SeedCoating Ingredients Market: Introduction
A recentstudy published by Transparency Market Research on the seed coating ingredients market includesglobal industry analysis and opportunity assessment for 2019-2029.The global seed coating ingredients market was valued at ~US$1 Bn in 2019. Themarket is projected to rise at a CAGR of ~8% to reach ~US$3 Bn by 2029.
Slow growthrate is expected in the seed coating ingredients between 2021 and 2022 dueto the outbreak of COVID-19. The world is facing economic crises as a result ofwhich, farmers are incurring huge losses. The reduced price of crops andvegetables may negatively impact farmers due to which, it is expected that seedcoating ingredients market will show stagnant growth rate over the next twoyears.
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Better Shelf Life and Storage ofTraditional and Hybrid Seeds with Seed Treatment Promotes Usage of Seed CoatingIngredients
The use ofthe seed coating ingredients protects seeds from external factors. The newproperty of dust-free coating and easy flowability due to the use of seedcoating ingredients have resulted in improved shelf life of seeds. Traditionalseeds that are being used since years are affected by various factors duringstorage and result in spoilage. In order to avoid this, seed coatingingredients that are being used in seed products are selected after a lot ofresearch so that risk of spoilage is kept at minimum. Rising awareness of thisfactor among consumers has increased due to which, the demand for seed coatingingredients is increasing rapidly.
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Need for Soil Replenishment Causedby Limited Crop Rotation Practices Increases Use of Seed Coating Ingredients
In thetimes of urbanization and changing lifestyles of consumers, farmers are moreinclined to grow crops, fruits, and vegetables that are high in demand and havehigh-value. This has reduced crop rotation practices that were traditionallyused for replenishment of nutrients in the soil. Seed coating ingredientsinclude the ones that provide micronutrients to the seed through the coat suchas the Rhizobium and others. These micronutrients help seeds to grow byproviding them required nutrients, which are available in the soil. Thus, theuse of seed coating products is for multiple purposes and this has kept thedemand for seed coating ingredients high.
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High Cost of GM Seeds EncouragesUse of Seed Treatment in Place of Traditional Hybrid Seeds
Geneticallymodified seeds are in their introductory phases and thus, their prices arehigher than other seeds that are either traditional or hybrid. The use of GMseeds is high but the customer base for these seeds is steady due to thecontroversy over genetic modification. This has resulted in consumer demand forseeds with advanced quality and good-looking seeds. Thus, seed coating productsare used for modifying traditional seeds and enhancing their properties. Thishas increased the demand for seed coating ingredients in the global market, especiallyin regions that have fluctuating climatic conditions but a huge agriculturalmarket.
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