Brandessence Market Research has published a new report titled According to the Study “Seed Market is valued at USD 61.84 Billion in 2021 and expected to reach USD 93.6 Billion by 2028 with a CAGR of 6.10% over the forecast period”.
Seed Market: Growing investment & development from developing countries in the agricultural sector are key drivers for the global seed market.
Seed is the unit of reproduction of a flowering plant, capable of developing into another such plant. The global seed industry, over the years, has evolved by adopting and innovating upon scientific advancements in variety development and quality seed production. The Global seed market has seen a considerable change in the past century, with farmers relying on purchasing seeds from markets with better qualities rather than relying on seeds from the previous season’s harvest. Growing developments in seed technology have increased the momentum of the industry’s growth, and the introduction of genetically modified crops has further boosted the global seed market.
Global Seed market report is segmented based on type, crop type, Seed Treatment, and by regional & country level. Based on crop type, the global Seed market is classified as Oilseeds, Cereals & grains, Fruits & vegetables, and Others. Based on type, the global Seed market is classified as Conventional seed and GM seed. Based on Seed Treatment, the global Seed market is classified as treated and non-treated.
agricultural setting more attention worldwide due to government and non-government authorities identifying a need to fast-track productivity to safeguard food security and improve nutrition with a respective growth population. Worlds Farmers necessary to produce around 1.4% more grain every year as per the estimation of the population which is representing an increase of approximately 30% by 2030. Growing demand for food across the world is driving the seeds market during the forecast period 2018-2024. In addition, Grain demand is expected to increase approximately by 30% at the end of 2025 i.e. additional 600 million tons. This demand is due to population growth, greater economic prosperity in emerging markets, and growing biofuel expansion. Apart from this, around 30% of this additional demand will come due to changes in habit of consumer diets as opposed to population growth.
North America occupies the largest market share due to the growing demand for genetically modified seeds. North America and Europe together account for more than 55for % market share for the Seed industry. Asia Pacific Seed market is expected to show an 8.0% CAGR during the forecast period. China accounted second largest seed market in the world, right behind the United States. However, India also accounted significant share of more than 4% of the global seed market.
|Historical data||2018- 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 61.84 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 93.6 Billion|
|Tables, Charts & Figures:||175|
|SEED Companies||Syngenta AG, Bayer Crop Science AG, E. I. Du Pont De Nemours and Company, Monsanto Company and The Dow Chemical Company KWS SAAT SA, Groupe Lima grain, Sakata Seed Corporation, Rallis India Limited, Land O’Lakes, Inc.|
|Segments Covered||By Type, By Crop Type, By Seed Treatment|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|