The agricultural colorants market is estimated at USD 1.63 Billion in 2017, and is projected to reach USD 2.03 Billion by 2022.
The primary factors that drive the market are multifunctionality of colorants in the agricultural industry and rise in demand from the end-use industries, due to adoption of better farming techniques. The major restraining factors include stringent and inconsistent regulations on synthetic crop protection chemicals and seed treatment.
The dyes segment is projected to grow at the higher CAGR during the forecast period. This is due to demand created by the end-use application industry such as seed treatment and crop protection chemicals products, as the usage of dyes as a colorant enhances the aesthetic appeal of the product and also used as a supplement to agrochemicals.
The turf & ornamentals segment is projected to grow at the highest CAGR among all applications during the forecast period. This is due to increasing usage of dyes and pigments in recreational areas, parks, golf courses, athletic fields, and lawns, as it saves time and the overall cost is also reduced in maintaining green turf.
The North American market for agricultural colorants is projected to grow at the highest CAGR during the forecast period. This is due to the increase in the consumption of dyes and pigments in various agricultural products such as seeds, crop protection chemicals, and fertilizers. The demand for healthy seeds to increase crop yield also drives the demand for seed coating (colorants) in the North American region.