Global Seed Treatment Market To Nearly Double By 2018
According to a new market report published by Transparency Market Research, “Seed Treatment (Insecticides, Fungicides, Other Chemical and Nonchemical Treatment) Market For Corn, Soybean, Wheat, Canola, Cotton and Others – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018,” the global seed treatment market was valued at $2.43 billion in 2011 and is expected to reach $4.45 billion by 2018, growing at a CAGR of 9.2% from 2012 to 2018.
The global demand of seed treatment has been primarily driven by the growth of the commercial seeds (conventional and bio-seeds) market. Increasing global farming and reduction in arable land has generated the need for high yield productivity, further boosting the market for seed treatment.
Increasing input cost of seeds and technological developments in agriculture are also expected to drive the demand for seed treatment. However, environmental concerns regarding the toxicity of chemicals used in insecticides, fungicides and other chemical treatments are expected to inhibit the market growth.
Insecticides dominated the seed treatment market and accounted for 52.5% of the total market revenue in 2011. Insecticides were followed by fungicides which accounted for 34.9% of the total market in 2011. Nonchemical treatment, which is generally done using biological agents, is expected to be the fastest growing treatment, at an estimated CAGR of 9.9% from 2012 to 2018.