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Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Seeds Market is segmented By Product (Transgenic Hybrids, Non-Transgenic Hybrids, and Open-Pollinated Varieties), By Crop Type (Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits & Vegetables, and Other Crop Types), and by Geography (North America, Europe, Asia-Pacific, South America, and Africa).

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6.2 %

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Market Overview

  • The Global Seed Market is expected to grow at a CAGR of 6.2% over the forecast period (2021-2026). The COVID-19 pandemic has seriously affected the production, certification, distribution, and cost of seeds in the initial months, which play a fundamental role in developing resilient agricultural sectors and food systems in the least developed countries. Shortage of personnel available for production, transportation, and documentation processes and a contraction in the market for plants and seeds had created problems in terms of the production of seed for international trade, as well as access to high-quality seed of modern varieties for domestic agriculture.
  • Growing demand for grains, oils, and vegetables, and rapid adoption of biotech crops, along with the decreasing per capita farmland, are the major drivers for the market. The need for producing more from the decreasing per capita arable land to get higher returns can be possible with the use of HYVs and hybrid varieties. This trend has been encouraging farmers to shift their focus from conventional seed sources to packaged seeds that promise better returns.
  • Hybrid seed exhibits a higher demand, as compared to varietal seeds in the market, owing to its built-in genetic buffering to withstand the biotic and abiotic stresses, such as moisture stress and salinity.
  • In 2020, North America was the largest geographical segment of the market studied. The growing demand for grains, oils, and vegetables is a significant driver for the seeds market. The United States is the major market for seeds in the region. Asia-Pacific is the fastest growing and second-largest market for seeds. In Asia, the demand for food has increased exponentially over the past years. For the purpose of meeting this demand, the enhancement of crop yield has become a necessity, thus, boosting the market studied.
  • The leading seed companies, like Bayer CropScience, Corteva AgriScience, and Syngenta, are dominating the market by giving more importance to seed production that are drought tolerant, heat tolerant , disease tolerant, etc.

Scope of the Report

A seed is the ripened fertilized ovule of a flowering plant containing an embryo and capable normally of germination to produce a new plant. For the purpose of this report, seeds have been defined as the seeds for sowing at the farmer level. In this report market sizing has been at the farmer level.

The report provides an in-depth analysis of various parameters of the seeds market. The market has been segmented based on product into transgenic hybrids, non-transgenic hybrids, and open-pollinated varieties. By crop type, the market is segmented into grains and cereals, pulses and oilseeds, commercial crops, fruits & vegetables, and other crop types. The report further segments the market by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

Product
Transgenic Hybrids
Non-Transgenic Hybrids
Open-Pollinated Varieties
Crop
Grains & Cereals
Pulses & Oilseeds
Commercial Crops
Fruits & Vegetables
Other Crop Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
France
Germany
Russia
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa

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Key Market Trends

Need for Improving Productivity amid Growing Demand for Food Crops

Grains constitute a major portion of world food demand (49%) and will remain so till 2050. According to the OECD-FAO report, global cereal consumption is projected to increase from 2.6 billion metric ton in 2018 to 2.9 billion metric ton in 2027. This is attributed to the growing demand for cereals for food and feed purposes. The per capita food consumption of cereals is anticipated to increase at a faster pace compared to the previous decade, as higher per capita use of maize, rice, and other coarse grains is only partly offset by slower growth for wheat.

 Across major agricultural countries such as the United States, China, India, and Brazil, farmers are increasingly adopting transgenic seeds for both yield benefits and other non-yield traits. For instance, 92% of the area under cotton in India was sown with transgenic cotton with insect tolerance trait. Thus, in order to substantiate the increasing demand for grains, oils, and vegetables, governments of various countries have been promoting sustainable farming practices, thereby, bolstering the adoption of commercial seeds during the forecast period.

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Asia-Pacific is the Fastest Growing Region

Asia-Pacific, dominated by the two major agricultural countries, India and China, is the fastest-growing geographical segment in the global seed market. The region is witnessing increased adoption of hybrids and increasing seed replacement rates in key crops such as rice, maize, and vegetables. Growth prospects remain high for hybrid rice in the region. China is one of the major rice producers globally. In recent years, it started exporting rice seeds to other countries. For instance, in 2020, it exported a total of 500 metric tons of hybrid rice seeds from a seed company in east China’s Jiangsu province to Pakistan, to help ensure the country’s grain yield this year. It is estimated that about 33,333 hectares of land will be planted with those seeds.

Furthermore, increasing demand for animal feed has been the major driver for the growth of the maize segment of the market in the region. Moreover, increasing demand for processed vegetables in domestic households and the foodservice industry is giving a boost to the vegetable seed industry

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Competitive Landscape

The global seed market is a consolidated market. The major players in the market are Bayer Crop Science SE, Syngenta International AG, Corteva AgriScience, Groupe Limagrain, and KWS SAAT SE & Co. KGaA, among others. The major players in the market have a large geographical presence and a highly diversified product portfolio. These players focus on R&D, a large product portfolio, a wide geographical presence, an aggressive acquisition strategy.

Recent Developments

The key players in the market are aggressively expanding their presence in terms of geography and product portfolio. For instance, in addition to the agreement signed in October 2017, BASF has signed an agreement in 2018 to purchase further businesses and assets, which Bayer offered to divest in the context of its planned acquisition of Monsanto. The expanded scope includes Bayer’s entire vegetable seeds business under the global trademark Nunhems.

Furthermore, Bayer unveiled four new varieties of Seminis® vegetable seeds during the Pragathi Diwas event held in Bengaluru, India in Jan 2021. These varieties include ‘Anshuman’ in tomato, ‘SVHA9093’ in hot pepper, ‘Bazlet’ in cucumber, and ‘Himgauri’ in cauliflower. These varieties will be commercially launched in 2021.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions & Market Definition

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Transgenic Hybrids

      2. 5.1.2 Non-Transgenic Hybrids

      3. 5.1.3 Open-Pollinated Varieties

    2. 5.2 Crop

      1. 5.2.1 Grains & Cereals

      2. 5.2.2 Pulses & Oilseeds

      3. 5.2.3 Commercial Crops

      4. 5.2.4 Fruits & Vegetables

      5. 5.2.5 Other Crop Types

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Germany

        5. 5.3.2.5 Russia

        6. 5.3.2.6 Italy

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Bayer CropScience SE

      2. 6.3.2 Syngenta International AG

      3. 6.3.3 Corteva Agriscience

      4. 6.3.4 Groupe Limagrain

      5. 6.3.5 KWS SAAT SE & Co. KGaA

      6. 6.3.6 UPL Limited

      7. 6.3.7 BASF SE

      8. 6.3.8 Land O'Lakes, Inc.

      9. 6.3.9 Sakata Seed

      10. 6.3.10 Takii Seed

      11. 6.3.11 East-West Seed International

      12. 6.3.12 Rijk Zwaan Zaadteelt en Zaadhandel B.V.

      13. 6.3.13 DLF Seeds And Science

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 8. IMPACT OF COVID-19 ON THE MARKET

** Subject to Availability

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