Seed Market

The Seed Market size was valued at USD 40,400 Million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% during the forecast period.

Introduction of the Seed Market Report

Seed acts as the foundation for the progress of the food chain and plays a vital role in the sustainability of the agri-food system. Hybrid seeds are high-quality seeds, which offer significant uniformity, enhanced color, better yield, and disease resistance to the resulting plants.

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Market Dynamic

Key Drivers and Emerging Trends

The key factors propelling the growth of the global seed market are the growing rate of population across the globe and increasing demand from biofuels, animal feed, food & beverage industry. Furthermore, farmers across the globe are slowly transitioning from conventional farming methods to gain better yield and profit from the restricted resource availability. In addition, there are several processes by which seeds can produce crude vegetable oil that can be transformed into biodiesel. Flax seeds is a substitute for fish oil and has various applications in animal feed and aquaculture. Furthermore, there has been an increasing trend for certified seeds among farmers to get better yield. Certified seeds are produced under stringent seed certification standards to maintain varietal purity. Moreover, the growing adoption of biotech crops owing to the increasing demand for oils, grains, and vegetable is further propelling the growth of the market. Due to the decrease in per capita farmland, farmers are inclining towards the use of high yield varieties (HYVs) and hybrid varieties to get higher returns. As a result, farmers are encouraged to shift their focus from traditional seed sources to packaged seeds that allow better returns. These factors are contributing to the growth of the global seed market.

Impact of COVID-19 on the Seed Market

The COVID-19 pandemic has drastically affected the certification, production, distribution, and cost of seeds in the initial months, thus playing a crucial role in developing resilient agricultural sectors and food systems. There have been very few personnel available for transportation, documentation processes, production, and a contraction in the market of seeds and plants, which created problems in terms of the production of seeds for international trade. These factors have significantly hindered the growth of the global seed market during the widespread outbreak.

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Crop – Segment Analysis

Based on the crop, the grains & cereals segment is expected to grow at a higher CAGR over the forecast period. Grains are widely used as a staple food in various Asian and Southeast Asian countries. Moreover, there has been a high demand for crops such as sorghum with the increasing market for biofuels. Furthermore, the per capita demand for cereals has increased. For instance, according to the OECD-FAO, the consumption of cereals is witnessed to increase to 2.9 billion metric tons till 2027 across the globe owing to the rising awareness for vitamin and protein-rich diets. These factors are likely to boost the growth of the grains & cereals segment in the global seed market.

Type – Segment Analysis

On the basis of the type, the genetically modified seeds segment is projected to grow at a higher CAGR during the forecast period. This is majorly due to the favorable government regulations for the use of genetically modified seeds, increasing demand from the allied sectors, and growing export demand. Genetically modified crops protect food from deadly fruit and shoot borer (FSB). In addition, a decrease in the expenses of agricultural input costs and increased yield are some other factors which are supplementing the growth of the genetically modified seeds segment in the global seed market.

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Region – Segment Analysis

Based on the region, the Asia-Pacific region is anticipated to grow at a faster CAGR over the forecast period. This is mainly attributed to the rising adoption of hybrid varieties and growing seed replacement rate in major crops, which include maize, vegetables, and rice. China is one of the key rice producers across the globe and it has also started exporting rice seeds to other countries. For instance, in 2020, China exported a total of 500 metric tons of hybrid rice seeds to Pakistan. These factors play a significant role in surging the growth of the seed market in Asia-Pacific.

Top Market Players

Various notable players operating in the market include Bayer AG, Corteva, Syngenta International AG, KWS SAAT SE & Co. KGaA, Groupe Limagrain, BASF SE, Land O’Lakes, Inc., TAKII & CO., LTD., Sakata Seed, Enza Zaden BV, among others.

Key Developments

• • In 2020, BASF SE announced the inauguration of its new crop protection facility in Singapore to substantially increase the production capacity in the Asia Pacific region. This increase in production capacity aims to cater to the demand of the farmers for quality products for cultivation in this region.
  • In 2019, KWS SAAT SE & Co. KGaA announced that it has signed a binding agreement for the acquisition of Pop Vriend Seeds, a market leader in spinach seeds and offers a promising portfolio of other vegetable seeds. This agreement is aimed to strengthen the long-term position of KWS in the growing vegetable seeds market. 

Segments covered in the Report:

The global seed market has been segmented on the basis of crop, type, trait, and regions. Based on crop, the market is segmented into grains & cereals, pulses & oilseeds, cotton, vegetables, and others. The grains & cereals segment is further segmented into maize, rice, wheat, sorghum, and others. The pulses & oilseeds segment is further segmented into soybean, sunflower, canola, pulses, and others. Based on type, the market is segmented into conventional seeds and genetically modified seeds. Based on trait, the market is segmented into herbicide tolerance, insecticide resistance, and other traits. 

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Key questions answered in this research report:

• • At what pace is global seed market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in seed market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global seed market?
  • Which crop generated maximum revenues in 2019 and identify the most promising crop during the forecast period?
  • What are the various type areas of global seed market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Seed Market by Crop

• • Grains & Cereals
    • Maize
    • Rice
    • Wheat
    • Sorghum
    • Others
  • Pulses & Oilseeds
    • Soybean
    • Sunflower
    • Canola
    • Pulses
    • Others
  • Cotton
  • Vegetables
  • Others

Global Seed Market by Type

• • Conventional Seeds
  • Genetically Modified Seeds

Global Seed Market by Trait

• • Herbicide Tolerance
  • Insecticide Resistance
  • Other Traits

Global Seed Market by Region

• • North America Seed Market (Option 1: As a part of the free 25% customization)

    • North America Seed Market by Crop
    • North America Seed Market by Type
    • North America Seed Market by Trait
    • US Seed Market All-Up
    • Canada Seed Market All-Up

  • Europe Seed Market (Option 2: As a part of the free 25% customization)

    • Europe Seed Market by Crop
    • Europe Seed Market by Type
    • Europe Seed Market by Trait
    • UK Seed Market All-Up
    • Germany Seed Market All-Up
    • France Seed Market All-Up
    • Spain Seed Market All-Up
    • Rest of Europe Seed Market All-Up

  • Asia-Pacific Seed Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Seed Market by Crop
    • Asia-Pacific Seed Market by Type
    • Asia-Pacific Seed Market by Trait
    • China Seed Market All-Up
    • India Seed Market All-Up
    • Japan Seed Market All-Up
    • Rest of APAC Seed Market All-Up

  • RoW Seed Market (Option 4: As a part of the free 25% customization)

    • RoW Seed Market by Crop
    • RoW Seed Market by Type
    • RoW Seed Market by Trait
    • Brazil Seed Market All-Up
    • South Africa Seed Market All-Up
    • Saudi Arabia Seed Market All-Up
    • UAE Seed Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Seed Market All-Up

Major Players Operating in the Seed Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Bayer AG
  • Corteva
  • Syngenta International AG
  • KWS SAAT SE & Co. KGaA
  • Groupe Limagrain
  • BASF SE
  • Land O’Lakes, Inc.
  • TAKII & CO.,LTD.
  • Sakata Seed
  • Enza Zaden BV