Global insecticide seed treatment market to reach $5.04 Billion by 2022

Date:06-28-2017

According to a new report form M&M, the insecticide seed treatment market is projected to grow at a CAGR of 11.3% from 2017, to reach a projected value of USD 5.04 Billion by 2022. Increasing usage of seed treatment solutions on high-priced GM seeds, growth in the area under GM crops, increasing crop demand for biofuel and feed, and the use of insecticides as a low-cost crop protection solution are enhancing the market for insecticide seed treatment, globally. The growth in the insecticide seed treatment market is also driven by advanced farming technologies that ensure safe and reliable application of seed treatment formulas.

Cereals & oilseeds were the most dominant crop type; the market for these systems is projected to grow at the highest rate due to the rise in demand for agricultural production. Increasing demand from downstream markets in the food & beverage and feed industries has boosted the overall demand for insecticide seed treatment across the globe.

The seed dressing segment accounted for more than half of the total application technique market in 2016. Since it is a low-cost technique compared to the other techniques (such as coating and pelleting), it is economical to use on low-cost cereals and grains, such as wheat and corn, which are the major crop types dominating the insecticide seed treatment market.

The biological seed treatment market is expected to witness a higher CAGR during the forecast period, since it is an environment-friendly method for crop protection; even consumers prefer it, as it is chemical-free.

South America led the insecticide seed treatment market in 2016 and is also the fastest-growing market, owing to increased area under major seed treatment crops such as corn and soybean. The demand for seed treatment products in the Asia-Pacific region is expected to be primarily driven by countries such as China and India.

Multiple registrations of seed treatment products in different countries has been a matter of concern in the insecticide seed treatment market, since the assessment and understanding of requirements of different markets and then complying with them involves significant investment of time and money.

The market for insecticide seed treatment consists of key players in the agricultural industry, such as BASF SE (Germany), Syngenta AG (Switzerland), Nufarm Limited (Australia), Bayer Crop Science AG (Germany), and Platform Specialty Products Company (U.S.). New product launches and expansions into different regions across the globe are the most preferred strategies adopted by key players to gain a larger share of the market.