PUBLISHER: The Business Research Company | PRODUCT CODE: 1620098
PUBLISHER: The Business Research Company | PRODUCT CODE: 1620098
Seed coating involves applying a protective layer to the surface of seeds. This process aims to enhance seed performance, improve germination rates, shield seeds from pests and diseases, and provide essential nutrients or growth-promoting substances directly to the seed.
In the seed coating market, the main types of additives include polymers, colorants, pellets, minerals or pumice, active ingredients, and other materials. Polymers are used to form a thin, protective layer around seeds. The coating processes include film coating, encrusting, and pelleting, with active ingredients such as protectants and phytoactive promoters. Seed coatings are used for various types of crops, including cereals and grains, oilseeds and pulses, vegetables, flowers and ornamentals, and others.
The seed coating market research report is one of a series of new reports from The Business Research Company that provides seed coating market statistics, including the seed coating industry global market size, regional shares, competitors with seed coating market share, detailed seed coating market segments, market trends, and opportunities, and any further data you may need to thrive in the seed coating industry. These seed coating market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The seed coating market size has grown strongly in recent years. It will grow from $2.15 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth during the historic period can be attributed to improved seed protection, better grain quality, increased agricultural productivity, heightened awareness of the benefits of seed coating, and a growing preference among farmers for seed-enhancing products.
The seed coating market size is expected to see strong growth in the next few years. It will grow to $3.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth during the forecast period is driven by factors such as increasing crop yields, rising demand for high-value commercial crops, a growing need for food production, higher demand for quality seeds, and a surge in global food demand. Key trends for this period include technological advancements, improvements in high-quality seeds, the adoption of precision agriculture, and the use of bio-based seed coating materials.
The rise in crop yields is projected to drive the growth of the seed coating market. This increase is attributed to advancements in agricultural technology, enhanced crop varieties, improved soil management, more efficient irrigation systems, and effective pest and disease control. Seed coating plays a crucial role in boosting crop yields by providing seeds with protective treatments, nutrients, and growth-promoting agents, which enhance germination, plant health, and resistance to pests and diseases. As a result, crops become stronger and more productive. For example, in February 2024, the Department for Environment Food & Rural Affairs, a UK-based government agency, reported that total cereal production, including wheat, barley, oats, and minor cereals, reached approximately 24.3 million tons in 2022, an 8% increase from 2021. This rise in crop yields supports the expansion of the seed coating market.
Key players in the seed coating market are focusing on developing innovative products such as biodegradable seed coatings to promote sustainability, reduce environmental impact, and address the growing demand for eco-friendly agricultural practices. Biodegradable seed coatings are designed to naturally decompose in the soil after fulfilling their role, minimizing environmental impact and avoiding the buildup of synthetic residues. For instance, in January 2024, Lucent Bio, a Canadian sustainable agriculture company, introduced NutriGrow, a biodegradable seed coating that enhances sustainability. NutriGrow is non-toxic, plant-based, and designed to improve germination and root growth while avoiding the environmental harm associated with traditional coatings that may contain microplastics. It is formulated to optimize plant nutrition, providing crops with a balanced mix of essential nutrients, which is crucial for maximizing growth and yield while minimizing waste and environmental impact.
In January 2023, GROWMARK, Inc., a US-based agricultural cooperative, acquired Allied Seed, LLC for an undisclosed amount. This acquisition enhances GROWMARK's supply capabilities and helps meet the growing demand for cover crops. By expanding its product portfolio in the pasture seed market, GROWMARK aims to better serve its nearly 400,000 customers across North America. Allied Seed, LLC, a US-based company, specializes in producing and distributing a diverse range of seeds, including forage seeds, turfgrass seeds, and cover crops.
Major companies operating in the seed coating market are BASF SE, Sumitomo Chemical Co. Ltd., Corteva Inc., Solvay S.A., Syngenta Group, Clariant AG, Milliken & Company, Croda International plc, Rotam CropSciences Ltd., Sensient Technologies Corporation, Michelman Inc., Arysta Lifescience Co. Ltd., BrettYoung, Incotec Inc., Smith Seed Services, Germains Seed Technology Inc., Precision Laboratories LLC, Organic Dyes and Pigments, Globachem NV, Chromatech Incorporated, Centor Oceania, Dynaplak Group, Cistronics Innovations Pvt. Ltd., CR Minerals Company LLC, Universal Coating Systems LLC
North America was the largest region in the seed coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the seed coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the seed coating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The seed coating market consists of revenues earned by entities by providing services such as color coating, polymer coating, inoculant coating, and seed treatment application. The market value includes the value of related goods sold by the service provider or included within the service offering. The seed coating market also includes sales of seed treaters, seed coating machines, drum coaters, and pan coaters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Seed Coating Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on seed coating market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for seed coating ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The seed coating market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.