ID: MRFR/AGR/5785-HCR | February 2021 | Region: Global | 90 pages
The seeds market size will be soaring at a notable rate from 2020 to 2027, presumes Market Research Future (MRFR).
Biotechnology is extensively being utilized for the development of stress-tolerant and highly nutritious crop varieties for protecting natural resources. The International Service for the Acquisition of Agri-biotech Applications confirms that the area used for growing biotech crops has surged 118-fold from 1.10 million hectares in 1997 to 197.8 million hectares in 2020, making biotech crops the most adopted technology over the years. Biotech crops have surged beyond the several crops including soybeans, corn, canola and cotton, to other crops including sugar beets, alfalfa, squash, papaya, potatoes, apples, and eggplant. Other than this, research on biotech crops carried out by the public sector are banana, rice, wheat, potatoes, pigeon pea, mustard and chickpea, with numerous economically-significant and nutritional traits that are beneficial to the food developers as well as consumers in emerging countries.
Given the erratic weather conditions and the substantial food demand among end consumers, the use of genetically-modified seeds has risen considerably among farmers. The costs based on the development of GM seeds is quite higher, which raises the price of seeds. Certain vendors are focused on developing GM seeds with certain traits (herbicide tolerance and insect resistance), owing to which they are able to charge a higher/premium for their seeds. Hybrid seeds as well as organic seeds of vegetables and fruits including apples, tomatoes, melons and grapes also have higher costs compared to the average price of the seeds. This can have a negative effect on the worldwide market for seeds in years to come.
However, emergence of modern technologies with higher benefits compared to the conventional ones, advances in seed replacement rate (SRR), and the rising demand for a variety of seeds in developing economies will offer lucrative opportunities to the brands in the following years.
The global seeds market has been segmented based on type, crop type, seeds treatment, trait, and region.
By type, the global seeds market has been bifurcated as GM (Genetically Modified) seeds and Non-GM seeds.
Based on category, the market is segregated as organic and conventional.
Based on crop type, the global seeds market has been segregated as cereals & grain, fruits & vegetables, oilseeds & pulses and others.
On the basis of seed treatment, the global seeds market has been classified as treated and non-treated.
The global seeds market has also been segregated, on the basis of trait, herbicide-tolerant, insecticide-resistant, and others.
The global seeds market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American seeds market has further been segmented into the US, Canada, and Mexico. The European seeds market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The seeds market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The seeds market in the rest of the world has been segmented into South America, the Middle East, and Africa.
KWS Vegetale, a well-known name in the seed industry, with focus on improving, producing and sales of sugar beet, corn, rapeseed, sunflower and cereal seeds, has acquired around 14.5-hectare farm in Spain. KWS will be setting up an improvement station that will comprise product display areas as well as offices for the R&D team.
South Dakota Soybean Processors LLC is planning to build a multi-seed processing unit close to Mitchell, South Dakota (US). The unit will have the capacity to produce around 35 million bushels of soybeans every year.
Regional Market Summary
Global Seeds Market Share (%), by Region, 2017
Source: Secondary Sources and MRFR Analysis
Asia-Pacific is expected to account for the largest revenue share in the global seeds market. North America is expected to grow with the highest CAGR during the forecast period due to the presence of several market players in the region and surging agricultural exports. The regions dominance can be attributed to the rising preference of farmers for commercially produced seed verities opposed to utilizing seeds from the last harvest. In addition, surge in crop production and increasing government initiatives in Europe’s agriculture industry are also driving the region’s market growth.
Global Seeds Market, by Type
Global Seeds Market, by Category
Global Seeds Market, by Crop Type
Global Seeds Market, by Seed Treatment
Global Seeds Market, by Trait
Global Seeds Market, by Region
Key Players in the Global Seeds Market
Frequently Asked Questions (FAQ) :
Based on type, the GM seeds segment, based on category, the conventional segment, based on crop type, the cereals & grains segment, based on seed treatment, the treated segment, and based on trait, the herbicide-tolerant segment, holds the major share in the global seeds market.
Substantial investment in R&D activities and new product launches of innovative verities of seeds, are major tailwinds pushing the growth of the global seeds market.
Asia Pacific holds the largest share in the global seeds market, followed by North America and Europe, respectively.
Bayer AG (Germany), DowDuPont Inc. (France), Syngenta AG (Switzerland), Monsanto Company (US), Groupe Limagrain (France), KWS SAAT SE (Germany), Land O'Lakes, Inc. (US), Maharashtra Hybrid Seeds Co. (India), Gansu Dunhuang Seeds Co., Ltd (China), and Sakata Seeds Corporation (US), are some of the top players operating in the global seeds market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global seeds market adopt to gain a larger competitive advantage.