The Asia Pacific region dominated the seed processing equipment market

Posted on 2020-10-07 by MarketsandMarkets in Agriculture // 0 Comments

Process equipment market for seed industry includes processed seed market and seed processing equipment market. The processed seed market is estimated at USD 56.07 Billion in 2017 and is projected to reach USD 91.32 Billion by 2022, at a CAGR of 10.2% from 2017. On the other hand, the seed processing equipment market is projected to reach USD 3.25 Billion by 2022 from USD 2.00 Billion in 2017. Seed processing is crucial to make seeds ready for sowing. The necessity to increase food production and shrinking arable land has increased the demand for processed seeds, and consequently, seed processing equipment. Higher acceptance and area under GM crop, the rise in globalized trade for processed seed, and growth in awareness in developing countries are other factors driving the growth of process equipment market for seed.

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The Asia Pacific region dominated the seed processing equipment market and is projected to grow at a significant rate from 2017 to 2022, in terms of value. China is projected to be the fastest-growing market in the region. China is estimated to be the largest producer and consumer of processed seeds and seed processing equipment in the region, in 2016. The increase in production of fruits & vegetables is a key factor for the growth in China’s agricultural exports that leads to an increase in the demand for commercial seed and seed processing equipment. However, the high prices of processed seeds is a major restraint for the growth of this market.

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The processed seed market is organized and is dominated by few large players such as Bayer (Germany), The Dow Chemical Company (US), Monsanto (US), Syngenta (Switzerland), and KWS Group (Germany), while the seed processing equipment market is competitive and fragmented, with large-scale seed equipment manufacturers such as Cimbria (Denmark), PETKUS Technologie (Germany), Lewis M. Carter Manufacturing (US), Westrup (Denmark), and Alvan Blanch Development Company (UK), which have been profiled in the report. These leading players have adopted various strategies such as investments & expansions, new product launches, mergers & acquisitions, agreements, partnerships, joint ventures, and divestments to explore new and untapped markets, expanding in local areas of emerging markets, and developing a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach, but has also reinforced their market position by gaining a larger share in terms of revenue and product portfolios.

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