Global Seed Colorant Market Growth, Trends, and Forecast Report 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 24, 2019--
The “Global Seed Colorant Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The global seed colorant market (henceforth, referred to as the market studied) was valued at USD 271.3 million in 2018, and it is expected to register a CAGR of 15.4% during the forecast period (2019-2024).
In 2018, North America was the largest geographical segment of the market studied and accounted for a share of around 40.7% of the overall market.
Scope of the Report
The global seed colorant market operates in a business to business format. Owing to the increasing support from the government and rising adoption rate of hybrid and GM seeds, the market studied is expanding exponentially. Even the companies are adopting seed colorants as a part of their branding strategy, in order to achieve higher sales and profit. However, the cost of the colorant is very high, as it comprises huge R&D and manufacturing costs. Thus, the high cost of seeds and increase in prices of raw materials act as restraints to the growth of the market studied.
Key Market Trends
Growing Demand for Seed Treatment
With the support of the government, awareness among farmers about the use of seed treatment increased. For instance, the European seed sector has developed a quality scheme, which is known as European Seed Treatment Assurance (ESTA) standard, for almost 70% of the maize cultivated, 90% of oilseed rape, and 100% of sugar beet, in order to ensure the safe treatment of the seed against pests and diseases. Additionally, in India, about 80% of the seeds sown in 2016 were untreated.
Therefore, the Government of India has launched a country-wide campaign, in which pesticide industry associations, like Agricultural Technology Management Agency (ATMA), Central Integrated Pest Management Centers (CIPMC), Krishi Vigyan Kendra (KVK), NGOs, etc., participated in the campaign, to ensure 100% seed treatment for all major crops. Several companies, like Monsanto and Syngenta, have started laying emphasis on making the investment in R&D activities for innovation of new seed treatment technology, which in turn, acts as one of the significant driver of the market studied. With the regions across the world adopting seed treatment, extensively coupled with rapid development in seed coating technologies, the global seed colorant market is likely to witness rapid growth in the coming years.
North America Dominates the Global Seed Colorant Market
North America has the largest market for seed colorants, with the United States witnessing the highest share, followed by Canada and Mexico. Owing to mandatory government regulations for coloring treated seeds and technological advancements, the US market share is the highest in the market studied. Pest Management Regulatory Agency’s regulation for compulsory use of seed colorants on treated seeds and the rising demand of high-value seeds are the major factors for the growth of the seed colorant market in Canada. The growth of the seed treatment market and the introduction of innovative products are driving the seed colorant market across the region.
The global seed colorant market is highly consolidated, with the top three companies occupying more than 45% share of the overall market. Incotec, Clariant, Keystone Aniline Corporation, BASF, and Aakash Chemicals are identified as the most active companies in the global seed colorant market. The most-widely adopted strategies of the major players include acquisition, product launch /development, agreement, and R&D expansion, in order to extend their market share.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Time of Application
5.1.2 Pre and Postharvest
5.3 Crop Type
5.3.1 Grains and Cereals
5.3.2 Oil Seeds
5.3.3 Fruits and Vegetables
5.3.4 Turf and Ornamentals
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Akash Chemicals Inc.
6.3.2 BASF SE
6.3.3 Bayer Cropscience
6.3.4 Croda International PLC
6.3.6 Precision Laboratories
6.3.7 Chromatech Incorporated
6.3.8 Germains Seeds Technology
6.3.9 Centro Group
6.3.10 Keystone Aniline Corporation
6.3.11 Sensient Technologies
6.3.13 Kannar Earth Science Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xuiwjf
View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005221/en/
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Related Topics:Dyes and Pigments,Seeds
INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/24/2019 10:31 AM/DISC: 05/24/2019 10:31 AM