As of 2016, the global insecticidal market was valued 2.27 billion registering a CAGR of 8.5% during the forecast period 2017-2023. North America is the largest market accounting for 48% of global insecticidal market in 2016, and Asia-Pacific is anticipated to register fastest CAGR of 10.5%.

The high costs associated with agrochemicals is a major factor that is driving the growth of the insecticidal seed treatment market, globally. Owing to the increasing demand of high-quality seeds with desirable agronomic traits, the cost of seeds is increasing. Both companies and farmers are ready to spend extra for seed treatment solutions to save costly high-quality seeds.

Earlier, a growth percentage of 85% was expected by farmers as some of the seeds would rot or be destroyed by insects. With changing trends and 100% seed emergence expectation by growers even in unfavorable conditions, treatment of seed has become a necessity.

Top players in the market are constantly focusing on the development of superior quality seeds through modern breeding techniques, thereby increasing the cost of the seeds. Replanting of seeds due to poor germination or insect attack is expensive; the high cost of labor requirements is also tied into the overall cost. Insecticidal Seed treatment is an effective solution for farmers, because good quality seeds lead to better produce.

Source: https://www.businesswire.com/