Agricultural Colorants Industry Value, Size, Share, Industry Demand, Growth Opportunity, Forecast To 2024
Market Scenario
The global Agricultural Colorants Market estimated to be USD 750 million in 2019 and is expected to register a CAGR of 4.3% during the forecast period of 2019 to 2024
Agricultural colorants are used to impart color to seeds and fertilizers, turf and ornamental plants, lakes and ponds, and dried flowers, among others. They also find application in leak detection and water tracing. Agricultural colorants offer monitoring consistency, help in distinguishing between different products, and uniformity of product.
Based on product type, the global Agricultural Colorants Industry Value has been bifurcated into dyes and pigments. The pigments segment is expected to be the larger market during the review period owing to the long-term color stability, ease of manufacturing, and easy dispersibility of pigments. However, the dyes segment is projected to register the higher CAGR during the forecast period as these products help in differentiation and identification. The dyes segment has been further divided based on pH nature and solubility.
Based on application, the global agricultural colorants market has been segregated into fertilizers, seed treatment, turf and ornamental plants, ponds and lakes, and crop protection products. The turf and ornamental plants segment is projected to be the largest market during the assessment period owing to the widespread use of agricultural colorants in lawns, athletic fields, and recreational parks.
Competitive Analysis
Some of the prominent players operating in the global agricultural colorants market are Sensient Technologies Corporation (US), Bayer AG (Germany), Clariant (Switzerland), Aakash Chemicals (US), Keystone Inc. (US), Germains Seed Technology (UK), Chromatech Incorporated (US), BASF SE (Germany), Lanxess (Germany), Organic Dyes and Pigments (US), Sun Chemical (US), and Milliken Chemical (US).
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Market Segmentation
The global agricultural colorants market has been segmented based on product type, application, and region.
Based on product type, the global agricultural colorants market has been segregated into dyes and pigments.
By application, the global agricultural colorants market has been categorized as seed treatment, fertilizers, ponds and lakes, turf and ornamental plants, crop protection products, ice melting and de-icing, and others.
Regional Analysis
The global agricultural colorants market has been studied for five regions, namely, Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The North American market is projected to be the largest during the review period owing to the use of advanced farming techniques. The market in Asia-Pacific is projected to register the highest CAGR during the forecast period due to the presence of several agrarian economies in the region.
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