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Seed Processing Market Report 2024 - Seed Processing Market Analysis, Size, And Opportunities
Seed Processing Market
According to The Business Research Company's, The seed processing market size has grown rapidly in recent years. It will grow from $11.73 billion in 2023 to $13.11 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to global population growth, expansion of commercial agriculture, focus on crop yield improvement, globalization of seed trade, government support and agricultural policies, increase in private investments.
The seed processing market size is expected to see rapid growth in the next few years. It will grow to $19.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to growing demand for precision agriculture, focus on climate-resilient crops, rise in organic farming practices, government initiatives for agricultural modernization, enhanced seed quality standards. Major trends in the forecast period include innovation in seed coating technologies, drought-tolerant seeds, integration of digital agriculture solutions, genetically modified (gm) crops, data analytics in seed processing.
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Market Drivers and Trends:
The rising demand for high-quality crops is expected to propel the growth of the seed processing market going forward. A high-quality crop is one that has a good combination of look, texture, flavor, safety, and nutrition. Proper seed processing is essential for producing high-quality crops. Post-harvest processing is required to enhance seed crop output, lifespan, vigor, and overall quality. Good weed control strategies should be utilized to guarantee that weed seed is not gathered with crop seed. Fungicides should be used to combat seed-borne illnesses, and harvesting should be done at the proper time. Additionally, increasing awareness among farmers has favored the demand for high-quality crops. For instance, in September 2022 according to a report published by the United States Department of Agriculture, the use of genetically altered crops is becoming more common in the United States. In terms of herbicide-tolerant (HT) crops, soybean HT acreage climbed to 95% in 2021 and 2022, while HT cotton acreage increased to 94% in 2021. By 2022, over 90% of domestic maize acres will have been planted using HT seeds. Furthermore, domestic BT (Bacillus thuringiensis) corn acreage increased to 84% in 2022, and 89% of cotton acres in the United States were planted with genetically engineered, insect-resistant seeds in 2022. Therefore, the rising demand for high-quality crops will drive the seed processing market.
Product innovations are a key trend gaining popularity in the seed processing market going forward. Major companies operating in the seed processing market are developing innovative products to strengthen their position in the market. For instance, in May 2022, Bayer AG, a Germany-based biotechnology and pharmaceutical company launched a new product under the SeedGrowth brand called Routine Start 280FS to treat rice blast (leaf blast) in early-season rice seeds caused by rice blast fungus, enhancing crop output and resource efficiency for rice farmers. This new product reflects Bayer's commitment to producing innovative agricultural solutions that contribute to agriculture's long-term growth. Seed treatment is essential for preventing rice blast (leaf blast) disease during cultivation and improving seedling germination.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Bayer AG; BASF SE; Syngenta AG; Nufarm Ltd.; Clariant AG; Incotec Group BV; Sensient Technologies Corp.; Cimbria Manufacturing A/S; Alvan Blanch Development Company Ltd.; PETKUS Technology GmbH; Lewis M. Carter Manufacturing Co. Inc.; WESTRUP A/S; Seed Dynamics Inc.; Germains Seed Technology Inc.; Corteva Inc.; Limagrain Cooperative; KWS SAAT SE & Co. KGaA; DLF Seeds A/S; Precision Laboratories; Hefty Seed Company; Chromatech Inc.; Centor India Agri Pvt. Ltd.; Valent Biosciences Corporation; Advanced Biological Marketing Inc.; Adama Agricultural Solutions Ltd.; UPL Limited; AgReliant Genetics LLC; Barenbrug Holding BV; BrettYoung Seeds Limited; Sakata Seed Corporation; Takii & Co. Ltd.; Rijk Zwaan Zaadteelt en Zaadhandel B.V.
Seed Processing Market 2024 Key Insights:
• The seed processing market size will grow to $19.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Rising Demand For High-Quality Crops Propels Growth In The Seed Processing Market
• Seed Processing Market Evolves With Cutting-Edge Product Innovations
• North America was the largest region in the seed processing market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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