The North America maize seed treatment market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand to improve crop production and quality.
Seed treatment is the process of coating seeds with chemicals or biological organisms to protect them from plant diseases, insects, or other pests that attack seeds, seedlings, or plants. It also enables seed enhancement by enhancing post-harvest performance and conditioning seeds prior to planting. Improved agricultural materials are required to fulfill growing population's food need. Over the last few decades, there have been numerous initiatives to improve agricultural yields using novel technologies such as seed treatment. Seed treatment allows accurate product application in the field, resulting in high levels of pest and disease protection while reducing crop protection agent exposure to humans and environment.
The Covid-19 pandemic affected the demand and supply of North America maize seed treatment market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing need for high crop yields is projected to fuel the market during the forecast period.
- Increasing urbanization is estimated to hamper the market expansion.
- Lack of awareness act as major challenge that can restrict the market expansion in the coming years.
- High cost of the product is estimated to hinder the market growth.
- R&D investment and technological advancement is anticipated to create lucrative opportunities for the market players.
- UPL Ltd.
- Syngenta AG
- BASF SE
- Adama Agricultural Solutions
- Bayers Cropscience
Key players competing in the North America maize seed treatment market include UPL Ltd., Syngenta AG, BASF SE, Adama Agricultural Solutions, and Bayer’s Crop science.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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