SAN FRANCISCO, May 22, 2018 /PRNewswire/ —
The global seed treatment market size is expected to reach USD 5.61 billion by 2020, according to a new report by Grand View Research, Inc., registering a 9.6% CAGR during the forecast period. A thriving agriculture industry is one of the key drivers of market growth. Increasing use of seed treatment in agriculture, coupled with rising demand for organic processing of food products, is expected to boost market demand over the coming years. Growing population has resulted in soaring food demand, thus raising the adoption rate of seed treatment.
Soaring demand for food owing to increasing population globally has prompted the need for more agricultural yield, which is expected to augment the use of seed treatment over the forecast period. In the past few years, consumption of grain was more than its production, resulting in a deficit. This has increased pressure on farmers to produce more yield to cater to rising demand.
The North American market for seed treatment is facilitated by increasing agriculture practices in Canada and Mexico. Developing technologies used in agriculture in these countries are expected to provide avenues for market growth.
Denmark is known for its agriculture and food sector and is known to produce food about three times its population. Furthermore, over 60.0% of the country’s land area is under agriculture and is estimated at 2.7 million hectares. This is expected to boost the seed treatment market.
Asia Pacific is expected to witness steady growth on account of increasing agriculture practices in countries such as India and China. With accelerated economic growth in Asia, there is an expanding middle class that has more income to spend on food.
Population growth and scarcity of agricultural land in these countries is expected to create a significant demand for agricultural products. Increasing adoption of novel technologies in agriculture to increase yield and improve quality is expected to augment market demand in the region over the forecast period.
Browse full research report with TOC on “Seed Treatment Market Size, Share & Trends Analysis Report By Type (Insecticides, Fungicides, Nonchemical), By Crop Type (Maize, Soybean, Wheat, Canola, Cotton), By Region, And Segment Forecasts, 2012 – 2020“ at: https://www.grandviewresearch.com/industry-analysis/seed-treatment-market
Further Key Findings From the Report Suggest:
- In terms of revenue, the insecticides segment is anticipated to value around USD 3 billion by 2020. The nonchemical segment, on the other hand, is projected to expand at a CAGR of 10.3% over the forecast period
- By type of crop, corn/maize dominated the global seed treatment market with a share of 34.5% in 2013
- The North America seed treatment market is anticipated to reach USD 2.32 billion by 2020, accounting for the largest share throughout the forecast period
- Latin America is projected to witness a remarkable CAGR of 10.3% over the forecast period, owing to rapid developments in the agriculture sector
- Some of the key companies in the market are Syngenta, Bayer, Monsanto, BASF, CropScience, Chemtura, DuPont, Nufarm, Becker Underwood, Plant Health Care, Wolf Trax Incorporation, Valent U.S.A. Corporation, Sumitomo Chemical Company Limited, Precision Laboratories Incorporation, and Novozymes A/S.
Browse related reports by Grand View Research:
- Ammonium Sulfate Market – The global ammonium sulfate market size was valued at USD 4.6 billion in 2014. Efforts taken by governments across the globe to boost agricultural output coupled with inherent benefits of ammonium sulfate fertilizers is expected to benefit the overall market growth over the forecast period.
- Crop Protection Chemicals Market – The global crop protection chemicals market size was estimated at USD 60.37 billion in 2016, growing at a CAGR of 6.8% over the forecast period.
- Biofertilizers Market – The global biofertilizers market size was estimated at USD 787.8 million in 2016. The increasing usage of microbes biofertilizers proves potential for sustainable farming method and food safety.
- Nitric Acid Market – The global nitric acid market size was valued at USD 12.51 billion in 2016. It is expected to witness a CAGR of 1.8% from 2015 to 2022. Increasing use of the product in the chemical and fertilizer industries is likely to stoke market growth.
Grand View Research has segmented the global seed treatment market on the basis of type, crop type, and region:
- Seed Treatment Type Outlook (Revenue, USD Million, 2012 – 2020)
- Other chemical treatment
- Seed Treatment Crop Type Outlook (Revenue, USD Million, 2012 – 2020)
- Seed Treatment Regional Outlook (Revenue, USD Million, 2012 – 2020)
- North America
- Asia Pacific
- Latin America
- South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.
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