The seed treatment market was valued at about USD 161.4 million in 2012. It is expected to expand at around 10% CAGR by 2020. The market would achieve about USD 300 billion by 2020. Seed enhancement has emerged from the treatment of chemical seeds. It is a large segment of the market.
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The seed treatment market is analyzed in view of production, seed development and pest elimination. The crops in the market include canola, cotton, corn, sunflower, rice, wheat, soybean, oil seed crops, fruits and vegetables. Seed treatment, being the fastest growing market in the agricultural industry, has pushed various multi-national establishments to invest in research.
These establishments are working towards improving crop yield and destroying pests. They are Nufarm Ltd. (Australia), BASF SE (Germany), Syngenta AG (Switzerland), Platform Specialty Products Ltd.(U.S.) and Sumitomo Chemical Co. (Japan). The increasing costs of applications in farm level seeds conventional agrochemicals have assisted the seed treatment market in becoming popular.
This has led to the development of high quality products, rising crop rotation rates and augmented awareness about high-end agro benefit products. The yield of crops can be improved by using chemical, biological and physical technologies. Chemical technology is the most widely utilized technology and accounts for more than 50% of the share.
The seed treatment market has been segmented into four categories. These are functions, technologies, crops and regions. The functions sector consists of crop protection chemicals and seed enhancement. Technologies includes chemical, biological and physical as discussed above.
The various crops of the market have also been mentioned above. This sector was led by corn in 2014. Corn was followed by soybean and wheat. The regions sector is fragmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). The biggest share in the worldwide market was captured by North America.
India and China account for about 7 percent of the global share. These nations also steer the Asian Pacific market ahead. Boosting demand for crop quality and productivity has led to the advent of modern seed treatment products.
Information Source: Grand View Research