Market Size of south america seed Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 8.24 Billion |
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Market Size (2030) | USD 11.94 Billion |
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Largest Share by Breeding Technology | Hybrids |
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CAGR (2024 - 2030) | 6.36 % |
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Largest Share by Country | Brazil |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Seed Market Analysis
The South America Seed Market size is estimated at 8.24 billion USD in 2024, and is expected to reach 11.94 billion USD by 2030, growing at a CAGR of 6.36% during the forecast period (2024-2030).
8.24 Billion
Market Size in 2024 (USD)
11.94 Billion
Market Size in 2030 (USD)
6.62 %
CAGR (2017-2023)
6.36 %
CAGR (2024-2030)
Largest Market by Crop Family
41.40 %
value share, Oilseeds, 2023
The high share of the oilseeds segment is driven by the large area under soybean cultivation in the region and the suitable climatic conditions for oilseed crops.
Largest Market by Country
51.12 %
value share, Brazil, 2023
The high share of Brazil is mainly because of the highest area under cultivation in the region, supported by the high seed replacement rate.
Fastest-growing Market by Crop Family
6.84 %
Projected CAGR, Oilseeds, 2024-2030
The growth of the oilseeds segment is driven by the adoption of transgenic soybean hybrids and increasing demand for soybeans from the food and feed industries.
Fastest-growing Market by Country
7.32 %
Projected CAGR, Brazil, 2024-2030
Brazil's fastest growth rate is associated with the quick adoption of modern technologies to meet the increasing demand in the domestic and international markets.
Leading Market Player
16.44 %
market share, Bayer AG, 2022
Bayer AG has invested heavily in product innovations. It has introduced new technology traits (Intacta 2 Xtend), such as herbicide-tolerant soybean varieties in the region.
Highest number of GM seeds approved with different applications such as food and animal feed industry is anticipated to help the growth of row crops, especially corn and Alfalfa
- In 2022, hybrids had a larger share in the South American seed market as growers prefer hybrids to earn high profits and obtain higher yields. South America has a larger share of transgenic hybrid seeds due to highly profitable crops such as corn, soybean, and alfalfa approved for cultivation in the region.
- Corn is the largest crop segment among hybrids as it is a high-profit crop, and growers want a higher yield with a high nutritional value and seeds that adapt quickly to different soil and weather conditions. Moreover, the higher usage in biofuel production is helping in the adoption of hybrid corn seeds.
- Wheat is estimated to be the fastest-growing sub-segment in the South American hybrid seed market at a CAGR of 9.9% during the forecast period as it is exported to other countries in Europe and Africa due to the war between Russia and Ukraine. European countries also use wheat to make pizza bases. Therefore, the demand for wheat seeds is expected to grow at a faster rate.
- Alfalfa is projected to be one of the fastest-growing forage segments at a CAGR of 3.1% during the forecast period, as both transgenic and non-transgenic seeds are approved for cultivation in South America. It is used as feed due to its high protein content and is easily digestible by livestock. It has herbicide tolerance that offers protection against weeds. Therefore, these uses are anticipated to help in increasing the sales of Alfalfa.
- The hybrids segment is projected to grow in the region, with an anticipated CAGR of 6.6% during the forecast period because of higher resistance to diseases and pests and wider adaptability.
Understand The Key Trends Shaping This Market
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Brazil dominates the South American seed market due to availability of improved seeds and new technology to increase the production of crops
- In 2022, South America accounted for 11.1% of the global seed market. This is because the region has abundant natural resources, diverse climates, technological adoption, and global export potential. This growing demand is driving the seed market in the region.
- The protected cultivation segment accounted for only 0.01% of the South American seed market in 2022 because medium-scale and small farmers cannot have a high initial investment, and there is no government support for setting up new greenhouse structures in South American countries. Therefore, it can restrain the growth of the protected cultivation segment during the forecast period.
- South America's adoption rate of hybrids is estimated to grow faster than open-pollinated seed varieties between 2023 and 2030 because of their ability to increase the yield by 10%-15%, good quality, and better quality return on investment.
- Brazil is the leading country in South America because of the availability of improved seeds, highly profitable crops such as corn and tomato grown in the country, and new technology to increase the production of crops. Therefore, it is anticipated that the market will increase during the forecast period in South America with a CAGR of 7.4%. In 2022, Argentina accounted for 20.8% of the South American seed market. Argentina is emerging in agriculture, which will increase the demand for seeds to meet the demand of farmers to grow good-quality crops.
- Therefore, the aforementioned factors, such as higher yield, new technologies, and government initiatives to provide loans at low-interest rates, are anticipated to augment the South American seed market during the forecast period.
