Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The "Global Chemical Seed Treatment Market - Forecasts From 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global chemical seed treatment market is experiencing substantial growth, with a market valuation of USD 3.957 billion in 2018 and a projected value of USD 5.868 billion by 2023. This impressive growth is attributed to a Compound Annual Growth Rate (CAGR) of 8.20% during the forecast period.
Key Highlights:
- Rising Food Demand: The world is witnessing a surge in food demand due to the growing population, making advancements in crop science and innovative crop protection solutions crucial.
- Smart Crop Techniques: The industry is embracing smart crop techniques to meet the increasing food demand, improve crop yield, and address the challenges of changing climatic conditions and rising seed costs.
- Investment in Research and Development: Governments and companies alike are investing heavily in research and development to develop genetically modified seeds, aiming to meet the surging food demand more efficiently.
The global chemical seed treatment market is driven by several factors, including the use of multi-component products, regulatory requirements, increasing farm sizes, and a growing focus on cost-effective techniques. The market's growth is also facilitated by the development of innovative crop protection methods and solutions.
However, environmental concerns related to the use of chemical seeds are expected to pose challenges to the market's growth.
Market Segmentation:
- Crop Type: The market is segmented into cereals and grains (including corn, wheat, and rice), oilseeds (including cotton, sunflower, and canola), and other crop types (including sugar beets and turf/forage grasses).
- Application: The market segments are divided into fungicides, insecticides, and other chemicals. Insecticides currently hold the largest market share, while the fungicide seed treatment market is expected to witness the fastest growth.
- Geography: The global chemical seed treatment market is geographically segmented into North America, South America, Europe, the Middle East and Africa, and Asia-Pacific. North America holds the largest market share, while the Asia-Pacific region is anticipated to experience rapid growth.
This comprehensive market research report offers valuable insights into the dynamic chemical seed treatment market, helping businesses understand the driving forces, challenges, and opportunities within the industry.
Competitive Landscape:
- Adama Agricultural Solutions Limited
- BASF SE
- Bayer Group
- Incotec Group
- Monsanto Company
- Novozymes
- Nufarm Limited
- Plant Health Care
- Sumitomo
- Syngenta
For more information about this report visit https://www.researchandmarkets.com/r/6q5s7p
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