November 2022, Market Research Future has published a Report on the Global Seed Coating Materials Market
Crops produced from coated seeds are largely beneficial for primary producers owing to important agronomic characteristics such as controlled germination, herbicide tolerance, pest & disease resistance, and insect resistance. Coated seeds using polymers and other coating materials have shown a huge acceptance among the farmers owing to growing awareness and benefits associated with the use of coated seeds. Seed coating materials are gaining popularity in the seed industry owing to various associated benefits, which is likely to surge the global seed coating materials market.
Certified seed coating materials are more reliable and contribute towards more profits. The main notion of seed coating materials is to decrease the cost & quantity of inputs required to grow the crop and modify basic agronomic properties. However, heavy expenses incurred on seed coating process, and stringent government guidelines on the use of seed coating materials are considered to be a major challenge to this market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 7.85% of seed coating materials market during the forecast period 2022-2030.
The prime method to enhance seed performance is the addition of synthetic chemicals to protect the seeds from pathogens. Seed coating materials are gaining attraction among the seed manufacturers to produce high-quality seeds. Additionally, increasing demand for agricultural products in the growing population, to meet up the heavy demands is considered to be a key reason for the market growth. The associated benefit such as insecticide resistance and disease resistance has allowed high adoption among farmers towards the use of coated seeds.
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The seed coating materials market is segmented into type and crop type.
On the basis of type, it is segmented into polymers, colorants, binders, and others. Among all, the polymers segment is dominating. The significant reason for this growth is its wide range of use owing to their functional qualities and nutritive value.
On the basis of crop type, it is segmented into fruits & vegetables, cereals & grains, pulses & oilseeds, and others. Among all, the cereals & grains segment is dominating the market.
The major players in seed coating materials market
The global seed coating materials market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the seed coating materials market. This is attributed to the increasing consumption of seed coating materials due to the increasing population and demand for new and enhanced agricultural products. Additionally, the major key players are actively involved in research & developments to develop products conforming to North American regulations for seed coating materials.
Furthermore, in Asia Pacific region, India accounts for a major market share owing to increasing demand for fruit & vegetable crops to meet up the increasing demand from consumers.