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The seeds market size is estimated to grow at a CAGR of 6.73% between 2022 and 2027. The market size is forecasted to increase by USD 27,603.76 million. The growth of the market depends on several factors, including the rising demand for biofuels, the increasing investments in agricultural research, and the focus on high-yielding crop varieties.
This seeds market report extensively covers market segmentation by product (conventional seeds and GM seeds), type (grain seeds and oil seeds, fruits and vegetable seeds, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising demand for biofuels is notably driving market growth, although factors such as the rise in seed prices may impede market growth. Our researchers analyzed the data with 2022 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. Biofuels are sourced from energy crops such as wheat, soybean, corn, rapeseed, and sugarcane. The focus on the use of biofuels has increased in recent years to reduce the global consumption of fossil fuels and limit pollution. Therefore, in developed countries, the consumption of conventional fuels is declining, whereas the consumption of alternative fuels is increasing.
According to the International Energy Agency (IEA), a 1.5% increase in the share of cropland for biofuels from 2004 to 2030 is expected globally. The land used for the production of biofuel feedstocks under these projections is anticipated to rise to 11.6% in the EU and 5.4% in the US and Canada by 2030. Certain countries in APAC, Latin America, and MEA are also expected to drive the demand for biofuels. With the increase in the demand for and production of biofuels, the demand for seeds required to produce biofuels is expected to rise. 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. Manufacturers across the world are developing innovative seed technologies to meet the growing demand for food production. These technologies improve production yields and nutrition profiles, decrease the costs of production, and offer value-added traits. Innovative seed technologies are tested to be in tandem with ongoing global trends.
The cultivation of GM seeds provides high resistance to pests and insects. For example, in East Africa, private seed companies are working on a new herbicide-coated maize seed variety to help the seed gain resistance against Striga, a parasitic weed. KSC sells StrigAway through a partnership with Feed the Future and the African Agricultural Technology Foundation (AATF). Such developments are expected to provide opportunities for the development of seed standards, which will drive the growth of the global seeds market. Most leading vendors have trademarked their seed technologies. These factors will spur the growth of the global seeds market during the forecast period.
The rise in seed prices may impede market growth. Seed breeding is expensive and increases the cost of seeds. The use of advanced technologies for cultivation increases the cost. For instance, each year, Monsanto increases the overall prices of its seeds by 5%-10% to provide seeds with modified traits at premium prices. The costs of commercialization of these products with international legal protection also increase seed costs.
The advent of genetically engineered crops has led to an increase in seed monopolization by large biotechnology companies, which drives seed costs. As a result, conventional and non-GM seeds have been pushed out of the market. Vendors that have a stronghold over the market can determine the prices of seeds. Moreover, the agricultural inputs sector has also been witnessing concentration. Hence, farmers in underdeveloped and developed countries find it difficult to purchase seeds, which affects the overall demand. Such factors will hamper the growth of the market during the forecast period.
The 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 growth strategies.
Global Seeds Market Customer Landscape
Vendors 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 seeds such as FiberMax Cotton seed, InVigor Canola seed, and Stoneville Cotton seed.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors 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 33,504.88 million in 2017 and continued to grow until 2021. 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. Conventional seeds 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.
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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 for seeds 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 seeds market in APAC during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the growth of the market in the region was affected by the outbreak of COVID-19. However, large-scale vaccination drives led to a decline in COVID-19 cases. As a result, production and supply chain activities resumed. The digitization of business processes, the increasing adoption of online sales channels, and the growing demand for hybrid seeds are expected to fuel the growth of the seeds market in APAC during the forecast period.
The seeds market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the seeds market as a part of the global agricultural products market under the global food products market of the global food, beverage, and tobacco market. The global agricultural products market covers crop growers, owners of plantations, and companies that produce and process foods but do not package and market them. Technavio calculates the global agricultural products market size based on the combined revenue generated by the vendors operating in the global agricultural products market. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Seeds Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.73% |
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Market growth 2023-2027 |
USD 27,603.76 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.7 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key countries |
US, China, India, France, and Brazil |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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, Groupe Limagrain Holding, Harris Seeds, JK Agri Genetics Ltd., KWS SAAT SE and Co. KGaA, LIDEA FRANCE, 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. |
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Market dynamics |
Parent market analysis, 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 |
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Customization purview |
If our 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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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