This is driven by the increased trade of processed seeds at the global level, growing awareness among farmers in emerging countries of the Asia Pacific region pertaining to the advantages of seed treatment, and the rise in investment from governments and companies.
Northrook, IL -- (SBWIRE) -- 07/01/2020 -- The seed processing market is estimated at USD 9.1 billion in 2019 and is projected to reach USD 16.6 billion by 2025, recording a CAGR of 10.6% during the forecast period. This is mainly driven by the rise in demand for high-quality seeds from the developed regions of Europe and North America. Apart from this, the rise in awareness among farmers about the benefits associated with seed treatment products in Asia Pacific is further projected to drive the growth of the seed processing market. Ease of trade between countries and regions is projected to create lucrative opportunities for seed processing equipment companies.
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Key Players:
- Bayer (Germany)
- BASF (Germany)
- Corteva (US)
- Syngenta (Switzerland)
- Nufarm (Australia)
- Lanxess (Germany)
The seed treatment segment is projected to be the fastest-growing in the seed processing market during the forecast period.
In Asia Pacific, particularly in countries such as India, farmers are replacing seeds saved from previous crops with advanced seeds developed by seed companies. The rise in demand for hybrid seeds due to factors such as the increase in the middle-class population, rise in disposable income, and growth in the food processing sector is projected to drive the growth of the seed processing market in the developing regions. Seed treatment products usually include insecticides, bactericides, and fungicides. They provide enhanced crop cultivation solutions at a relatively low cost as compared to spraying, which makes it one of the preferred treatments for seeds. Thus, seed treatment manufacturers are projected to witness significant growth in developing countries.
The cereals & grains segment is projected to record the fastest growth during the forecast period.
Cereals & grains are consumed as staple food products in many countries. They include wheat, rice, corn, sorghum, oats, and barley. Rice forms a staple food for consumers in many developing countries. It is mainly consumed in Asia, Africa, Latin America, and the Caribbean. Corn is consumed on a larger scale in the US, with the country being the largest producer of corn at the global level. Thus, increasing awareness of the benefits of seed processing, such as enhanced seed germination and protection from pathogens, is a key factor that is projected to drive the growth of the cereals & grains segment in the seed processing market.
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Asia Pacific is projected to be the fastest-growing market during the forecast period.
The Asia Pacific seed processing market is projected to be the fastest-growing during the forecast period. Countries such as China and Australia constituted the largest markets in the Asia Pacific region. China is projected to create lucrative opportunities for seed processing companies. The country is the second-largest market for planting seeds, after the US, as per the USDA. It is among the largest producers of crops, such as soybean and wheat. Australia is backed by the leading seed treatment company, Nufarm. Furthermore, India is projected to be another key revenue generator due to the rise in awareness among farmers about seed treatment products. Thus, Asia Pacific stands as a high growth market for the seed processing market.