Global Seed Coating Material Market: An Overview
The global seed coating market is growing in a robust manner. The market is witnessing high adoption , seed treatment, and brand differentiation at unprecedented levels. Hence, the market is expected to continue its robust growth throughout the 2018-2026 forecast period.
The global seed coating material market is expected to specialize in North America and Europe region. Currently, these two regions are major contributors to the global seed coating material market. Hence, the competition in the industry is likely to become fiercer and more mergers are expected.
Global Seed Coating Material Market: Key Trends
Increasing aid by various government and environmental agencies in developing farming in emerging countries is expected to drive the market during the forecast period. Seed coating material market is driven agriculture by rapid supply of crops in a cost-effective manner. This also leads to rapid multiplication of various crops.
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Additionally, seed coating material provides high yield, wide range of agro products, minimizes seeding rate among others. Due to these various benefits, seed coating market is expected to register healthy growth during the forecast period. The market is driven by adoption of genetically advanced crops, increased introduction of hybrid varieties, infusion of modern farming knowledge in traditional communities, etc.
. Apart from supporting innovative methods of farming, sustainable farming is also encouraged in several developing countries. Emerging countries are offering alternatives through sustainable farming as well as low capital investment opportunities.
Increased understanding about potential commercial potential of seeds is also driving farmers and suppliers to value coating materials.
Global Seed Coating Material Market: Regional Outlook
The global seed coating material market is divided by region into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is predicted to maintain its dominant position in the global market. The seed coating material market in North America is expected to hold the highest market share during 2018-2026, followed by Europe. Increased demand for ready-to-eat foods, soft drinks, and growing influx of healthy products is expected to drive these regional markets. Asia Pacific seed coating material market is expected to register the fastest growth during 2018-2026.
Growing disposable income, changing lifestyles coupled with growing expectations of living standard, and growing awareness of modern technologies is predicted to drive the market. The seed coating material market in South America is also expected to make significant gains, thanks to growing innovations in Brazil.
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Global Seed Coating Material Market: Competitive Dynamics
Key players in the global seed coating material market include Incotec Group, Bayet CropScience, Chromatech Incorporated, BASF and Germains Seed Technology. Major players in the marker are focused on innovation through seed bulking, embellishment for marketing, and protective treatments. The global seed coating material market recently witnessed many major acquisitions. One of these included BASF getting hold of Becker Underwood, a major market leader in seed enhancement technologies. Another example was the acquisition of Keystone Aniline Corporation by Milliken Chemicals.
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