for non-toxic type is increasing because of growing adoption of organic farming techniques. Increasing awareness regarding harmful effects of seed treatments to human health and surrounding environment is expected to drive the demand for non-chemical treatment.
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North America is the largest regional segment and accounted for more than 40% of the overall market share in 2013. The growing demand for corn and soybean in the manufacturing of biofuels is expected to drive market demand. The demand in Asia Pacific is anticipated to grow rapidly at a CAGR of 10.6% from 2015 to 2020. Rising awareness among farmers coupled with growing investments in R&D is expected to drive demand for these techniques.
The key players in the seed treatment market are Bayer and Syngenta which contributed over 60% of the total global market share in 2014. The other industry players include Monsanto, DuPont, Nufarm and BASF. The industry is highly concentrated owing to the presence of a large number of small and large manufacturers. Manufacturers are now focusing on production of high-quality products coupled with an investment in new product development and getting patents registered.
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