Seed treatment: Key market research findings
- North America dominates the market geographically
- Chemical seed treatment accounts for a majority of the market’s revenue
- Key vendors – BASF, Bayer, Monsanto, Nufarm, and Syngenta
Technavio’s market research analysts predict the global market for seed treatment to grow at a CAGR of almost 10% between 2016 and 2020. The declining availability of per capita arable land is spurring an upsurge in the demand for treated seeds, and consequently, seed treatment methods. The rise in urbanization, population growth, industrialization, and energy demand has augmented the conversion of cropland to other industrial and domestic uses. Sustainable development and the use of agrochemicals including fertilizers, pesticides, and seed treatment products are most likely to help enhance crop productivity and decrease land wastage. The widespread adoption of high-quality seeds like hybrid and GM seeds, to increase crop yield, has facilitated the need to treat these seeds and enhance their value. The global seed treatment market was dominated by North America with a market share of more than 32% in 2015. Innovations in treatment methods of crop seeds, particularly corn, maize, wheat, and soybean, will drive the growth of the seed treatment market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the seed treatment segments based on the product.
“The global seeds market is currently undergoing vast technological advancements. The increase in the demand for seeds and the limited availability of total arable land and frequent instances of crop losses have boosted the demand for seed treatment and hybrid seeds. The production and quality of seeds have improved owing to developments in seed technology and initiatives by the governments of different countries,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, the chemical seed treatment segment will continue its dominance over the global seed treatment market by accounting for more than 95% of the overall market’s revenue. The growth of this segment can be accredited to the easy availability and inexpensive pricing of chemically treated seeds. Chemical seed treatment methods are used extensively because of their stability and efficacy. The insecticide seed treatment segment dominated the market in 2015, accounting for around 52% of the market, and was followed by the fungicide seed treatment segment with a 32% market share of the total market.
The key vendors in the global seed treatment market include BASF, Bayer, Monsanto, Nufarm, and Syngenta. Increasing market base and product portfolio of seed treatment methodologies have provided customers with an extensive range of products to choose from. However, while varying results delivered by different brands targeted at the same solution is a major drawback, vendors can use it to their advantage by comparing active agents utilized by various brands, evaluating their performance, and conducting field trials in different locations under various conditions. This will help the vendors to develop innovative seed treatment solutions for farmers and remain competitive in the market.
A more detailed analysis is available in the Technavio report, Global Seed Treatment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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