How has Seed Coating Made a Permanent Place in the Market?
The Global Seed Coating Market is set to grow and develop from USD USD 1,729 Million billion in 2021 to USD USD 3,972 Million billion in 2028 growing at a CAGR of 8.6%%. Seed coating, also known as a seed treatment, is the process by which seeds interact directly with chemicals and fertilizers to extract and protect plants to improve seed performance.
The use of the high-quality seed, easy handling, additional protection against pests and diseases, and the ability to travel by growers are major factors that will enhance the growth of the Seed Coating Market in the forecast period 2022 to 2028. It has also led to faster reproduction and a timely supply of plants at a cheaper price. The material provides high yields per hectare, low seed quality, and multi component yields, which increase the development of planting material around the world. In addition, agricultural growth in the developing economy, in turn, contributes to global market growth. Although the uncertainty regarding climate conditions and crops with low yielding rate are likely to be assumed as the prime restraints for the Seed Coating Market. The growing demand for seed coverage in North American and European regions is expected to further the growth of the seed cover market.
Based on the type of additives, the market is divided into polymers, colorants, pellets, active ingredients, minerals/pumice, and others. The polymer component held the largest share of the market in 2020 and is expected to remain dominant during the forecast period. The widespread use of polymers, due to their functional properties of enhancing the number of seed elements and improving their appearance, drives the growth of this phase. Based on the type of process, the market is divided into film coating, encrusting, and pelleting. The filmmaking segment dominated the market in 2020 and is expected to be at top. Increased consumption of grain, oilseeds, and pulses drive the growth of this phase. While on the basis of type of crop, the market is divided into grain, vegetables, flowers and ornaments, oilseeds and pulses, and more. The grain segment held the largest share in the market in 2020 and is expected to maintain its dominance. Based on the type of active ingredients, the market is divided into protectors, photoactive promoters, and others. Part of the defense industry owns the market. In addition, the increase in the incidence of pests and diseases found in the soil is one of the key factors that is expected to enhance partial growth during forecasting.
Regionally, Asia Pacific is estimated to be the largest and fastest-growing market for seed coverage at the time of forecasting. Good trade and price support systems have encouraged the import and export of grain and oilseeds in the region. The use of seed coverage is considered a safe investment, which has led to an increase in the sale of cover seed in the market of North America. Europe and Asia-Pacific are also expected to offer significant growth opportunities followed by South America and the rest of the world during the forecast period.
Key participants operating in this market include Bayer AG (Germany), BASF (Germany), Croda International Plc (Switzerland), Clariant AG (Switzerland), Sensient Technologies (US), Brett Young Seeds Ltd (US), DSM-Amulix (Netherland), Precision Laboratories (US), Germain Seed Technology Inc. (UK), Milken Chemicals (US), and CR Minerals (US).
Browse the full Report - Seed Coating Market by Additive (Polymers, Colorants, Pellets, Active ingredients), by Crop Type (Cereals & Grains, Vegetables, Flowers & Ornamentals, Oilseeds & Pulses), by Process (Film coating, Encrusting, Pelleting), by Active Ingredients (Protectants, Phytoactive promoters, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)