PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378059
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378059
The cotton seed treatment market is expected to grow at a CAGR of 4.6% during the forecast period.
Key growth factors for the cotton seed treatment market are technological advancements that enable effective operational maintenance, growing product variety, sophisticated design and packaging, and sales monitoring. In a range of industries, including textiles, medicines, and consumer goods, cottonseed processing is a procedure used to minimize moisture, increase fiber quality, and create higher-quality products.
During the forecast period, rising demand for new applications, rising cotton demand in the textile industry, rising adoption of cottonseed meal as animal feed, and changing consumer living standards are some of the factors anticipated to propel growth in the cottonseed processing market. Consequently, enhanced equipment and technologies as well as increased buying power will create new opportunities for the cottonseed processing industry. Additionally, the market will further expand due to the acceleration of urbanization and modifications in consumer lifestyles.
Moreover, in 2020, BASF enhanced its cotton offering from seed to harvest, with the launch of two new seed treatment packages, Core and Prime seed treatments. In every bag of FiberMax® and Stoneville® cotton seed, these new products combine market-leading cotton seed treatment fungicides with Copeo® Seed Treatment nematicide.
One of the main factors propelling the market's expansion is the growing use of technology in cotton seed treatment methods. The market is expanding as a result of several manufacturers developing cotton seed treatment methods to increase crop yields and productivity. Additionally, to safeguard cotton against diseases, novel systemic cotton seed treatment fungicides and cotton seed treatment insecticides have been introduced in the market. For instance, Copeo Seed Treatment, a novel seed treatment for cotton called Copeo introduces a new mechanism of action to the market for cottonseed treatments and helps increase yields when nematodes are present. It is available in FiberMax® and Stoneville® Cotton variants. Additionally, Aeris® is presently the only product on the market with two efficient modes of action against thrips, making it the ideal choice for resistance management. It offers up to four weeks of protection from several early-season pests.
The rising demand for higher-quality cotton seed treatment chemicals to produce a better crop and higher-quality cotton is expected to aid the cotton seed treatment market growth. The seed improvement techniques have been widely accepted as the industry has been expanding its support among crop producers as a result of the global change in demand from open-hybrid and farm-saved seed types to commercialized seeds.
In the anticipated period, the Asia-Pacific region is expected to witness a high CAGR in the cottonseed treatment market due to the expansion of the textile, consumer goods, and feed sectors. Consumption of processed cottonseed is influenced by rising consumer hygiene problems, chronic diseases, and injuries. Additionally, Pakistan, China, and India produce the majority of the cotton in the Asia-Pacific area. Furthermore, a growing number of businesses operating in the region's commercial sector are concentrating on offering seed companies product combinations that offer broad-spectrum cotton seed treatment fungicides and cotton seed treatment insecticides.
Whereas, North America's robust economy and cutting-edge agricultural biotechnology research serve as a stable foundation for the cotton seed treatment market growth. Various government programs in the US and Canada encourage biotechnological research in agriculture. As a result, regional government efforts are expected to increase throughout the projection period, spurring market expansion. For instance, the US government's supportive stance towards the use of technology in agriculture is fostering the use of cotton seed treatment chemicals.