According to Fact.MR, a market research and competitive intelligence provider- the global seed coating materials market expanded at a CAGR of 5.1% from 2017 to 2021.
Expanding at a CAGR of 6.5%, the global seed coating materials market is projected to increase from a valuation of US$ 1.74 billion in 2021 to US$ 3.41 billion by the end of 2032.
Polymer seed coating materials are widely employed because of their functional capabilities of boosting the nutritional value of seeds and improving their appearance, resulting in increased crop output. As a result, demand for polymers across the world is projected to increase at a high CAGR of 8.3% from 2022 to 2032.
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Seed coating compounds are primarily used to extend the shelf life of seeds while also increasing their appearance. Market demand for these items is being bolstered by the implementation of sustainable agricultural practices. The introduction of new kinds of flowers and attractive variants is likely to boost overall demand. Increasing demand for natural food items is also a driving force behind the global need for seed coating materials.
Higher Demand for Seed Coating Materials
North America accounts for 29.8% share of the global seed coating materials market. Cereals, grains, oilseeds, and pulses, which are primarily used in the food and primary feed material industries, are in high demand in the North America seed coating materials market. Increasing adoption of grass seed coating materials is driving the market growth.
Increased demand for seed coating materials among food products in North America is predicted to be supported by higher consumption of packaged foods and beverages with health advantages.
Seed coating companies are focused on merger and acquisition operations as well as new product development and product launches to drive global recognition.
For instance :
- In 2021, The Bayer Seed coating business was acquired by Solvay, a seed and grain solutions firm. This agreement will allow Solvay to expand its product portfolio and research & development capabilities for seed-based products.
Key Segments Covered in Seed Coating Materials Industry Research
· Seed Coating Materials Market by Type :
- Other Types
· Seed Coating Materials Market by Crop :
- Cereals & Grains
- Fruits & Vegetables
- Flowers & Ornamentals
- Oilseeds & Pulses
- Other Crops
· Seed Coating Materials Market by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa