Market Trends of Asia-Pacific Seed Coating Materials Industry
This section covers the major market trends shaping the APAC Seed Coating Materials Market according to our research experts:
Increasing Demand for Enhancing Seed Performance
With increasing population growth, the agriculture sector, particularly the seed sector, is under pressure. Increasing demand for food has exerted pressure on farmers, particularly in Asian countries who are progressively shifting to scientific techniques of farming. Farmers need to find a way to yield more with less. According to World Bank statistics, the arable land in this region is anticipated to show a decline of 0.8%, by 2019, over 2016. With this trend of decreasing arable land, meeting the food production demand in the near future might prove difficult. Seed diseases and volatile environment are few major challenges faced by the farmers that decrease crop yields. Coating seeds with pesticides, fertilizers, plant growth regulators, and others can help in accelerating seed performance and germination, and increases the yield per hectare, thereby, boosting the demand for seed coating materials market in the Asia Pacific, with rising awareness among farmers.
Grains and Cereals Segment Dominate the Market
Based on crop type, the Asia-Pacific seed coating material market is segmented into cereals & grains, oilseeds & pulses, other crop types. Cereals and grains segment lead the seed coating material market because the demand for cereals and grains is endlessly increasing as they are considered a vital part of the everyday meal of the rising population. They hold a major share of nearly 40% of the market. Cereals & grains include crops such as wheat, rice, corn, sorghum, oats, and barley. The demand for seed coating materials for cereals and grains is majorly driven by rising pests and disease attacks, increasing demand for feed, rising production demands for corn, and increasing awareness about sustainable agricultural practices. However, the demand for oilseed coating materials is also anticipated to witness growth during the forecast period.
