Rice Seeds Market Size, Share, Growth Analysis, By Type(Open-Pollinated Varieties, Commercial Hybrids), By Hybridization(Two-Line, Three-Line), By Grain Size(Small, Medium, Large), By Treatment(Treated, Untreated), By Region - Industry Forecast 2024-2031

Rice Seeds Market size was valued at USD 6.69 billion in 2019 and is poised to grow from USD 7.14 billion in 2023 to USD 12.8 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).

The rice seeds market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Bayer AG', 'BASF SE', 'Syngenta AG', 'Dow AgroSciences LLC', 'DuPont de Nemours, Inc.', 'Nuziveedu Seeds Ltd.', 'Mahyco Seeds Company Limited', 'RiceTec AG', 'Krishidhan Seeds Pvt. Ltd.', 'Advanta Limited', 'SL Agritech Corporation', 'Hefei Fengle Seed Co. Ltd.', 'China National Seed Group Corporation', 'Longping High-Tech Agriculture Co. Ltd.', 'JK Agri Genetics Ltd.', 'Monsanto Company', 'Takii & Co. Ltd.', 'Kaveri Seed Company Limited', 'Sakata Seed Corporation', 'Rasi Seeds (P) Ltd.'

In the upcoming years, it is projected that the need for rice to meet rising food consumption would increase due to the growing population. However, the growth in rice production presents a problem for farmers because of the availability of constrained water and land resources. The only way to solve this problem is to make rice seeds more productive. Due mostly to slight increases in the potential rice output, rice productivity has either stalled or decreased in several parts of the world during the previous few years. A way for nations to increase rice yield and attain self-sufficiency in rice production is through the creation of hybrid seeds.

Government and corporate entities have been giving farmers and agriculturalists a lot of help. Production has increased as a result of the simple accessibility of agricultural credits, fertilisers, pesticides, contract services, and machinery to meet the increasing demand. In addition to receiving help from governmental and nonprofit groups in the form of technical information necessary for improved crop management methods and increased yields, farmers have also been using knowledge-intensive technologies. All of these initiatives help to produce high-quality seeds that guarantee germination, freedom from weeds and illnesses spread by infected seeds, crop stands, a better harvest, and more financial success.

As rice is a common staple meal in most Asian nations, the Asia Pacific region accounted for more than 75.0% of the income in 2021. In nations like India, Vietnam, Thailand, and Sri Lanka, more than 100 kilograms of rice are used yearly per person. In these Asian countries, more than 520 million people get more than 50% of their calories from rice. In the upcoming years, the per capita consumption of these goods as a staple diet will continue to rise in middle-to-low-income Asian nations, such as the Philippines, Laos, Myanmar, Bangladesh, and Cambodia. For example, India's rice exports (basmati and non-basmati) increased dramatically by a whopping 87 percent to 17.72 million tonnes (MT) in 2020–21 from 9.49 MT in 2019–20. India's rice exports increased by 38% in value to 8815 million USD in 2020–21 from 6397 million USD recorded in 2019–20. India's rice exports increased in value by 44% to Rs 65298 crore in 2020–21 from Rs 45379 crore the year before. India's rice exports increased by more than 33% to 11.79 MT in the first seven months of the current fiscal year (2021–22) from 8.91 MT during April–October 2020–21. It is predicted that India would export more rice in 2021–22 than it did in 2020–21, when it set a record of 17.72 MT. India sent non-basmati rice to nine nations in 2020–21, including Timor–Leste, Puerto Rico, Brazil, Papua New Guinea, Zimbabwe, Burundi, Eswatini, Myanmar, and Nicaragua, while preceding shipments were of a lower scale or had not yet been made.