Seed Market Size, Share, Growth Analysis, By Type(Genetically Modified (GM) Seed, Conventional Seed), By Crop(Field Crops, Cotton, Corn, Rice), By Seed Treatment(Commercial Seeds, and Saved Seeds), By Seed Trait(Treated, and Untreated), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Seed Market?

Global Seed Market size was valued at USD 53.95 Billion in 2022 and is poised to grow from USD 56.9 Billion in 2023 to USD 82.04 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Q: Who are the key vendors in the Global Seed Market?

The competitive environment of the global Seed Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Ajeet Seeds Private Limited', 'S&W Seed Company', 'Ankur Seeds Pvt. Ltd.', 'Beijing Dabeinong Technology Group Co., Ltd.', 'Rasi Seeds (P) Ltd.', 'China National Seed Group Corp.', 'Emerald Seed, Inc.', 'Gansu Dunhuang Seed Co., Ltd.', 'Henan Goldoctor Seeds Co., Ltd.', 'Jiangsu Dahua Seed Group Co., Ltd.', 'Kaveri Seed Company', 'Nuziveedu Seeds Ltd.', 'Nunhems Seeds Private Ltd.', 'Rallis India Limited', 'Shriram Bioseed Genetics India Limited Company', 'Takii & Co. Ltd.'

Q: Which region accounted for the largest share in Global Seed Market?

Asia-Pacific emerged dominance in the global seed market as of 2022 and is further projected to continue dominating the market in the coming years. This region holds a formidable agricultural landscape, characterized by diverse agro-climatic conditions and expansive arable lands, facilitating robust agricultural practices. The dominance of this region also stems from multiple factors, such as the presence of a large population that automatically augments heightened food production, coupled with an evolving agricultural sector that embraces technological advancements. This, coupled with the rise in governmental initiatives that fosters agricultural innovation and modernization is also projected to aid in regional market expansion.

Report ID: SQMIG15A2379 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 131 | Figures: 73

Seed Market Dynamics

Drivers

Rise in Awareness among Farmers

A prevailing surge in farmers' awareness regarding the advantages of hybrids and biotech crops is anticipated to significantly propel the global seed market. Recent advancements in seed technologies, showcasing an array of advantageous traits such as heightened yields, enhanced quality, resistance to pests, tolerance to abiotic stresses, and suitability for animal feed, are driving a notable shift in farmer preferences. These innovative seed varieties, with their diverse beneficial attributes, are increasingly enticing farmers to choose them over traditional farm-saved seeds for crop cultivation.

Restraints

Stringent Regulatory Frameworks to Impede Market Growth

The seed market faces notable constraints attributed to stringent regulatory frameworks and intricate approval procedures surrounding genetically modified organisms (GMOs) and biotech seeds. These stringent regulations often present challenges, creating delays in introducing new seed varieties to the market. Moreover, concerns regarding intellectual property rights, particularly in the realm of genetically modified seeds, spark legal complexities and controversies, acting as significant hurdles to market expansion.

Seed Market Report Snapshots

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Seed Market size was valued at USD 53.95 Billion in 2022 and is poised to grow from USD 56.9 Billion in 2023 to USD 82.04 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The competitive environment of the Seed Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Ajeet Seeds Private Limited', 'S&W Seed Company', 'Ankur Seeds Pvt. Ltd.', 'Beijing Dabeinong Technology Group Co., Ltd.', 'Rasi Seeds (P) Ltd.', 'China National Seed Group Corp.', 'Emerald Seed, Inc.', 'Gansu Dunhuang Seed Co., Ltd.', 'Henan Goldoctor Seeds Co., Ltd.', 'Jiangsu Dahua Seed Group Co., Ltd.', 'Kaveri Seed Company', 'Nuziveedu Seeds Ltd.', 'Nunhems Seeds Private Ltd.', 'Rallis India Limited', 'Shriram Bioseed Genetics India Limited Company', 'Takii & Co. Ltd.'

A prevailing surge in farmers' awareness regarding the advantages of hybrids and biotech crops is anticipated to significantly propel the seed market. Recent advancements in seed technologies, showcasing an array of advantageous traits such as heightened yields, enhanced quality, resistance to pests, tolerance to abiotic stresses, and suitability for animal feed, are driving a notable shift in farmer preferences. These innovative seed varieties, with their diverse beneficial attributes, are increasingly enticing farmers to choose them over traditional farm-saved seeds for crop cultivation.

The growing adoption of biotech crops stands as a pivotal force propelling the expansion of the seed market. This notable surge finds its roots in the strides made within biotechnology, enabling the creation of crops imbued with superior traits that enhance their resilience, yield, and overall quality. Advancements in biotech have fostered the development of crops better equipped to withstand various challenges, meeting the evolving needs of agricultural practices. The increasing utilization of oil seeds by animal feed manufacturers, coupled with the growing demand from the biofuel industry, further amplifies the market's growth trajectory.

Asia-Pacific emerged dominance in the seed market as of 2022 and is further projected to continue dominating the market in the coming years. This region holds a formidable agricultural landscape, characterized by diverse agro-climatic conditions and expansive arable lands, facilitating robust agricultural practices. The dominance of this region also stems from multiple factors, such as the presence of a large population that automatically augments heightened food production, coupled with an evolving agricultural sector that embraces technological advancements. This, coupled with the rise in governmental initiatives that fosters agricultural innovation and modernization is also projected to aid in regional market expansion.

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Seed Market Size, Share, Growth Analysis, By Type(Genetically Modified (GM) Seed, Conventional Seed), By Crop(Field Crops, Cotton, Corn, Rice), By Seed Treatment(Commercial Seeds, and Saved Seeds), By Seed Trait(Treated, and Untreated), By Region - Industry Forecast 2024-2031

Seed Market Dynamics

Seed Market Report Snapshots

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FAQs

What is the market size of Seed Market?

Who are the key vendors in the Seed Market?

What is the key driver of Seed Market?

What is the key market trend for Seed Market?

Which region accounted for the largest share in Seed Market?

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