5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
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India
The market is estimated to grow at a CAGR of 9.9% in the forecasted period 2017-2022 and the market is estimated to reach a market value of USD 80.88 million by 2022. Increasing population and increasing demand for food grains is increasing the demand for the world commercial seed market.
Market Dynamics
The increasing global population is escalating the demand for food. The world commercial seed market is growing at a faster pace due to its higher performance in terms of yield and output in the time of shrinking arable land globally. In addition, rising demand for biofuels is exerting pressure on agriculture to increase production of crops such as corn, which is a key ingredient in ethanol production. While the demand for commercial seed will continue, due to high demand in developing regions and technological advancements, the regulatory and safety concerns over GM crops and high R&D cost may hinder market growth.
Market Segmentation
The global commercial seed market is broadly classified into conventional crops and biotechnology/GM crops, which are then further segmented into various crop types. Conventional crop seeds like cereal, grains, and oilseeds account for 52% of the market, while the market growth would be higher in the case of GM crops at a CAGR of 10.2%. Major GM crops identified here are soybean, corn, cotton, and canola. Soybean is the largest cultivated GM crop while the growth prospect of GM maize is high.
Accounting for around 30% share, North America is the largest regional market for commercial seed production globally. Owing to a high degree of regulatory interventions, the growth of European commercial seed market would remain moderate. The Asia-Pacific and South American regions would grow at comparatively higher pace with the positive growth prospects from countries like China, India, and Brazil.
Key Industry Players
Major industry players active in the commercial seed market globally are:
The market is fairly concentrated among five major players and the companies follow mergers and acquisitions to expand their business and operations.
Key Deliverables in the Study
5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
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