Commercial Seed Market Size, Share, Growth Analysis, By Type(Conventional Seeds, Genetically Modified Seeds), By Traits(Herbicide-tolerance (HT), Insect-resistance (IR), Abiotic stress tolerance, Disease resistance), By Region - Industry Forecast 2024-2031

Global Commercial Seed Market size was valued at USD 63.41 billion in 2019 and is poised to grow from USD 69.04 billion in 2023 to USD 138.5 billion by 2031, growing at a CAGR of 9% in the forecast period (2024-2031).

The ability of commercial seeds to maximize agricultural output while reducing arable land is a key driver of market expansion. The world's population is expected to exceed 10 billion people. This is projected to increase demand for food, which would drive the market even more. Furthermore, increased disposable income per capita is expected to result in resource consumption that is both extensive and inefficient. Due to the propensity of commercial seeds to boost crop output when compared to farm seeds, this is projected to be a lucrative prospect. Plant genetic codes may now be mapped more cheaply and quickly thanks to recent advances in molecular biology. Farmers can more effectively deal with key agricultural difficulties like high demand by increasing production with Genetically Modified (GM) seeds. As a result, biotechnology seeds are in high demand due to their high efficiency in agricultural production.

Commercial seeds are used for crop production planting in the agriculture business. To generate a high-volume, high-quality harvest from farms, commercial seeds are processed and refined. In ancient times, the farmer produced and treated seeds for sowing reasons. Commercial seeds, on the other hand, are currently processed by seed companies and sold to farmers. The world's largest commercial seed companies are focusing their research efforts on ways to boost agricultural production while working with limited resources.

The United States, Brazil, Argentina, Canada, and India are among the major countries implementing GM agricultural growth. The market for GMO crops accounted for more than 10% of arable land, with significant regional heterogeneity. For example, GM crops are widely grown in the United States, but their production is restricted in nations such as Russia, Turkey, and Saudi Arabia.