NEW YORK, Aug. 11, 2016 /PRNewswire/ --
"Seed treatment market projected to grow at a CAGR of 10.8%"
The seed treatment market is projected to reach USD 9.82 billion by 2021 at a CAGR of 10.8% from 2016 to 2021. The market is driven by factors such as affordable crop protection solutions, rising world population and resultant food requirement, nutrition deficiencies created by crop rotation practices which have led to the demand for seed treatment, and increasing process of GM crops.
"Seed coating technique led the seed treatment market with the largest share in 2015"
In regard with the market, the seed coating industry is projected to grow in the next coming years. Companies, such as Bayer CropScience AG (Germany) and INCOTEC Group BV (Netherlands) are investing in R&D activities in order to introduce new and innovative seed technologies that will overcome the difficulty of germination, sowability, flowability and dust control. There is a demand for multifunctional seed technologies which is one of the driving factors behind the growth of the seed coating industry. Moreover, the companies involved in this industry are focusing on global expansion and establishing new plants to increase their production capacity, and increasing their product lines as well.
"North America to lead the market in terms of growth rate between 2016 and 2021"
The North American region is projected to have the largest market in the seed treatment industry in the next five years; owing to the substantial benefits of seed treatments, there is a huge demand for seed treatment products in this region. Ready provision of substantial extra subsidies by the U.S. government, as well as the presence of key players such as Monsanto Company (U.S.), DuPont (U.S.), Syngenta AG (Switzerland), and The Dow Chemical Company (U.S.) has led to the growth of the seed treatment market in this region. The market is also projected to grow at the highest CAGR during the forecast period.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as below.
By Company Type: Tier 1 – 40%, Tier 2 – 37%, and Tier 3 – 23%
By Designation: Director level – 28%, C Level – 43%, and Others – 29%
By Region: North America – 33%, Europe – 26%, Asia-Pacific – 30%, Latin America- 11%
BASF SE (Germany), Syngenta AG (Switzerland), Monsanto Company (U.S.), Bayer CropScience AG (Germany) and Platform Specialty Products Corporation (U.S.) collectively accounted for the largest portion of the seed treatment market in 2015. Other players such as Nufarm Limited (Australia), Sumitomo Chemical Company Limited (Japan), E.I. Du Pont De Nemours and Company (U.S.), The Dow Chemical Company (U.S.), and Incotec Group BV (Netherlands) also have a strong presence in this market.
Reasons to buy this report:
- To get a comprehensive overview of the global seed treatment market
- To gain a wide-range of information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the seed treatment market is flourishing
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