13-Jan-2023 | Zion Market Research
The global seed market size was worth around USD 61.2 billion in 2021 and is predicted to grow to around USD 107.8 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030.
A seed is a tiny, developing plant that is important to the growth and reproduction of plants. The plant uses seeds for a variety of purposes, including reproduction, germination, feeding the embryo, and dormancy in unfavorable weather.
The global seed market is expanding significantly. The necessity to enhance agricultural productivity as a result of the growing population is a significant factor driving this rise. The usage of biofuels is another important factor driving growth. Future market growth is anticipated to be driven by the use of corn for biofuels. The seed market is seeing increased demand as a result of rising demand for soybean and maize as fodder feed. Due to technological improvements, the market for genetically modified seeds has enormous growth potential.
Untapped areas and emerging markets provide the global seed industry with new growth prospects due to their high growth potential. However, certain factors restraining the growth of the seed market include patent laws that protect genetically modified seeds, making entry into the market difficult for new companies, safety hazards associated with the consumption of genetically modified seeds, and stringent government rules on the consumption of genetically modified crops.
The global seed market is segmented based on the trait, type, crop type, and region.
Based on the trait, the market is segmented into herbicide-tolerance, insect-resistance, and others. The other segment is expected to grow at a significant rate during the forecast period. The increased acceptance of crops with various features has resulted in a reduction in the use of herbicides and insecticides, lowering cultivation costs. Syngenta Group, for example, offers stacked trait seeds under its commercial brand Agrisure. The company's R&D is focused on the creation of new molecular stacks that would allow hybrids to have three or more features. Farmers would be able to achieve larger yields and greater tolerance to pesticides and herbicides this way. As a result, segmental growth will be driven over the projection period.
Based on crop type, the market is categorized into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The cereals & grains segment will hold a significant market share during the forecast period. The growing need for healthy food options, combined with consumers' high consumption of breakfast cereals, is fueling the rise of the cereals and grains market, which is an essential factor for the increased demand for these seeds for production among farmers. According to the FAO, global cereal trade in 2022/23 is expected to be 472 million tons, up 2.7 million tons from last month but still indicating a likely 1.9 percent (9.2 million tons) decline from the 2021/22 record level.
North America is the leading region in the seed market globally. Genetically modified seeds are expected to be the leading segment in North America, which is contributing towards the growth of this region. Growth in North America is closely followed by Asia Pacific and Europe. Extensive growth is predicted from the Asia Pacific region owing to the high consumption rate of commercial seeds in this region. In addition, other factors influencing the growth in Asia-Pacific are the growing population and support provided by the government and national & international associations to increase agricultural production. Countries such as India, Japan, China, and Australia are the major seed markets in the Asia Pacific region.
This review is based on a report by Zion Market Research, titled “Seed Market By Trait (Herbicide-tolerance, Insect-resistance, and Others), By Type (Conventional and Genetically Modified), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030
.”- Report at https://www.zionmarketresearch.com/report/seed-market
In September 2021, Bayer announced that it would add organically produced seeds to its variety of vegetable seeds under the new Vegetables by Bayer brand. The launch will center on the production of three essential greenhouse and glasshouse crops—tomato, sweet pepper, and cucumber—that are certified organic. In 2023, tomato rootstock variants will come next. Varieties will be offered for sale under the vegetable seed labels Seminis and De Ruiter.
The global seed market is dominated by players like:
The global seed market is segmented as follows:
By Crop Type
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