The Global Seed Treatment Market is expected to reach USD 5.61 billion by 2020, according to a new study by Grand View Research, Inc. Seed treatment demand is expected to increase due to growing need for protection of high cost seeds in the market. Additionally, effective control over seed or soil borne diseases and infections due to seed treatments will also boost the overall market. Technological development with regards to seed treatment across the crop life cycle is expected to augment the growth of the market.
Insecticide treatment was the largest segment accounting for USD 1.57 billion of revenue in 2013. Cost effectiveness and ease of use are key factors for increasing popularity of insecticide treatment in the seed treatment market. Non chemical seed treatment is expected to grow at a CAGR of 10.3% from 2014 to 2020, due to consumer awareness regarding non chemical products benefits to environment and human health.
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Further key findings from the study suggest:
- Global seed treatment market revenue was USD 2.98 billion in 2013 and is expected to reach USD 5.61 billion by 2020, growing at a CAGR of 9.6% from 2014 to 2020.
- Corn/Maize is the largest crop type subjected to seed treatment generating revenue of USD 1.03 billion in 2013 due to high vulnerability of crop to insects/ pests.
- North America was the largest regional market for seed treatment with revenue exceeding USD 1.26 billion in 2013. Growing demand for crops such as corn and soybean for production of biofuels coupled with technological advancement in seed treatment is expected to give the region an edge in the market over the forecast period.
- Non chemical treatment is expected to witness fastest growth at an estimated CAGR of 10.3% from 2014 to 2020. The increasing awareness regarding hazards of other seed treatment forms to human health and surrounding environment is expected to drive demand for the segment.
- The global seed treatment market is highly consolidated with the top four companies accounting for over 80% of the market in 2013. Key Companies in the market include Syngenta, Monsanto, BASF, Bayer CropScience, Chemtura, Nufarm and DuPont.
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For the purpose of this study, Grand View Research has segmented the global seed treatment market on the basis of treatment type, crop type and region:
• Seed Treatment Type Outlook (Revenue, USD Million, 2012 - 2020)
• Non chemical
• Seed Treatment Crop Outlook (Revenue, USD Million, 2012 - 2020)
• Seed Treatment Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Latin America
• Asia Pacific