Process equipment market for seed industry includes processed seed market and seed processing equipment market. The processed seed market was valued at USD 51.63 Billion in 2016 and is projected to reach USD 91.32 Billion by 2022, growing at a CAGR of 10.2% from 2017, in terms of value. The seed processing equipment market was valued at USD 1.84 Billion in 2016 and is projected to reach USD 3.25 Billion by 2022 and growing with a CAGR of 10.2% from 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.
The North American region dominated the processed seed market and is projected to grow at a significant rate from 2017 to 2022, both in terms of value and volume. The US is projected to be the fastest-growing market in the region. The country is the largest producer of processed seed in the region. The processed seed market in the country is majorly driven by factors such as high usage of processed seed, technological advancements in farming, and the increased use of genetically modified crops. Multinational corporations in the US played a major role in the advancement of the process equipment market for seed industry, with continuously evolving technological innovations in agricultural and food systems.
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.
The various contributors involved in the value chain of the proceed seed market include manufacturers, suppliers, distributors, intermediaries, and customers, and agricultural product manufacturers [such as Bayer (Germany), The Dow Chemical Company (US), Monsanto (US), Syngenta (Switzerland), KWS Group (Germany)] and seed processing equipment market such as Cimbria (Denmark), PETKUS Technologie (Germany), Lewis M. Carter Manufacturing (US), Westrup (Denmark), and Alvan Blanch Development Company (UK).
