Market Trends of Maize Seed Treatment Industry
This section covers the major market trends shaping the Maize Seed Treatment Market according to our research experts:
Increasing Seed Replacement Rate Leading to Boom in the Commercial Segment
Commercial maize hybrids are increasingly becoming popular across the world. Traditionally, North America, Europe, and South America have been cultivating commercial maize hybrids, since last two decades. However, increasing seed replacement rates and rising adoption of hybrids led to a remarkable growth of developing markets, such as Asia-Pacific and Africa. In 2018, seed replacement rates in Asia-Pacific stood at close to 80%. Increased adoption of hybrid varieties and penetration of advanced hybrids, including genetically modified varieties, have resulted in a booming market for commercial applications of maize seed treatment products. These products are being sold at a B2B level to seed companies. An increase in the number of seed companies selling maize hybrids has also supported the market for commercial applications of maize seed treatment products. The next frontier of hybridization and increased seed replacement rates is Africa, where the metrics related to these are expected to increase at a robust pace over the forecast period.
North America Leads the Global Market
Maize is grown over approximately 35 million hectares in North America. It is the most important grain crop in the region, with extensive application as grain, animal feed, and forage. Increased adoption of genetically modified and hybrid seeds in the region makes the geographical segment the largest among all the regions across the world. The market is driven by commercial applications, where companies are launching products that satisfy the crop protection needs of the farmer, while keeping sustainability of the soil and environment in mind. The region is expected to remain the largest geographical segment in the maize seed treatment market over the forecast period.
