A recent report published by Infinium Global Research on seed market provides an in-depth analysis of segments and sub-segments in global as well as regional seed market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional seed market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global seed market. According to the report, the global seed market is projected to grow at a CAGR of 7.2% over the forecast period of 2018-2024.
A seed is a protective structure that lets a plant embryo survive for long periods of time before it germinates. The seed is a basic necessity for agricultural production of crops as the quality of the seed is one of the factors determining the achievement of the harvest and the quality of the product. Seed propagation increases genetic variation forming hybrids with superior qualities. Timely availability of quality seeds in adequate quantity decides the health and strength of an agricultural economy. High-quality seeds such as hybrid seeds offer better yield, significant uniformity, enhanced color, and disease resistance to the resulting plants.
Biotech crops are considered to be the fastest adopted crop technology in the history of modern agriculture. Thus, the requirement to increase the food production and increasing acceptance of area under cultivation of Genetically Modified (GM) crops drive the growth of the seed market. Genetically modified (GM) crops have many potential advantages in terms of raising agricultural productivity and reducing the need for environmentally harmful pesticides. Genetically Modified crops can be engineered to last longer once harvest which makes it possible to extend the distribution life of the food product. That makes it possible to use the existing infrastructure for food distribution to send healthy foods further around the world. Moreover, awareness among the farmers is increasing about the hybrid seeds that is driving the growth of the market. These factors are boosting the growth of the seed market. In addition, diversification of diets and increasing use of wasteland for agriculture is further strengthening the growth of the seed market. However, low awareness of genetically engineered crops is likely to curtail the growth of the seed market. Furthermore, the introduction of new technologies along with the potential benefits over the conventional seeds are anticipated to create several growth opportunities for the key players in the seed market. On the other hand, the high growth potential in emerging markets and untapped regions provide new growth opportunities for the market players. Adoption of commercial farming and increasing awareness about scientific and good agricultural farming practices can create lucrative opportunities for the market.
Among the geographies, North America dominated the global seed market. Asia-Pacific region is the second biggest seed market in the world. The leading position of the North American region is due to the adoption of GMO seeds and hybridization of seeds in large scale. Moreover, Asia-Pacific is anticipated to be the fastest growing region. An outstanding growth is observed in this region for the seed market over the past few years due to the support from governments as well as national and international associations to increase the agricultural production of oil, grains, fruits, and vegetables to meet the need for food products.
In the case of fruits and vegetables, India ranks at number 16 in the global fruits and vegetable seed exports. Rising awareness among the farmers related to the benefits of using certified quality seeds has led to an increase in the demand for seeds over the past few years in the Asia-Pacific region. Moreover, several factors, including increased subsidies and improved government thrust on the use of high yielding varieties will lead to increased productivity in the seed market. Now with more countries opening up for genetic modification cultivation, there exists huge potential to export Cotton seeds from India.
The report on global seed market covers segments such as seed type, crop type, and distribution channel. On the basis of seed type, the global seed market is categorized into organic, Inorganic, and genetically modified. On the basis of crop type, the global seed market is categorized into grains & cereals, oilseeds, and fruits & vegetable seeds. On the basis of a distribution channel, the global seed market is categorized into direct sales and farmer producer, distribution by co-operatives and non-government or quasi-government agencies, industrial processors, retail store dealers, distribution by departments of agriculture, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-Pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the seed market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global seed market such as Dow AgroSciences LLC, Monsanto, Groupe Limagrain, Bayer Crop Science, E. I. Du Pont De Nemours and Company, Syngenta AG, Sakata Seed Corporation, Rallis India Limited, and Shriram Bioseed Genetics India Limited Company.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global seed market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of seed market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the seed market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the seed market to understand the present and future trends in this market and formulate their strategies accordingly.
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