The GMI Research’s latest analysis reveals that the Seed Market is slated to register a significant CAGR over the forecast period. This is attributed to the strong demand from animal feed, biofuels, the food & beverage sector and the increasing population rate, and the high adoption of biotech crops due to the rising demand for grains, oils, and vegetables.
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Seed Market’s leading Manufacturers:
- Bayer AG
- Corteva
- Syngenta International AG
- KWS SAAT SE & Co. KGaA
- Groupe Limagrain
- BASF SE
- Land O’Lakes, Inc.
- TAKII & CO.,LTD.
- Sakata Seed
- Enza Zaden BV
Seed Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The strong demand for animal feed, biofuels, the food & beverage sector, and the increasing rate of the population worldwide are the key drivers contributing to the growth of the seed market. Moreover, farmers globally are inclining from conventional farming methods to gain improved yield and profit from the limited resource availability. Furthermore, there are various processes by which seeds can generate crude vegetable oil that can be changed into biodiesel. Flax seeds is an alternative for fish oil and have several applications in animal feed and aquaculture. Additionally, the emerging trend for certified seeds among farmers to get enhanced yield. Certified seeds are generated under strict seed certification standards to balance varietal yield. In addition to this, the high adoption of biotech crops due to the rising demand for grains, oils, and vegetables is further augmenting the growth of the market. Due to the reduction in per capita farmland, farmers are shifting towards the usage of high yield varieties (HYVs) and hybrid varieties to get improved returns. Farmers are drastically shifting towards packaged seeds from traditional seed sources that enable better returns. All these factors are bolstering the growth of the seed market.
The emergence of the COVID-19 pandemic has hindered the production, certification, distribution, and cost of seeds in the starting months, thereby acts as an important part of emerging resilient agricultural industries and food systems. There is limited personnel available for documentation processes, transportation, production, and a contraction in the market of plants and seeds, which created issues in terms of the production of seeds for international trade. All these factors are hampering the growth of the seed market share in terms of revenue over the coming years.
Crop Segment Drivers
Based on the crop, the grains & cereals is predicted to rise at a higher CAGR as they are largely utilized as a staple food in several Southeast Asian and Asian nations. Furthermore, the strong demand for crops including sorghum with the rising market for biofuels. Additionally, there has been an increase in per capita demand for cereals. For example, as per the OECD-FAO, the consumption of cereals has increased to 2.9 billion metric tons will 2027 around the world due to the increasing awareness for vitamin and protein-rich diets. These factors are responsible for the growth of the market.
Seed Market Segmentation:
Segmentation by Crop:
- Grains & Cereals
- Maize
- Rice
- Wheat
- Sorghum
- Others
- Pulses & Oilseeds
- Soybean
- Sunflower
- Canola
- Pulses
- Others
- Cotton
- Vegetables
- Others
Segmentation by Type:
- Conventional Seeds
- Genetically Modified Seeds
Segmentation by Trait:
- Herbicide Tolerance
- Insecticide Resistance
- Other Traits
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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