Seed Colourant Market Trends, Growth, and Forecast Report

The global seed colorants market was valued at USD 398.01 million in 2020 and is registering a CAGR of 13.87% over the forecast period 2020-2026.

SEATTLE, WASHINGTON, UNITED STATES, October 11, 2020 /EINPresswire.com/ -- High adoption of hybrid and genetically modified seeds, growing demand for seed treatment, supportive regulatory structure, brand differentiation are the key factors driving the seed colorant market. Hybrid and GM are high-value seeds. These seeds undergo various biological and chemical treatments that prevent losses. Colours are added to seeds for branding, identification, uniformity, and beatification. Hence, the use of seed colorants, dyes, and pigments is expected to increase in line with the adoption of hybrid and GM seeds.

The adoption of GM and hybrid varieties increases the usage of inputs on seeds. The seeds are treated to enhance the yield; however, the cost of the seed will increase alongside. The cost factor will, in turn, result in reduced profitability. The cost of the colorant is very high, as it comes with huge R&D and manufacturing costs. Companies’ demand for unique colours for their brand is adding to these costs. Increase in prices of raw materials prices is the major reason restraining the growth of the colorants market.

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Segmentation by Type

Seed colorants can be broadly segmented based on formulation into powders and liquids. Due to the ease of application and greater time of retention, the liquid formulations for seed colorants occupy the largest market share of 97% in 2019. The numerous advantages associated with the use of liquid colorants, such as ensuring every seed is adequately coated, proper distribution of colour along with being a cost effective solution, are certain factors driving the market for liquid colorants.

Powdered colorants are being used to achieve optimal coverage and excellent flowability of treated seeds. However, powdered seed colorants are not extensively used to colour the treated seed. North America dominates the market for powdered seed colorants. South America is the second fastest growing market in the powdered segment and is estimated to grow at a CAGR of 13.94% over 2020-2026

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North America and Europe are the top consumers of seed colorants, with these two regions accounting for 67% of the market share, in which North America alone accounts for 40% of the share in 2020. By region, the Asia-Pacific market is the fastest growing, globally, with a CAGR of 17.82% during 2020-2026. In North America, the United States has the largest market with a share of 77%, followed by Canada with 19% and Mexico with 3% in 2020. Canada is the fastest growing region in North America with a CAGR of 17.61% during 2020-2026.

Spain, France and Germany are few of the major countries contributing to the Europe market share. The mandatory regulations of coloring all seeds that are treated with chemicals is the factor responsible for the major market share of the European market. Spain is the largest market, occupying 20% of the European seed colorants market. Spain is considered to be the slowest growing market for seed colorants owing to market saturation and the slow growth of genetically modified seeds market. With a contribution of 40% to the global market, North America dominates the seed colorants market, followed by Europe and South America with 27% and 23% market shares respectively. Asia-Pacific occupies a share of 8%, while Africa has a share of 2% in the global market in 2020.

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Analysis of the players’ share indicates the highly-concentrated nature of the global seed colorant market. Bayer dominates the seed colorants market with 19% market share, followed by Chromatech Inc. (18.5%). The greater market share of these players can be attributed to their extensive product portfolio and their geographic presence, enabling them to reach a wider audience. Aakash Chemicals occupies the third position with 9.5% share. Centor Group, with 8% share, holds the probability of increasing its market share further, owing to its geographic presence and pigment development as per the consumer requirements. Incotec and Clariant, the two most-active players of the seed colorants market, occupy shares of 7.5% and 6.2%, respectively. Owing to their constant investment in R&D to develop seed coating technologies, their market share is expected to increase in the coming years. Germains Seed Technology, with its commitment toward constant seed treatment development, occupies a share of 6.4%

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Bhanu Reddy
Global Monitor
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