New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Seed Processing Global Market Report 2023" - https://www.reportlinker.com/p06479767/?utm_source=GNW
, PETKUS Technology GmbH, Lewis M. Carter Manufacturing Co. Inc., WESTRUP A/S, Seed Dynamics Inc., Germains Seed Technology Inc., and Corteva Inc.
The global seed processing market is expected to grow from $10.45 billion in 2022 to $11.73 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The seed processing market is expected to reach $17.71 billion in 2027 at a CAGR of 10.8%.
The seed processing market includes revenues earned by entities by providing drying, threshing, pre-cleaning, cleaning, size grading, treating, quality testing, packaging, and labeling.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Seed processing is the process of removal of dockage from a seed lot and the preparation of seed for commerce.It includes washing, drying, seed treatment, packing, and storage.
Seed processing helps in cleaning seeds by pre-cleaners which helps grade the seed shape.
North America was the largest region in the seed processing market in 2022. The regions covered in seed processing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of seed processing are seed treatment and seed coating materials.Seed treatment refers to the process of applying a fungicide, insecticide, or mixture of the two to seeds in order to rid them of storage insects, pathogenic organisms, and soil-borne pathogens.
They are segmented into various crop types such as vegetables, pulses, oilseeds, cereals and grains, flowers, ornamentals, and others, which are processed through various equipment such as cleaners, gravity separators, graders, de-stoners, seed treatments, dryers, and others.
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.
Technological advancements are a key trend gaining popularity in the seed processing market going forward.Major companies operating in the seed processing market are developing innovative technologies 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.
In July 2021, Solvay SA, a Belgium-based chemical seed coating company acquired Bayer for an undisclosed amount.This acquisition is part of Solvay’s ongoing effort to expand its portfolio of environmentally friendly, bio-based solutions for customers in the agricultural sector and enables Bayer to reinvest in opportunities.
Bayer AG is a Germany-based manufacturer of chemicals for seed coating and enhancement and agricultural products.
The countries covered in the seed processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The seed processing market research report is one of a series of new reports that provides seed processing market statistics, including the seed processing industry’s global market size, regional shares, competitors with a seed processing market share, detailed seed processing market segments, market trends and opportunities, and any further data you may need to thrive in the seed processing industry. This seed processing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06479767/?utm_source=GNW
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