0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
Global Seed Treatment market to grow by 11% to $2,798 million by 2019
Jul. 10, 2014
The report “Seed Treatment Market by Type, Applications, Crop - Global Trends & Forecasts to 2019” shows the market is estimated to be worth $2,798.0 million in 2014 and is projected to reach $4,635.4 million by 2019, growing at a CAGR of 10.6% from 2014 to 2019. The sales of seed treatment in 2013 was $2,529.8 million.
Growth in terms of value is estimated to be higher than that in terms of volume, owing to the increasing cost of agrochemicals. Development and registration of a pesticide active ingredient is one of the biggest components of cost for seed treatment manufacturers.
North America and Latin America were the leading consumers of seed treatments, collectively accounting for over 75.2% of the market till 2013. Constant regulatory push towards restricting the use of agrochemicals and increasing consumer awareness regarding the consequences of agrochemicals residues in food have resulted in a significant increase in demand for seed treatments in other regions as well.
Asia-Pacific, which has witnessed a steady demand for these seed treatments in the recent years, is now one of the growing markets for seed treatment. Increasing modernization of agriculture in India and China is projected to drive the Asia-Pacific market in the near future.
Among all seed treatment applications, seed treatment insecticides (chemical) form the largest segment and are estimated to account for over 50.0% share of the global seed treatment market in 2013. Seed treatment fungicides (chemical) are estimated to form the second-largest segment of the global seed treatment market with 34.2% share in 2013.
In terms of competition, the market is dominated by innovators, which are essentially companies with patented products in the market. Key innovators include Bayer CropScience AG (Germany), Syngenta AG (Switzerland), BASF SE (Germany) and Nufarm Company (Australia). Also, there are companies that focus on bio-control seed treatment products, which are products with natural active ingredient. Key participants in the bio-control segment include Plant Health Care Inc. (U.S.) and Becker Underwood (U.S.).
Source: MarketsandMarkets (M&M)
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER