Jul 05,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Seed Coating Market.
It was estimated prior to this unanticipated outbreak that the Seed Coating Market was expected to grow at a CAGR of 8.0% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Seed Coating employs the process of coating seeds directly with different materials such as fertilizers and repulsive agents such as plant growth regulators, crop protection chemicals, among a host of others. The prime purpose of a seed coating material is to ensure rapid multiplication and timely supply of crop at affordable prices.
Seed Coating are of different types, such as polymers, colorants, pellets, active ingredients, minerals/pumice, and others, that are used in various end-use industries.
Based on the additive type, the market is segmented as polymers, colorants, pellets, active ingredients, minerals/pumice, and others. The polymer segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. The extensive use of polymers, due to their functional qualities of improving the nutritive value of seeds and enhancing their appearance, is driving the growth of this segment.
Based on the process type, the market is segmented as film coating, encrusting, and pelleting. The film coating segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. The increase in the consumption of cereals, grains, oilseeds, pulses, and vegetables is driving the growth of this segment.
Based on the crop type, the market is segmented as cereals & grains, vegetables, flowers & ornamentals, oilseeds & pulses, and others. The cereals & grains segment held the largest share of the market in 2020, and is expected to maintain its dominance during the forecast period. The trend of using coated seeds is increasing on a large scale in regions that witness extensive production and cultivation, which in turn, is driving the growth of this segment.
Based on the active ingredients type, the market is segmented as rotectants, phytoactive promoters, and others. The protectants industry segment dominates the market. Further, the increasing incidence of soilborne pests and diseases is one of the key factors that is expected to underpin the growth of the segment during the forecast period.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for seed coating during the forecast period, with the USA, Canada, and Mexico, being the major countries with lucrative growth opportunities. Favorable trade and price support systems have stimulated the import and export of cereals and oilseeds in the US. The usage of seed coatings is considered a risk-hedging technique and is considered to be a safe investment, which has led to increased sales of coated seeds in the North American market. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Some of the major players in the seed coating market are-
- BASF SE
- Bayer AG
- Brett Young Seeds Ltd
- Clariant AG
- Croda International Plc
- Germain Seed Technology Inc.
- Michelman, Inc
- Precision Laboratories
- Sensient Technologies
- Smith Seed Service.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Seed Coating Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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