Increasing Adoption of Cottonseed Meal as Feed for Animals to Drive the Cotton Processing Market Growth

Posted on 2020-08-14 by MarketsandMarkets in Internet & Online // 0 Comments

The market for cotton processing is estimated at USD 59.7 billion in 2018 and is projected to grow at a CAGR of 4.0% from 2018 to 2023, to reach USD 72.6 billion by 2023. The growth of the cotton processing market is driven by the increasing demand for cotton processing in the textile industry and the rising adoption of cottonseed meal as feed for animals.

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Asia Pacific is projected to dominate the cotton processing market throughout the forecast period. Some factors influencing this dominance in the market include the rising textile industry, consumer goods, and animal feed. Rising chronic diseases and accidents along with increasing hygiene concerns among consumers have given rise to the consumption of processed cotton. Moreover, the technological advancements to increase the productivity is also propelling the market further.

Key Market Players:

Key players identified in cotton processing market include Lummus Corp (US), Bajaj Steel Industries Limited (India), Nipha Exports Private Limited (India), Shandong Swan Cotton Industrial Machinery Stock Co., Ltd. (China), Cherokee Fabrication (US), Reiter (Switzerland), and Toyota Industries (Japan). Key players are focusing on increasing their presence through undertaking investments and expansions and developing products specific to consumer preferences in these regions. These companies have a strong presence in Asia Pacific and North America.

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