ID: MRFR/F-B & N/3580-HCR | 110 Pages | Published By Sakshi Gupta on March 2023
Hybrid Seeds Market Size was valued at USD 86.2 billion in 2022. The Hybrid Seeds market is projected to grow from USD 94.6 Billion in 2023 to USD 165.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.8% during the forecast period (2023 - 2030). Some of the market drivers expected to drive the market growth are Product innovation and agricultural modernization that are responsible for market's expansion. Other factors that are expected to contribute to market expansion include the introduction of improved hybrid seed varieties, diet diversity, and the use of hybrid seeds with advanced features such as seed coatings.
Crop Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Hybrid Seeds Market Trends
The hybrid seeds market has seen extensive development over the last few decades, fueled by a variety of factors such as rising public and private initiatives for hybrid seeds, such as new seed launches, geographical expansion, and fertilisation area expansion. For example, Bayer's Vegetable Seeds division held its fourth annual PragatiDiwas in January 2021 at its Bengaluru mega breeding station.
During the event, more than 120 high-yielding seeds from 14 fruit and vegetable crops were displayed, including tomatoes, hot peppers, watermelon, cabbage, cauliflower, cucumber, and beans. It also provided farmers with the opportunity to learn about effective agricultural practises for proper cultivation. The gathering saw the introduction of four new Seminis vegetable seed varieties: 'Anshuman' tomato, 'SVHA9093' hot pepper, 'Bazlet' cucumber, and 'Himgauri' cauliflower. These cultivars are now available for purchase.
Furthermore, East-West Seed, a Nigerian company, released new hybrid seed varieties in November 2021 to increase farmers' yield as part of an initiative to expand and diversify the vegetable sector. Among the hybrid varieties are tomato, pepper, pumpkin, watermelon, and pawpaw. The product launch, exhibition, and seed fair in Abuja, according to East-West Seed Nigeria, aimed to improve farmers' access to quality seeds and expand marketing and distribution channels to consumer markets. Thus, geographical expansion to emerging areas and the introduction of new seeds are the factors driving the Hybrid Seeds market revenue growth during the forecast period.
Hybrid Seeds Market Segment Insights
Hybrid Seeds Crop Type Insights
The Hybrid Seeds market segmentation, based on Crop Type, includes Cereals & Pulses, Fruits & Vegetables, and Oilseeds. The Fruits & Vegetables segment held the largest market share in 2022, followed by Cereals & Pulses and Oilseeds. This trend is expected to continue during the forecast period. The demand for hybrid seeds in the Fruits & Vegetables segment is driven by the increasing population and the need for higher yields and quality produce. Hybrid seeds have the potential to produce crops with desirable traits such as disease resistance, better yield, and uniformity, which make them popular among growers.
Hybrid Seeds Seed Treatment Insights
The Hybrid Seeds market segmentation, based on Seed Treatment, includes Treated and Untreated. The Treated segment held the largest market share in 2022. The demand for treated hybrid seeds is driven by the need for protection against pests and diseases, which can result in lower yields and reduced crop quality. Treated seeds are coated with various chemicals and coatings that provide protection against pests, diseases, and environmental stressors such as drought and extreme temperatures. These treatments can also help to improve seed germination and seedling growth, leading to higher yields and better crop quality.
Untreated hybrid seeds, on the other hand, do not have any chemical coatings or treatments and are usually sold in their natural form. They are often used by growers who prefer to use organic or natural methods for pest and disease control. While the demand for untreated hybrid seeds is growing, it still holds a smaller market share compared to the treated segment.
FIGURE 1: HYBRID SEEDS MARKET, BY TREATMENT, 2022 & 2030 (USD bILLION)
Crop Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Hybrid Seeds Distribution Channel Insights
The Hybrid Seeds market data has been bifurcated by Distribution Channel into Direct To Farmers, Cooperative, and Mediators. The Direct to Farmers segment holds the largest market share due to the growing trend of farmers purchasing seeds directly from seed companies or online platforms. This segment offers several benefits to farmers, including convenience, access to a wide range of seed varieties, and cost-effectiveness. Direct-to-farmer seed companies often offer lower prices than traditional seed dealers, which has made them popular among small-scale farmers in developing countries.
Hybrid Seeds Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share in 2022, followed by Europe, Asia Pacific, and the rest of the world. This trend is expected to continue during the forecast period of 2023-2030. The North American market for hybrid seeds is driven by the high demand for high-quality produce and the adoption of advanced agricultural practices. The region has a well-established agricultural industry, with a focus on high-value crops such as corn, soybean, and vegetables, which are major segments for hybrid seeds. Additionally, the region has a favorable regulatory environment that supports the development and adoption of new technologies in agriculture, including hybrid seeds.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: HYBRID SEEDS MARKET SHARE BY REGION 2022 (%)
Crop Type: Secondary Research, Primary Research, MRFR Database, and Analyst Review.
The European hybrid seeds market is driven by the increasing demand for sustainable agriculture practices and the need for high-quality crops. The region has a well-developed agricultural industry and is home to some of the world's leading seed companies. The European Union has also established regulations and guidelines to promote sustainable agriculture practices, which has led to increased demand for hybrid seeds. Further, the Italy Hybrid Seeds market held the largest market share, and the Germany Hybrid Seeds market was the fastest growing market.
The Asia Pacific hybrid seeds market is driven by the increasing population and the need for higher yields and better-quality produce. The region is home to some of the world's largest agricultural producers, including China and India, which are major markets for hybrid seeds. The region also has a growing demand for food grains and vegetable oils, which are major segments for hybrid seeds. Further, the China Hybrid Seeds market held the largest market share, and the India Hybrid Seeds market was the fastest growing market in the Asia-Pacific region.
Hybrid Seeds Key Market Players & Competitive Insights
Few large companies are recognized as major market players in the seed industry, while the majority of private companies focus on profitable crops, particularly those with hybrids. The level of concentration in the seed industry has increased dramatically over the last few decades and is continuing to rise. Multinational corporations have dominated a large portion of the hybrid seed market, primarily through the market developments such as acquisition of other seed companies. Increased mergers and acquisitions in the seed industry are expected to boost organizational efficiency and synergy in R&D and innovation in order to meet the growing demand for crop produce, thereby driving Hybrid Seeds industry.
The Hybrid Seeds market major player such as DOW AgroSciences LLC, Monsanto, KWS, Land O Lakes Inc, Mahyco, E.I.Du Pont De Nemours company, Syngenta AG, Advanta limited, Takii and Co Limited, Bostadt India Limited, and Others.
Monsanto, now a part of Bayer, is one of the largest and most well-known companies in the hybrid seed market. The company was founded in 1901 and has since become a leader in agricultural biotechnology, with a focus on developing high-quality hybrid seeds and other agricultural products. Monsanto's hybrid seed portfolio includes a wide range of crops, including corn, soybean, cotton, canola, and vegetable seeds. The company's seeds are designed to improve crop yields, resist pests and diseases, and withstand harsh environmental conditions.
Land O'Lakes is a large, farmer-owned agricultural cooperative that operates in a variety of areas, including the hybrid seed market. The company was founded in 1921 and is headquartered in Minnesota, USA. Land O'Lakes has a diverse hybrid seed portfolio that includes a range of crops, such as corn, soybeans, alfalfa, canola, wheat, and sorghum. The company's seeds are developed to meet the needs of farmers across different regions and growing conditions. The company's focus on innovation has led to the development of hybrid seeds that are optimized for specific traits, such as yield, pest resistance, and drought tolerance.
Key Companies in the Hybrid Seeds market includes
Hybrid Seeds Industry Developments
November 2021: Crystal Crop Protection Limited, an India-based R&D-based crop solution company, paid an undisclosed sum for four hybrid seeds from Bayer CropScience. Crystal Crop Protection has signed a legally binding contract with Bayer to purchase cotton, mustard, pearl millet, and grain sorghum hybrids in India. Crystal expects this acquisition to strengthen its field crops seed business by bringing excellent brands and R&D skills. This acquisition is a step towards supplying high-performance seeds for Indian agriculture's long-term expansion.
August 2018: BASF completed the acquisition of Bayer's vegetable seeds business, which primarily operated under the Nunhems brand. The acquired vegetable seed business includes 24 crops and approximately 2,600 varieties.
Hybrid Seeds Market Segmentation
Hybrid Seeds Crop Type Outlook
Hybrid Seeds Seed Treatment Outlook
Hybrid Seeds Distribution Channel Outlook
Hybrid Seeds Regional Outlook
|Market Size 2022||USD 86.2 billion|
|Market Size 2023||USD 94.6 billion|
|Market Size 2030||USD 165.8 billion|
|Compound Annual Growth Rate (CAGR)||9.8% (2023-2030)|
|Market Forecast Period||2023-2030|
|Historical Data||2018 - 2021|
|Market Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Crop Type, Seed Treatment, Distribution Channel and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||DOW AgroSciences LLC, Monsanto, KWS, Land O Lakes Inc, Mahyco, E.I.Du Pont De Nemours company, Syngenta AG, Advanta limited, Takii and Co Limited, Bostadt India Limited, and Others.|
|Key Market Opportunities||Development of hybrid seeds that are resistant to pests and diseases. Growing demand for hybrid seeds in emerging markets|
|Key Market Dynamics||Growing population and increasing demand for food Increasing adoption of precision agriculture technologies|
The Hybrid Seeds market size was valued at USD 86.2 Billion in 2022.
The market is projected to grow at a CAGR of 9.8% during the forecast period, 2023-2030.
North America had the largest share of the market.
The key players in the market are DOW AgroSciences LLC, Monsanto, KWS, Land O Lakes Inc, and Mahyco.
The Fruits & Vegetables segment dominated the market in 2022.
The Treated segment had the largest share in the market in 2022.