DUBLIN–(BUSINESS WIRE)–The “Global Seeds Market by Type (Genetically Modified, Conventional), Trait (Herbicide Tolerance, Insect Resistance), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering
The global seed market is estimated to be valued at USD 63 billion in 2021 and is projected to reach USD 86.8 billion by 2026, recording a CAGR of 6.6%.
Factors such as increasing application of cereals & grains in the feed, food, and biofuels industry alongside growing technological advancements such as the adoption of hybridization and genetically modified seeds are propelling the growth of the seeds industry.
The recent COVID-19 pandemic is expected to impact the global seeds industry. Many countries have adopted several emergency measures to adapt to the COVID-19 crisis. These measures range from closing borders and public institutions, as well as isolating homes, communities, and total lockdown of regions and the entire state. These mitigation measures have resulted in various disruptions in the functioning of markets and supply chains for agricultural inputs and products.
Seeds are the starting point for agricultural production; therefore, during times of crisis such as the COVID-19 pandemic, seed delivery is among the essential services that must continue to operate to support the current and subsequent production cycles.
Cereals & grains is projected to be the largest segment during the forecast period
Cereals & grains is projected to hold the largest seeds market share since it is consumed on a large scale as a staple food. It is also being used in the food processing and feed industries. Some of the large producers such as China, India, US, and Brazil are catering to the growing international demand for cereal crops such as rice and corn. Increase in adoption of genetically modified seeds in corn is also one of the key factors for the growth of the cereals & grains segment.
The genetically-modified segment to witness the fastest growth during the forecast period
By type, the seeds industry is segmented into conventional and genetically modified. With the increasing demand from biofuel and feed industry, the requirement for genetically-modified seeds is growing in the market. Technological advancements and innovations in this market introduced hybridization technology and GM crops, which have been gaining importance among farmers, owing to the high yield, and increased pest, drought, and disease tolerance. The US, Brazil, Argentina, China, and India are some of the key markets for seeds, globally.
North America is estimated to account for the largest market share in the seeds market
In 2020, North America is estimated to account for the largest market owing to the growing adoption of GM crops such as corn, soybean, alfalfa, and canola in the region. Countries such as the US and Canada are among the major seed producers in the world. The region is also a host to some leading players in the seeds business such as Corteva Agriscience (US), and Land O’ Lakes (US).
Leading players profiled in this report:
- BASF SE(Germany)
- Bayer AG (Germany)
- Syngenta Group (Switzerland)
- KWS SAAT SE (Germany)
- Land O’ Lakes (US)
- Sakata Seed Corporation (Japan)
- Groupe Limagrain (France)
- Corteva Agriscience (US)
- UPL Limited (India)
- DLF (Denmark)
- Longping Hi-tech (China)
- Rallis India Limited (India)
- Enza Zaden (The Netherlands)
- Takii & Co. Ltd (Japan)
- Barenbrug Holding B.V (Netherlands)
- FMC Corporation (US)
- Mahyco (India)
- Imperial Seed Company (Canada)
- Allied Seed LLC (US)
- Ampac Seed (US)
- SL Agritech Corporation (Philippines)
- BrettYoung (Canada)
- Rasi Seeds (India)
- Vikima Seed A/S (Denmark)
- CN Seeds (UK)
For more information about this report visit https://www.researchandmarkets.com/r/xnxghf
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