The new report by Expert Market Research titled, ‘Global Seeds Market Share, Size, Trends, Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global seeds market, assessing the market based on its segments like crop type, seed type, traits, seed treatment, seed availability, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 65.4 Billion
- Forecast CAGR (2023-2028): 7.1%
- Forecast Market Size (2026): USD 98.2 Billion
The global seeds market is being driven by the world’s rising population, which is driving up demand for food production. As a result of rapid urbanisation, the amount of arable land available per capita has decreased. Farmers will now improve the productivity of their farmlands with the introduction of genetically modified (GM) seeds, as GM variants produce more than non-GM variants. This is expected to increase demand for genetically modified seeds around the world.
Furthermore, the governments in many countries are promoting the use of biofuel because of its environmental benefits, which is driving up demand for crops like soybean and corn and, as a result, increasing demand for seeds for these crops.
Industry Definition and Major Segments
A seed is an embryonic plant with a protective covering around it. Seed formation is a part of the reproduction process in seed plants, known as spermatophytes, which include gymnosperm and angiosperm plants.
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The market is segmented on the basis of crop type into:
- Oilseeds
- Cereals and Grains
- Fruits and Vegetables
- Others
Oilseeds are further divided into soybean, sunflower, cotton, and canola/rapeseed. Cereals and grains are sub-divided into corn, wheat, rice, and sorghum. Fruits and vegetables are further divided into tomatoes, melons, brassica, pepper, lettuce, onion, and carrot. Other seeds are further divided into alfalfa, clovers and other forage, flower seed, and turf grasses.
On the basis of seed type, the industry is bifurcated into:
- Genetically Modified Seeds
- Conventional Seeds
On the basis of traits, the market is divided into:
- Herbicide-Tolerant
- Insecticide-Resistant
- Other
On the basis of seed treatment, the market is categorised into:
- Treated
- Non-Treated
On the basis of seed availability, the industry is bifurcated into:
- Commercial
- Saved
Regionally, the industry can be classified into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The market is being driven by rising demand for cereals, oils, and vegetables, along with the increasing adoption of biotech crops and shrinking per capita farmland. To meet this need, crop yield increase has become a necessity, promoting market growth. To address rising demand for grains, oils, and vegetables, governments in various countries have promoted sustainable farming practises, boosting commercial seed adoption over the projection period.
The vegetable seed market is boosted by greater hybrid adoption and rising seed replacement rates in major crops such as rice, maize, and vegetables, and the rising demand for processed vegetables in domestic households and the foodservice industry.
The focus of the research and development is on the creation of novel molecular stacks that will allow hybrids to have three or more features. Farmers would be able to achieve larger yields and greater resistance to pesticides and herbicides in this manner, boosting the seed market’s growth.
Key Market Players
The major players in the market are Bayer AG, Syngenta Group Co.,Ltd., Groupe Limagrain Holding, Corteva, Inc., Sakata Seeds Corporation, and Rallis India Limited, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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