(Entertainment-NewsWire.com, July 17, 2018 ) Global seed colorant market was valued USD 206.2 million in 2016 and is projected to reach USD 558.7 million by 2023, registering a double digit CAGR over the forecast period (2018 -2023). The seeds that have been treated with color play a crucial role in agriculture. Seed coating is done either for seed enhancement or seed protection.
Key Leading Major Players: Sensient, Basf, Chromatech Incorporated, Bayer, Centor, Germains Seeds Technology, Aakash Chemicals, And Matchless Dyes, Among Others.
Coating of seed with nutrients and crop protection products allow an optimal supply of nutrients as well as protection to the seeds during their growth phase. It is essential to demarcate the treated seeds, to avoid food adulteration. The agriculture industry has set requirements for ensuring the purity and quality of colorants being used. All the colorants have to be registered according to the country-specific regulations.
High Adoption of Hybrid and Genetically Modified (GM) Seeds
Hybrid and GM are high-value seeds. These seeds undergo various biological and chemical treatments that prevent losses. Colors are added to seeds for branding, identification, uniformity, and beautification. Hence, the use of seed colorants, dyes, and pigments is expected to increase in corresponding with the increase in the adoption of hybrid and GM seeds.
Grain & Cereal Holds the Largest Share
Based on the crop type, the grain & cereal segment is the largest consumer of seed colorants globally. This segment accounts for approximately 50% of the overall market. The grains and cereals segment was estimated at USD 106.04 million in 2016, this segment is expected to register a CAGR of 15.0% over the forecast period. Major crops in this segment include corn, wheat, rice, etc. These crops witness maximum usage of seed colorants.
The United States by itself accounts for 28.2% of the grains and cereals segment. Wheat and corn are the major crops contributing to this market share. In the United States, almost 98-100% of corn seeds are treated annually to protect the yield or to enhance the seeds. The mandatory regulation to color all the treated seeds is the major factor augmenting the US market. In 2013, around 1.07 million metric ton of wheat seeds were treated in the United States.
North America to Dominate the Market
North America is the top consumer of seed colorants, accounting for around 40% of the global market share. The North American seed colorant market was estimated to be USD 83.58 million in 2016 and is expected to reach a value of USD 222.2 million by 2023, at a double digit CAGR during the forecast period. In North America, the United States has the largest market share of over 60%, followed by Canada and Mexico. Canada is the fastest growing region in North America with an estimated CAGR of 17.6% during the forecast period.
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Identify the dominating and the fastest growing regions in the global seed colorant market and their growth trends during the forecast period Analyzing various perspectives of the market with the help of Porters five forces analysis To understand the regions that are expected to witness the fastest growth during the forecast period Identify the latest developments, market shares, and strategies employed by the major market players 3-month analyst support, along with the Market Estimate sheet (in Excel)
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