PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378107
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378107
The seed coating materials market is estimated to grow at a CAGR of 7.83% during the forecast period.
Seed coating materials promote sustainable agriculture through reduced crop losses and improved nutritional value in the final harvest. Seed dressing, film coating, and pelleting are the main types of seed coatings in the market. The technological advancements coupled with enhanced yield and nutritional crop demand contribute positively to the seed coating materials market growth.
Seed coating materials provide the benefits from the sowing of seeds till the final harvest. It increases the density of the final agricultural harvest and at the time of germination by producing healthy roots and young shoots thereby increasing the establishment percentage... According to the University of Kentucky's research study, coated seed in comparison to uncoated seed flows at a higher rate at the same drill setting Other similar studies prove the benefit of seed coating material thus it is estimated that the seed coating material market will grow exponentially during the forecast period.
The world population is growing at a bottleneck speed with a current population of 8 billion+ individuals. As per the projections of the United Nations, the world population will increase to 9.15 billion by 2050. The increasing population calls for more agricultural production to feed the growing population with more sustainable and advanced agricultural technology. The demand for cereals is estimated to reach around 3 billion tonnes by 2050 as per the UN Food and Agriculture Organization. Seed coating will prove of immense help to cope with the increasing demand by reducing crop loss and increasing the agricultural yield. Thus the growing population is predicted to positively impact the seed coating materials market size.
The key market players in seed coating material are coming up with product innovations and ways to counter climate changes in the agriculture sector. Climate change is affecting the environment at an alarming level. For instance, climate change is affecting rainfall patterns with global warming levels crossing 1.5º in the next decades as per the reports of the IPCC. Seed coating has come up with hydro-absorbers as a technology to overcome the water problems in drought-affected areas. Seed Coating helps to wet the seed roots thereby increasing the survival rate. According to the research article published in the National Library of Medicine, the hydro absorber-coated seed shows 75% higher seedling growth as compared to uncoated seed. Furthermore, the constant innovation along with climate change paves the way for new entrants in the seed coating materials market.
Technological advancements and the early adoption of farming technologies are significant market drivers for regional seed coating materials. Moreover, there is an increasing environmental concern and rapid urbanization which drives the need for seed coating materials thereby increasing the market size.