(MoneyNewsWire.Net, October 12, 2017 ) According to the report North America Seed Treatment Market, published by Market Data Forecast, the Market was worth USD 2774 million in 2016 and estimated to be growing at a CAGR of 10.48%, to reach USD 4566 million by 2021. North America has been witnessing a sustained demand for seed treatment and is among the fastest growing global market after Asia Pacific over the coming half-a-decade. The United States constitutes the largest market for seed treatment in North America followed by Canada. Canada and United States have been the growth engines that are driving the North American market. Chemical agents dominate the North American market for seed treatment while growth in demand for non-chemical agents is likely to outpace chemical agents. North America market is geographically bifurcated into USA and Canada.
Seed treatments are widely used across the globe, and are very useful in safeguarding crops against various insects, diseases, and pests in a cost-effective way. Seed treatment involves treatment of seeds with chemicals and non-chemical methods before plantation. It is an eco-friendly way of using small amount of insecticide and fungicides. In seed treatment, only planting seeds are coated with treating agent; therefore, low amount of active ingredients is required for protection against a variety of fungal diseases and insect pests.
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The demand for crops has stimulated due to rise in the consumption of crops. Rise in the cost of seeds is one of the factor alluring the market. Increase in farm sizes along with shorter crop rotations are expected to drive the demand for seed treatment market. The left over materials after the treatment affect the environment and limited dose capacity along with limited shelf life are some of the constrains of the seed treatment market.
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The seed treatment market is segmented by crop type into Corn/Maize, Soybeans, Wheat, Rice, Canola, Cotton and Other products. Based upon application it is divided into Chemical Agents- Insecticides, Fungicides, other chemicals and Biological Agents. On the basis of function, the market can be bifurcated into Crop Protection Chemicals and Seed Enhancement.
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Syngenta, Bayer CropScience and BASF are the top three players in the global seed treatment market. Other key players include Monsanto, BioWorks Inc, Valent USA Corp, Adama Agricultural Solutions Ltd, Advanced Biological Marketing Inc, Brettyoung Limited, Chemtura Agrosolutions, Dupont and Germains Seed Technology.
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