Seed Coating Materials Market: Envisaging the Path to Growth in Size, Share, and Forecast for 2023-2032
Seed
Coating Materials 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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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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