The demand for various types of fabrics has greatly expanded, which has led to tremendous growth in the worldwide seed cotton market. Over the projection period, the overall market size will benefit from the rising acceptance rate of fiber-based fabric in various applications, including rugs, carpets, clothing & apparel, etc. The global industry will also be driven by investments made by developing nations in cutting-edge technologies that will raise productivity. Additionally, the rise in demand for natural textiles like sweaters will counteract the fall in popularity of denim jeans and other clothes made of synthetic materials, which shrink more easily than cotton-based textiles drives the market forward. However, the revenue generation for businesses might be hampered by severe price changes.
With small and medium-sized businesses attempting to support their future, the COVID-19 epidemic had a negative impact on the market size for the year 2020. Industry leaders are currently focusing on developing fresh tactical solutions to handle emergencies like the COVID-19 pandemic. In order to prevent a shortage of seeds, seed cotton farmers need the administration to disclose updated BT cotton seed costs promptly. Due to the COVID-19 epidemic, several governments were forced to impose a strict lockdown, which resulted in the termination of some people's tasks and routines. Additionally, because of the pandemic, many businesses worldwide are experiencing a shortage of workers and raw materials, which is predicted to impact how the seed cotton market develops in the coming years.
Growing Demand for Cottonseed Oil to Drive Market for Seed Cotton
Cottonseed oil helps to lower the chance of arrhythmias, which can cause a patient to pass away suddenly. Additionally, it helps lower blood pressure, lower triglyceride levels, and limit the rate at which atherosclerotic plaque grows. Due to the increase in demand for cottonseed oil across various businesses, the global market for seed cotton is anticipated to grow significantly in the upcoming years. It is believed that raising consumer awareness of the benefits of seed cotton will hasten the general market's growth during the anticipated time frame. Additionally, the low price of cottonseed oil for cooking purposes is projected to accelerate the market's growth soon. These facts indicate that the global seed cotton market will register a dramatic growth rate in the upcoming years. Some notable end-use industries of the global seed cotton market include food processing, retail, beauty care goods, and other diverse businesses.
High Cotton Prices Affect Market Growth
The main market restrainers are the price of cottonseed, the farming method, and raw materials. Cotton is typically more expensive than conventional alternatives because of the high economies required to grow cotton and the lack of technology for managing crop production. Additionally, there is a potential that an infection will lower cotton crop yields. The increased demand for clothing that exceeds availability is also posing problems for retailers and makers of clothing. The growing disparity between supply and demand further curbs consumer demand for goods.
Based on type, the seed cotton market is segmented into upland cotton, tree cotton, extra-long staple cotton and levant cotton. The upland cotton category dominated the market in 2022. Upland cotton, often known as "ordinary" or "American Upland," is a short-staple cotton cultivar (Gossypium hirsutum) produced in warmer regions of the world. In contrast to G. barbadense, which has longer fibers and yields Sea Island Cotton, the term typically refers to the main staple fiber that grows around the seeds.
Based on application, the seed cotton market is segmented into cotton planting, cottonseed oil production and fertilizer. The cottonseed oil production category dominated the market in 2022. The increased cottonseed oil production could be attributed to the growing popularity of deep-frying and the high smoke point of cottonseed oil. Cottonseed oil production is anticipated to increase globally in the upcoming years as its use in food and other industries continues to rise. The popularity of cottonseed oil due to its neutral flavor, its affordability when compared to other organic oils, and its growing health benefits are some of the elements that will probably drive the expansion of the cottonseed oil production category.
North America is projected to hold the largest share of the seed cotton market over the forecast period. This can be attributable to the region's growing cotton demand from the textile and garment sector. The U.S. leads the North American cotton market, which Canada and Mexico also dominate. In addition, it is anticipated that the expansion of the agricultural sector will help the market expand. On the other hand, the Asia Pacific seed cotton market is anticipated to grow significantly. The textile industry has recently experienced a comeback and is the primary driver of cotton demand. India and China are significant contributors to this growth because of their vast populations and improved living standards. It is anticipated that demand for upland cotton and extra-long-staple cotton will increase rapidly in the region.
LIST OF KEY COMPANIES PROFILED:
- Longping High-tech
- Nuziveedu Seeds Ltd
- Kaveri Seeds
- Mayur Ginning and Pressing Pvt. Ltd
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Application, and By Geography|