Global Seed Market

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

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

Seed Market News

  • In July 2022 marked a significant milestone as Cortiva Agriscience, BASF, and MS Technologies joined forces in a collaborative endeavor aimed at advancing the next iteration of Enlist E3 soybeans. Through a strategic agreement, their collective focus revolved around integrating the nematode resistant soybean (NRS) trait into this innovative soybean variety, specifically tailored to benefit farmers in the United States and Canada. This collaboration aimed to introduce soybean varieties fortified with enhanced resistance against nematodes, addressing a critical concern for farmers and fortifying crop resilience.
  • In June 2022, a noteworthy event unfolded with the launch of Arunas RZ, a novel tropicalized lettuce variety. This introduction is poised to carve a significant path in bolstering the company's market presence. The debut of Arunas RZ represents an innovative addition to the company's product portfolio, anticipated to garner attention and market traction due to its distinctive traits. Positioned to meet the evolving demands of consumers and the agriculture industry, this lettuce variety is poised to make substantial strides and contribute to the company's growth.
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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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Global Seed Market

Report ID: SQMIG15A2379

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