The global seed treatment market reached to over $2250.0 million by the end of year 2010, and is expected to reach $3430.3 million by 2016, growing at a CAGR of 13.5% from 2011 to 2016.
(PRWEB) November 08, 2012
According to a new market research report, "Seed Treatment Market Trends and Global Forecasts (2011-2016)", published by MarketsandMarkets (http://www.marketsandmarkets.com), global seed treatment market is the fastest growing segment of crop protection market. This growth is fueled by government encouragement for adoption of seed treatment as crop protection practice. This growth is particularly higher in geographies such as Latin America and Asia-Pacific due to increased acceptance of GM seed and farmers awareness regarding maximum residue level.
Browse more than 143 market data tables/figures spread through more than 370 pages and in-depth TOC on “Seed Treatment Market Trends and Global Forecasts (2011-2016)”.
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With increasing concerns regarding crop protection, productivity and yields, expenses on crop protection are significantly increasing. Crop protection expense is the second highest expense after fertilizer in farming expenses. Thus expenses can be reduced by treating only the seeds as compared to the whole farm area with agrochemicals. Hence seed treatments is most cost effective way of protecting seeds and further crops from biotic and abiotic stresses.
Seed treatment chemicals, which includes seed treatment insecticides, fungicides and other seed treatment chemicals are biggest market segments as on 2010, owing to their wide-spread use in bulk quantities due to ease in availability, production, and application Chemical seed treatments currently control over 98% of global seed treatment market. Bio-control seed treatments are a smaller market segment, but expected to grow at a faster pace than any other segment, due to government encouragement to reduce agrochemicals usage.
The global seed treatment market reached to over $2250.0 million by the end of year 2010, and is expected to reach $3430.3 million by 2016, growing at a CAGR of 13.5% from 2011 to 2016. The North American market is expected to hold 22% of the global market share by 2016, at an estimated CAGR of 16.4% due to higher acceptance of GM seeds for soybean and maize/corn. Asia-Pacific is another fastest growing segment due to the constant push by government bodies for adoption of seed treatments with “100% seed treatment campaign”. The market share of Asia-Pacific is expected to boost from $157.5 million in 2010 to $248.2 million by 2016, at an estimated CAGR of 14.4% from 2011 to 2016.
Some of the major drivers of the industry identified in this report are cost effectiveness of seed treatments, economic and social benefits, and increasing demand of GM seeds while major restraint is low shelf life of treated seeds.
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