The seed coating market is expected to grow at a CAGR of 8.3% during the forecast period from 2019 to 2027, starting from US$ 1.6 Bn in 2018.
Increasing crop spoliation and declining seed germination rates owing to the robust change in climatic condition has triggered seed coatings acceptance around the globe. The increasing research and development activities by the various government in agriculture is further expected to support the demand for the seed coating market. The report published in The World Economic Forum by the Massachusetts Institute of Technology researched a new silk-treated coating. The new silk-treated coating is capable of germinating in the unproductive soil by supplying essential nutrients to the germinated plants. The new silk coating is treated by bacteria that naturally produce nitrogen fertilizers. Thereby, it supports market growth.
Numerous benefits derived from seed technologies such as larger seedlings, improved uniformity, quick speed of emergence, and others are expected to drive the market during the forecast period. In addition, Agricultural productivity support provided by seed coatings on marginal lands is expected to drive the market growth. Growing seed replacement rate is another factor projected to uplift the market. However, uncertainty in climatic conditions and low yield crops in under-irrigated areas are expected to hinder the market growth over the forecast period.
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In 2018 protectants holds the largest share in the seed coating market and are expected to continue their dominance during the forecast period. As per the research study, it is estimated that about 10-15% of the world's agricultural production is lost annually, out of which 8% of production is lost due to insect infestation every year is one of the key factors driving the growth of the market.
Consumers are more inclined toward using biological seed protectants as alternatives to chemical seed treatment and protection. Additionally, the role of agriculture is considered prime in developing countries such as India, where GDP and population depend on agriculture, which increases the demand for seed protection products. Thereby increasing the demand of the segment.
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North America dominated the seed coating market in 2018 and is projected to grow at a significant rate during the forecast period. As a result, the U.S. seed treatment market is estimated to be more than 3.4 billion by the year 2022. Thereby increasing the demand for the seed coating market in the North American region. Moreover, the rising development of seed technology in the region supports the dominance of the seed coating market in North America.
Europe accounted for a substantial share of the market in 2018 due to the rising demand for eco-friendly seeds and the growing agriculture industry. In addition, the growing demand for organic farming is another factor uplifting the growth of the market. Moreover, Italy and Spain are up-to-date in organic farming techniques with around 1.97 million hectares.
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This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.Segmentation
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall seed coating market better. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.