The seed coating market was valued at US$ 1.6 Bn in 2018 and expected to grow at a CAGR of 8.3% during the forecast period from 2019 to 2027.
“Increasing global agricultural production drives the growth of the market”
With a growing global population, demand for food products is also rising. Farmers around the world are demanding products that can increase crop yields to meet growing hunger needs. As a result, the demand for more advanced agricultural products, such as HYV seeds, increases the demand for the seed coating market. In addition, increased demand for high-quality seeds and increased pest protection support the growth of the market.
The surge in global agricultural activities and acceptance of hybrid and modifies crops procedures are some of the factors estimated to uplift the market growth during the forecast period. In addition, the rising awareness about commercial usage of seeds that increases the value of seed coating expected to fuel the growth of the market. Moreover, developing countries such as India, China and others where agriculture is the major contributor in the economy demands more coated seeds is one of the key factors that further support the growth of the seed coating market.
“Development of seed related technology in the North America region drives the growth of the market”
North America dominated the seed coating market in 2018 and is projected to grow significantly during the forecast period. The U.S. market for seed treatment is estimated to be more than 3.4 billion by 2022. Thereby, the demand for the seed coating market in the North American region is increasing. In addition, the growing development of seed technology in the region supports the dominance of the North American seed coating market.
“Europe is expected to grow at a considerable rate during the forecast period”
Europe accounted for a substantial share in the market in the year 2018 due to the rising demand for eco-friendly seeds and growing agriculture industry. Growing demand for organic farming is another factor uplifting the growth of the market. Moreover, Italy and Spain are up-to-date in organic farming techniques with around 1.97 million hectares.
In August 2019, Incotec launched a new seed treatment product.in the Malaysian market. The new treatment product is launched for treating the rice crops and aims to make the rice plant more resilient and stronger.
In October 2016, Sensient Colors LLC, launch a new coating system that enables seeds superior uniformity and color stability. The SensiCoat provides the seeds to differentiate themselves in the current competitive market.
Key Market Movements:
Globally, the seed coating market is rising at a CAGR of 8.3% for the estimated period from 2019 to 2027
North America dominated the global seed coating market in 2018 and expected to remain dominant during the forecast period due to a surge in technological advances in seed coating. In addition, the presence of major market players such as Sensient Technology, Brett Young Seeds Ltd and Milken Chemicals promotes the growth of the market.
Europe expected to grow at a considerable rate during the forecast period due to the increasing demand for biodegradable seed coating products. Moreover, the government regulations on chemical seed coating boost the biodegradable seed coating demand in Europe.
The active ingredients segment, sub-divided into protectants, phytoactive promoters and others. Protectants expected to grow at a significant rate over the forecast period due to rising concerns regarding soil-borne diseases.
The crop type segment further classified into a vegetable, flowers, pulses & oilseed, grains & cereals and others. The grains & cereals segment holds the largest share in the year 2018 and projected to continue its dominance during the forecast period due to increasing consumer awareness about the rising yield of crops by using coated seeds.
List of Companies Covered:
- Bayer AG
- Clariant AG
- Organic dyes and Pigments
- Cistronics Technovations Pvt. Ltd.
- Brett Young Seeds Ltd.
- Milken Chemicals
- Precision Laboratories
- Chromatech Incorporated
- CR Minerals
- Croda International PLC
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