Growing Demand for High-quality Seeds to Drive the Growth of Seed Coating Market
The global seed coating market size is estimated to account for a value of USD 1.8 billion in 2019 and is projected to grow at a CAGR of 8.5% from 2019, to reach a value of USD 3.0 billion by 2025. The growing demand for high-quality seeds, increased protection from pests and diseases, easy handling, and flowability through planters are the key factors that are projected to drive the growth of the market.
Among the additive types of seed coating, such as polymers, colorants, pellets, minerals/pumice, active ingredients, and others, the polymer segment accounted for the largest market share, followed by the pellets and colorants segments. Polymers are used on a large scale due to their functional qualities of improving the nutritive value of seeds and enhancing their appearance.
The North American and European regions are witnessing an increasing demand for cereals, grains, oilseeds, and pulses used mainly in the food and feed industries. Favorable trade and price support systems have encouraged the import and export of cereals and oilseeds in the US. The usage of seed coatings is considered a risk-hedging technique and can be considered as a safe investment, which has led to increased sales of coated seeds in the North American market. Key manufacturers in the food processing industries for cereals & grains and oilseeds & pulses are focusing on catering to the consumer demands, which is shifting to the consumption of health-enriching food products in the North American region.
Key players identified in the seed coating market include BASF SE (Germany), Bayer (Germany), Clariant AG (Switzerland), Croda International PLC (UK), Sensient Technologies (US) BrettYoung Seeds Limited (Canada), Precision Laboratories LLC (US), Germain Seed Technology, Inc (US), and Centor Oceania (Australia).
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