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The global seeds market size is estimated to grow by USD 29.53 billion at a CAGR of 6.75% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. There is a rising demand for biofuels, prompting increased cultivation of energy crops and driving the demand for seeds tailored for biofuel production. Furthermore, substantial investments in agricultural research are fueling innovations in seed technology, leading to the development of high-yielding crop varieties that can thrive in various environmental conditions. These advancements are not only addressing food security concerns but also contributing to sustainable agriculture practices worldwide. As a result, the market is witnessing steady expansion, with a focus on meeting the evolving needs of the agriculture industry and supporting global efforts towards renewable energy production. This research and growth report also includes key market drivers, trends, and challenges during the forecasted period.
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The seeds market encompasses a wide range of products, including soy meal and oilseed meal, cereals, pulses, and plant-based protein companies. These seeds serve various agricultural purposes and are essential for the production of nutrition-giving crop varieties such as wheat, maize, cotton, soybeans, canola, alfalfa, squash, eggplant, sugar beets, potatoes, papaya, and apples. The FAO reports an accommodative regulatory stance towards seed coating, seed pelleting, and the use of premium seeds, particularly in recent crop seasons. Biotechnology plays a significant role in the seeds industry, with stress-tolerant and biotech crop varieties increasingly adopted for natural resource conservation and improved yield. Key seed varieties include seed coating and pelleting technologies, as well as advanced biotech crops like maize, cotton, soybeans, canola, and others. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for biofuels is notably driving market growth. The seeds market encompasses a wide range of agricultural products, including soybean meal and oilseed meal, cereals, pulses, and various plant-based protein sources. These seeds are utilized for diverse purposes, such as animal feed, oil production, and human consumption. The FAO reports that major seed crops include wheat, which is grown on wasteland and used for both agricultural and nutritional purposes. The accommodative regulatory stance towards seed coating and pelleting has led to the widespread use of premium seeds in modern agriculture. Recent crop seasons have seen an increase in demand for seed varieties that are stress-tolerant and nutrition-giving, as farmers seek to maximize yields and minimize losses.
Moreover, biotechnology plays a significant role in seed innovation, with companies developing new seed varieties that offer improved resistance to pests and environmental stressors. Natural resources, such as water and land, are essential for seed production. However, the use of harmful chemicals in seed treatment and production has raised concerns about potential health effects and the impact on the environment. The organic trend in agriculture has led to a growing demand for seeds that are free from dangerous chemicals and genetically modified organisms (GMOs). Major seed crops include maize, cotton, soybeans, canola, alfalfa, squash, eggplant, sugar beets, potatoes, papaya, and apples. Unfortunately, the seeds market is also plagued by counterfeit products and false hybrid seeds, which can result in increased costs and decreased yields for farmers. To ensure the quality of seeds, it is essential to work with reputable suppliers and conduct thorough testing and certification processes. Therefore, the rising demand for biofuels will fuel the growth of the market during the forecast period.
Innovations in seed technology are a key trend shaping the market. The seeds market encompasses a wide range of agricultural products, including soybean meal and oilseed meal, cereals, pulses, and various plant-based protein sources. These seeds are utilized for diverse purposes, such as animal feed, oil production, and human consumption. The FAO reports that major seed crops include wheat, which is grown on wasteland and used for both agricultural and nutritional purposes. The accommodative regulatory stance towards seed coating and pelleting has led to the widespread use of premium seeds, particularly in the context of recent crop seasons and seed varieties.
Moreover, biotechnology plays a significant role in the seeds market, with stress-tolerant and nutrition-giving crop varieties being developed to address the challenges of natural resources depletion and climate change. Major crops in the seeds market include maize, cotton, soybeans, canola, alfalfa, squash, eggplant, sugar beets, potatoes, papaya, and apples. However, the market is not without challenges, such as the proliferation of counterfeit products and false hybrid seeds, which can lead to increased costs and quality concerns. The organic trend in food production has also influenced the seeds market, with a growing demand for seeds that do not contain harmful health effects or dangerous chemicals. As such, innovation in the field of quality seed production remains a priority for plant-based protein companies and other stakeholders in the agricultural sector. These factors will spur the market growth and trends during the forecast period.
The rise in seed prices may impede market growth. The seeds market encompasses a wide range of agricultural products, including soybean meal and oilseed meal, cereals, pulses, and various plant-based protein sources. These seeds are utilized for diverse purposes, such as animal feed, oil production, and human consumption. The FAO reports that major seed crops include wheat, which is grown on wasteland and used for both agricultural and nutritional purposes. The accommodative regulatory stance towards seed coating and pelleting has led to the widespread use of premium seeds in modern agriculture. Recent crop seasons have seen an increase in demand for seed varieties that are stress-tolerant and nutrition-giving, as farmers seek to maximize yields and minimize losses.
Moreover, biotechnology plays a significant role in seed innovation, with companies developing new seed varieties that offer improved resistance to pests and environmental stressors. Natural resources, such as water and land, are essential for seed production. However, the use of harmful chemicals in seed treatment and production has raised concerns about potential health effects and the impact on the environment. The organic trend in agriculture has led to a growing demand for seeds that are free from dangerous chemicals and genetically modified organisms (GMOs). Major seed crops include maize, cotton, soybeans, canola, alfalfa, squash, eggplant, sugar beets, potatoes, papaya, and apples. Unfortunately, the seeds market is also plagued by counterfeit products and false hybrid seeds, which can result in increased costs and decreased yields for farmers. To ensure the quality of seeds, it is essential to work with reputable suppliers and conduct thorough testing and certification processes. Such factors will hamper the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BASF SE - The company offers FiberMax Cotton seed, InVigor Canola seed, and Stoneville Cotton seed.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the conventional seeds segment will be significant during the forecast period. Unlike GM seeds, conventional seeds are not hybridized. They are grown in conventional systems using synthetic fertilizers and harsh pesticides.
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The conventional seeds segment was valued at USD 35.61 billion in 2018. In regions such as North America and the European Union (EU), GM foods were considered unsafe. Therefore, some countries introduced a partial ban on the import of grains produced from GM seeds. However, these factors will be beneficial for the conventional seeds segment growth during the forecast period. The demand for organic farming is growing, which is increasing the demand for conventional seeds. They are typically grown through natural breeding methods. They are also more affordable and have better adaptability to different growing conditions. Therefore, the demand for conventional seeds will increase during the forecast period, which will drive the growth of the segment during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China and India have the largest populations in the world. Hence, they are major markets in the region. These countries have large areas of agricultural land, and the high food consumption is high. Governments of these countries are taking initiatives to improve the quality of seeds and productivity. In addition, the issue of food security drives the demand for hybrid seeds with modified characteristics. These factors will drive the growth of the market in APAC during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Genetically Modified (GM) Seeds Market: Genetically Modified (GM) Seeds Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, Canada, India, Brazil, Argentina - Size and Forecast
Soybean Seed Market: Soybean Seed Market Analysis North America, APAC, South America, Europe, Middle East and Africa - US, China, India, Brazil, Argentina - Size and Forecast
Vegetable Seeds Market: Vegetable Seeds Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, France, Brazil - Size and Forecast
The market is experiencing a transformative shift driven by innovations in improved seed varieties, which promise enhanced yields and nutritional value. With advancements in genetic engineering and the advent of genetically modified (GM) seeds, the industry is refining oilseeds to cater to the animal feed industry, emphasizing high protein content in vegetable protein meals. Key crops like rice, corn, and oilseed crops such as groundnut, rapeseed, and sunflower are undergoing genetic modifications for traits like drought tolerance and insect resistance, ensuring resilience against varying climatic conditions in both irrigated and rain-fed areas.
Moreover, seed improvement strategies leverage molecular breeding and gene-tagged markers to introduce desired genes into progenies, complementing traditional breeding methods. The market landscape depends on the crop yield, improved yields, enhanced nutritional value, hybrids, open-pollinated varieties, global seed market, new plant breeding techniques, new plant technologies, Embryonic plant structures, Reproductive structures, Flowering plants, Angiosperms, Plant species. However, the industry faces challenges such as falsified seeds and counterfeit labeling, necessitating stringent measures to safeguard crop yields and overall plant health. Advancements in molecular markers and gene selection processes are driving the development of high-performance seeds tailored for specific food and feed industries needs. Additionally, biotic and abiotic stresses are addressed through the introduction of non-transgenic hybrid seeds and organic products, promoting sustainable farming practices and ensuring genetic diversity in agriculture.
Market Scope |
|
Report Coverage |
Details |
Page number |
142 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.75% |
Market growth 2024-2028 |
USD 29.53 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.72 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, Canada, China, France, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adaptive Seeds LLC, Baker Creek Heirloom Seeds, BASF SE, Bayer AG, Corteva Inc., East West Seed Group, Florimond Desprez Co., Fruition Seeds LLC, Harris Seeds, JK Agri Genetics Ltd., KWS SAAT SE and Co. KGaA, LIDEA France, Limagrain, Rijk Zwaan Zaadteelt en Zaadhandel BV, Royal Barenbrug Group, Sakata Seed Corp., Seed Needs LLC, Syngenta Crop Protection AG, Takii and Co. Ltd., and UPL Ltd. |
Market dynamics |
Parent market analysis, Market Forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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