Seed Coating Market to Garner Significant Revenues by 2027
The seed coating market is estimated to be valued at USD 2.4 billion in 2022. It is projected to reach USD 3.6 billion by 2027, recording a CAGR of 8.4% during the forecast period.
Increasing demand for agricultural output, protection from pests and diseases, ease of handling and flowability, and farmers' quality consciousness have all contributed to the growth of the seed coating business. The increasing demand for food in the growing population has put farmers under significant pressure to boost farm yields, making seed coatings more widely used.
Seed coating protects the seeds from various factors that damage the seed, such as extreme weather conditions and harmful insects. Protection from diseases and pest protection are the key factors driving the growth of seed coatings. Seed coating also improves germination by maintaining the seed to allow them to mature when the conditions are favorable. It also enhances plantability with increased yield and reduced labor costs.
Biodegradable seed coatings are projected to account for a significant market share in the coming years. This is due to the increasing awareness about healthy food consumption by consumers and the adverse effects of non-biodegradable seed coatings on the environment. Moreover, industrial seed applications require seed coatings to be biodegradable with the rising environmental concerns. There have been increased ecological concerns by the European Chemical Agency (ECHA) regarding the restriction on the use of oxo-plastics and intentionally added microplastic particles in consumer or commercial products of all kinds, further offering lucrative opportunities for market players.
Seed coatings can reduce the damage through two methods such as systemic and non-systemic protection. Coating the seeds with protectants is one of the ways to deal with soilborne and fungicidal diseases. Systemic safety: It is absorbed by the plant, and the coatings release their active ingredients into the soil, protecting the seed. Non-systemic protection: The coating around the seed protects the young seedlings from soilborne and fungicidal diseases targeting the pathogens.
The Asia Pacific region has significant growth in the food and feed processing industries, where the cultivation of industrial crops, such as rice, wheat, soybean, and corn, is gaining considerable traction. Favorable climatic conditions, government initiatives, awareness campaigns by seed manufacturers, the growth of the agricultural input market, the demand for high-quality seeds, and the availability of farm subsidies are the key factors contributing to the development the seed coating market in Asia Pacific region. The rising demand for grains, vegetables, and oilseeds from food processing, feed, and biofuel industries has encouraged farmers to adopt the crop cultivation pattern.
The major players involved in the seed coating market include BASF SE (Germany), Solvay S.A. (Belgium), Clariant AG (Switzerland), Croda International plc (U.K.), DSM (Netherlands), Sensient Technologies (U.S.), and Germain Seed Technology Inc. (U.K.).
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