Market Trends of North America Maize Seed Treatment Industry
This section covers the major market trends shaping the North America Maize Seed Treatment Market according to our research experts:
Increasing Seed Replacement Rate Leading to Boom in the Commercial Segment
North America has been witnessing a sustained demand for seed treatment and is among the fastest-growing global market. Commercial maize hybrids are increasingly becoming popular across the world and traditionally, North America has been cultivating commercial maize hybrids, for the last two decades. 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 projected in the region, where the metrics related to these are expected to increase at a robust pace over the forecast period. There has been increased investment in developing new products in North America. Bayer CropScience US introduced a new biological corn seed treatment, named Poncho VOTiVO 2.0 in 2018, and it will be available through seed partners, like Beck's Hybrids. In 2017, Monsanto added a new microbial seed treatment called Acceleron B-300 SAT to all its new corn hybrids.
Canada Dominated the Seed Treatment Market
In Canada, the PMRA administers the Pest Control Products Act (PCPA) which regulates all pest control products. Growing awareness among farmers over the use of seed treatment has resulted in support from the government. Various regulations and government agencies are encouraging the use of seed treatments. The Food and Drugs Act (FDA) prohibits the sale and distribution of contaminated and adulterated food. In the case of agricultural chemicals, whenever the residue exceeds the prescribed maximum residue limit (MRL). According to USDA, seeds treated with seed treatment chemicals increase the marketability of seeds and help companies to expand in new markets. Therefore, it is mandatory by USDA to treat all commercially available seeds before selling them on a commercial scale. In addition, neonic seed treatments have a harmful impact on the environment, especially bees, which led to the introduction of regulatory restrictions on neonics in North America. Canadian Food Inspection Agency (CFIA), Canadian Seed Growers Association (CSGA), Canadian Seed Institute (CSI), Registered Seed Establishments (RSE's), Authorized Seed Crop Inspection Services (ASCIS) and Licensed Seed Crop Inspectors (LSCI) are some of the major actors with regulatory authorities.
