Indian Cotton Seed Businesses are No Longer Requiring NOC from License Providers
The requirement of the no-objection certificate from license providers for creating new varieties based on earlier technologies has been abandoned by the Protection of Plant Varieties and Farmers' Rights authority. Many cotton seed firms are anticipated to benefit greatly from the waiver by having more options to create hybrid cotton seed variants. Small and medium-sized seed enterprises were severely constrained in their ability to grow by the no-objection certificate since they were denied access to the technology.
Rising Product Demand is Fueling Market Growth due to Growing Applications in the Medical & Packaging Industries
Antibacterial properties and health advantages including the moderate UV protection that cotton offers, make it an excellent choice for packaging and medical uses. These qualities eliminate the necessity for synthetic chemicals employed in textile applications, which provide built-in defense against outside influences. The busy schedules of medical professionals make it difficult for them to take the necessary care of their skin and bodies, and using synthetic face masks frequently might result in rashes on the face. In the medical sector, where they are employed as face masks, gowns, and hats, the product's benefits have increased the number of uses. All the increased demand of cotton is speeding up the rise of the seed cotton market.
Impact of COVID-19 on the Market to Restrict its Growth
The COVID-19 outbreak had a detrimental effect on the market size for 2020 as small and medium-sized firms worked to secure their future. Leaders in the industry are presently concentrating on creating innovative tactical solutions to deal with urgent crises like the COVID-19 epidemic. Cotton seed farmers require the administration to quickly release updated BT cotton seed costs to avoid a lack of seeds. The COVID-19 epidemic drove various countries to enact a rigorous lockdown, which caused some people's jobs and routines to end. Additionally, many companies worldwide are experiencing a shortage of personnel and raw materials as a result of the pandemic scenario, which is anticipated to have an impact on how the market for seed cotton develops.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the seed cotton market plan acquisitions to improve their brand recognition globally. For instance, in 2019, about USD 46 billion worth of cotton was produced worldwide, with USD 15 billion worth of trade. In 75 different nations, the cotton industry reportedly employs 150 million people. Thus, driving the seed cotton market.
List of Key Players Profiled in the Report
- Longping High-tech
- Nuziveedu Seeds Ltd
- Kaveri Seeds
- Mayur Ginning and Pressing Pvt. Ltd
Further Report Findings
- The market in North America is expected to gain a huge portion of the global seed cotton market share in the coming years. This is a result of the region's expanding cotton demand from the textile and apparel industry.
- Additionally, it is projected that the market would grow with the rise of the agricultural sector.
- In the Asia Pacific, the growth in this region is primarily driven by rising demand for both extra-long-staple cotton and upland cotton.
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Application, and By Geography|