published Date SEP 2018

Seed Market Size worth 82.9 Billion by 2023. Hybrid Seeds hold the largest share in Seed Market.

According to the report published by Mordor Intelligence, the global seed market is expected to witness a CAGR of 7.1% during the forecast period, 2018-2023. The market was valued at USD 56020.0 million in 2017 and it is expected to reach a value of USD 82885.7 million by 2023. The market is facing a lot of issues with regard to GM crops, all around the globe. Various companies are facing opposition from different consumer groups, owing to which, governments of many countries have strictly banned the use of GM crops. Their presence is also highly monitored and is subject to excessive approvals, even where they are still allowed.

The report contains a detailed analysis on various parameters of the global seed market. The market has been segmented by product, by crop, and by geography. For understanding the competitiveness of the business environment, Porter’s five forces analysis is also conducted. The impact of various technologies on the global seed industry has also been included in the report.

To know more about the segmentation of the seed industry, click on the below link:

https://www.mordorintelligence.com/industry-reports/seeds-industry

By product, the global seed industry has been segmented into hybrid seed, GM seed, and varietal seed. Hybrid seed forms the largest market segment, with a value of USD 28,352.1 million in 2017, and is projected to witness the highest CAGR of 8.4% during the forecast period, followed by GM seed and varietal seed, respectively. The higher CAGR for hybrid seed is attributed to its global acceptance, due to its higher yield and productivity.

By crop, the industry has been segmented into grains and cereals, oilseeds, vegetable seed, and other seeds. The vegetable seed segment is expected to be the fastest growing during the forecast period, recording a CAGR of 8.8%, followed by the oilseed crops segment. With the demand for biofuels increasing, the oilseed market is witnessing rapid growth.

By geography, the industry has been segmented into North America, Europe, Asia-Pacific, South America, and Africa. North America is the largest commercial seed market, accounting for more than 35% of the global market share. However, Asia-Pacific is expected to be the fastest growing seed market, globally, witnessing a CAGR of 8.4%, during the forecast period. Asian countries are increasingly positioning themselves toward increased adoption of GM crops and this is acting as a potential acceleration for the GM technology and its acceptance in the region.

Seed Market Dynamics

Rapid adoption of biotech crops, increasing demand for animal feed, and growing demand for grains, oils and vegetables, and increasing use of biofuels are the major factors driving the global seed industry. However, government regulations and long GM approval timeline, rising concerns over GM seed and overall time involved in the development of new traits, are the likely factors constraining the market. The high growth potential in the developing and emerging markets and also in the untapped regions serves as an opportunity for the market players in this market.

According to Mordor Intelligence research and analysis, the market for the global seed industry is highly consolidated, with few top players enjoying the majority market share. These include, Monsanto, Syngenta AG, Bayer CropScience, Dow AG, DuPont, Land O’ Lakes, KWS AG, etc.

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