The global seed treatment market is expected to garner $7.8 billion by 2021, growing at a CAGR of 8.3% during the period 2015 - 2021. The insecticide segment held a dominant share in this market in 2015 and is expected to maintain its leading position during forecast period. The cereals & grains crop segment is projected to grow at the highest CAGR of 8.3% during the forecast period.
The global seed treatment market is expected to grow at a substantial pace due to its cost effectiveness and efficiency over traditional pesticides making it at better crop protection solution. The cost associated with agrochemicals application for seed treatment is low as only seeds surface needs to be covered with agrochemicals as compared to spraying or a soil application. Factors that fuel the market growth are increasing prices of genetically modified (GM) crops, rapidly growing population, rising food requirement and need for crop protection with emergence of new pest and diseases.