New York, US , Aug. 16, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Seed Coating Materials Market Information by Type, Crop Type, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 3.9 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 7.85% during the review timeframe.
Market Synopsis
The procedure of seed coating, also referred to as seed treatment or seed dressing, involves coating seeds physically with nutrients, repellents, and crop protection chemicals to improve the performance of the seed. The seed is shielded from germs by this process. The handling and delivery of protectants, symbiotic microbes, soil adjuvants, germination boosters, growth regulators, and colors are improved by artificial seed coating. Using these coatings on seeds, chemical insecticides, and fertilizers may be used less frequently in agriculture. Seed coating leads to accelerated growth and a more timely and cost-effective crop supply. As a result of the material's high yield per hectare, low seeding rate, and multicomponent product, the seed coating industry has expanded globally. Additionally, expanding agriculture in developing nations helps the market as a whole.
The emergence of sustainable farming methods has increased consumer demand for these goods. It is anticipated that the emergence of new flower species and decorative variants would further increase consumer demand. Seed coating promotes a crop's quick multiplication and timely, cost-effective supply. It is highly important for seeds to remain resistant to unfavorable environmental conditions to generate good quality yield in a shorter time since the physiological, chemical, and biological features of plants' seeds affect their entire performance. The need for food is rising quickly in response to the growing world population, and crop growers worldwide are using various crop protection methods and crop growth-promoting practices to meet this demand.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 3.9 Billion |
| CAGR | 7.85 % (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Crop Type, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Develop natural & organic coating materials |
| Coated seeds offer increased performance |
Market Competitive Landscape:
The notable companies in the seed coating material market are:
- BASF SE (Germany)
- Chromatech Inc. (US)
- Keystone Aniline Corporation (US)
- Precision Laboratories Inc. (US)
- Brett-Young Seeds Ltd. (Canada)
- Element Solutions Inc (US)
- Incotec Group BV (Netherlands)
- Clariant International AG (Switzerland)
- Bayer (Germany)
- Germains Seed Technology, Inc. (US)
- Croda International Plc. (UK)
Market U.S.P. Covered:
Market Drivers:
Because they perform better than uncoated seeds, coated seeds are becoming increasingly popular in the world's agriculture sector. Rising demand for high-value commercial crops is expected to fuel market expansion in the ensuing years, along with an increase in the number of market participants in the seed treatment sector. These factors will likely cause the seed coating materials market to expand significantly over the forecast period. The industry is anticipated to experience significant expansion due to the rapidly expanding agricultural and related industries. The market need is also increased by using hybrid and genetically modified crops and cutting-edge farming methods. The farming industry offers profitable opportunities for market expansion despite low investment costs.
Increased attention to sustainable agriculture by governments worldwide has a huge positive impact on growth. The market is growing due to growing awareness of using seeds for commercial purposes, which raises the value of seed coating materials. Increasing government and environmental agency activities to promote agriculture in developing nations are anticipated to fuel market growth over the forecast period. The adoption of genetically modified crops, the expanding popularity of hybrid types, the introduction of modern farming techniques into traditional communities, and other factors drive the market. In addition to promoting new farming techniques, sustainable farming is promoted in many developing nations.
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Market Restraints:
The global market will be driven by the lack of knowledge among farmers in underdeveloped countries about the advantages of coated seeds and the growing commercialization and acceptability of genetically modified seeds. The progress is further constrained by the challenge of covering the seed uniformly and material waste incurred during handling and shipping.
COVID 19 Analysis
The COVID-19 pandemic disturbed the seed coating material sector, which was still in its infancy, just like it would have on any other industry. Lockdowns caused R&D to stop, supply chains to break down, and delayed the rollout of newly created commercial items to market. As a result, the sector encountered numerous difficulties during the pandemic.
Market Segmentation
By Type
The polymers segment will head market growth in the forecast period.
By Crop Type
The cereals & Grains segment will head market growth in the forecast period.
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Regional Insights
Due to widespread knowledge of the advantages of seed coating in key crop-producing economies like the United States and Canada, North America is anticipated to hold the top spot in terms of market share in the global market for seed coating materials over the course of the forecast period. The presence of major market participants in North America is anticipated to further drive the seed coating materials market growth in the area. In terms of revenue, North America and Europe command the highest market shares. There is a rising demand for cereals, pulses, oilseeds, and pulses, mostly used in North America and Europe's food and feed industry.
The US import and export cereals and oilseeds have benefited from advantageous price support regimes. Coated seeds have seen a growth in sales and income in the North American and European markets because using seed coverings is a risk-hedging strategy and a secure investment. Due to the rising use of crop protection goods and technologies in nations like China and India, where agriculture is widely practiced, the market for seed coating materials in the Asia-Pacific region is predicted to grow quicker in the coming years. The market for seed coating materials in Asia is anticipated to grow at a high rate due to rising concerns about food security brought on by the ongoing population rise.
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