San Francisco, 7 May 2019: 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.
To request a sample copy or view summary of this report:
https://www.grandviewresearch.com/industry-analysis/seed-treatment-market
Canola crop type is projected to witness the highest growth rate, at an estimated CAGR of 10.3% from 2014 to 2020. Canola oil is being used extensively worldwide owing to its low content of saturated fat, zero trans-fat and being free from cholesterol.
Insecticides seed treatment accounted for the highest market share of over 50% in 2013. The result of killing caterpillars which feed on the crop benefits in obtaining better quality and higher yields.
Non chemical treatment is expected to witness a very high growth rate, at an anticipated CAGR of 10.3% from 2014 to 2020. The growing awareness about the harmful effects of other seed treatments to surrounding environment and human health is expected to increase the demand for non-chemical treatment.
North America accounted for over 40% of the global seed treatment market in 2013. Technological advancements and increased demand for soybean and corn for producing biofuels is projected to provide the region with an upper hand over the forecast period.
Sygenta and Bayer were the two leading companies in 2013 contributing over 60% together of the total market share of global seed treatment market. Hence the industry is highly concentrated. Other major companies in the market include BASF, Monsanto, Chemtura, DuPont and Nufarm. The seed treatment industry participants are enhancing its research and development and is categorised by better-quality products and patents being registered by the manufacturers. Moreover, the growing need of these products coupled with disinfectant properties results in better growth of seeds. This is anticipated to stimulate ongoing research by several manufacturers.
Access press release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-seed-treatment-market
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.
For More Information: www.grandviewresearch.com
No comments:
Post a Comment