Market Trends of cotton seed Industry (seed for sowing)
Globally, India dominated the cotton cultivation due to favorable agronomic conditions and huge domestic and export demand for cotton.
- Cotton is the major fiber crop cultivated in the world. The total area under cotton cultivation reached 33.2 million hectares in 2022, which decreased by 3.9% between 2017 and 2022. Fluctuations in cotton prices and market uncertainties led farmers to adopt other crops that are stable and profitable. Regions like Asia-Pacific faced water scarcity in cotton production. In such areas, farmers shifted to crops that require less water. India leads the global cotton cultivation. It accounted for 41.3% of the global area under cotton cultivation, with 13.7 million ha in 2022. The country has significant domestic and export demand for cotton. As a result, the cotton cultivation area in the country is estimated to reach 16.1 million ha by 2030.
- Africa is the second largest region, accounted for 15.1% of the global cotton acreage in 2022. The cultivated area in Africa increased by 7.5% between 2017 and 2022. Increased access to global markets and government policies such as subsidies and infrastructure improvements to promote cotton production have incentivized farmers to expand their cultivation land for cotton.
- South America is the fastest-growing region in terms of area under cotton cultivation globally. The cotton acreage increased by 51.8% between 2017 and 2022 in South America due to warm temperatures and consistent rainfall in many areas, which provide an ideal environment for the extension of cotton acreage. Brazil dominated the cultivation area in the region, with a 75.6% share in 2022. Brazil is also a significant player in the global cotton market. The rise in domestic and export demand for cotton and favorable government policies are estimated to drive the expansion of cotton acreage worldwide during the forecast period.
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High yield loss in cotton due to bollworms and weeds increased the demand for insect-resistant and disease-resistant seeds with wider adaptability
- Cotton crops are prone to damage caused by insect pests. There are more than 166 insects that affect the crop. It is prone to damage from the seedling stage by grasshoppers, thrips, and aphids. The other major insects that cause severe damage are jassids, spiny bollworms, spotted bollworms, and pink bollworms. For instance, during the 2021-2022 growing season, farmers in India witnessed a severe infestation of pink bollworms, which led to significant crop losses across the country. Companies such as Bayer AG, Anhui Tsuen Yin Hi-Tech Seed Industry Co. Ltd, and Kaveri Seeds are providing seed varieties resistant to sucking pests to help growers earn high profits by producing high-quality cotton for processing industries. Thus, there is a high demand for insect-resistant varieties in the market.
- Seed manufacturing companies are developing varieties with drought-tolerant and disease-resistant traits due to abnormal climatic conditions and the prevalence of diseases such as cotton leaf curl virus (CLCV), soil-borne diseases, and bacterial diseases. Products such as Pravir, Surpass, and Balraj + (MRC 7365 BG II) are used by cotton growers to resist diseases.
- There is a growing demand for cotton varieties that exhibit wider adaptability and possess quality traits like high fiber quality, white extra-long staples, medium-sized bolls, and an elliptical shape. For instance, BASF SE, Bayer AG, and JK Agri Genetics offer different seed varieties that have these traits to meet the growing demand.
- The prevalence of sucking pests and diseases and changing weather conditions are expected to drive the demand for improved cotton seed varieties during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Transgenic breeding is the most popular breeding technique
