With 6.5% CAGR, Global Seed Market Size & Share Worth USD 107.8 Billion by 2030 | Seed Industry Trends, Demand, Value, Manufacturers, Analysis & Forecast Report by Zion Market Research
NEW YORK, Jan. 17, 2023 /PRNewswire/ -- As per Zion Market Research study, The global seed market size was worth around USD 61.2 billion in 2021 and is predicted to grow to around USD 107.8 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030.
Seed Market: Overview
Seed firms manufacture and sell seeds for flowers, vegetables, and fruits to amateur growers. The two basic categories of seeds accessible in the global seed market are commercial seeds and genetically modified seeds. Genetically modified seeds have better genetic material, are more resistant to diseases and pests, and produce a higher yield. The primary goal of the seed market is to meet the needs of farmers by providing better varieties of seeds and high-quality seeds at reasonable costs. The seed market is expanding due to the rising population and technological improvements.
Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.zionmarketresearch.com/sample/seed-market
Our Free Sample Report Includes:
- 2022 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 195 + Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes an Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Zion Market Research methodology
Key Industry Insights & Findings of the Seed Market Reports:
- As per the analysis shared by our research analyst, the global seed market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2022-2030).
- In terms of revenue, the global seed market size was valued at around USD 61.2 billion in 2021 and is projected to reach USD 107.8 billion, by 2030.
- The increasing knowledge associated with the benefits of consuming vegetables is expected to fuel the market growth during the forecast period.
- Based on the trait, the herbicide-tolerance segment is expected to grow significantly during the forecast period.
- Based on the type, the genetically modified segment is expected to be a rapidly growing category in the seed market over the forecast period.
- Based on region, North America is expected to hold a significant market share during the forecast period.
Zion Market Research published the latest report titled "Seed Market By Trait (Herbicide-tolerance, Insect-resistance, and Others), By Type (Conventional and Genetically Modified), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030." into their research database.
Industry Dynamics:
Seed Market: Growth Drivers
- Increasing knowledge associated with the benefits of vegetable consumption to drive the market expansion.
The increasing knowledge associated with the benefits of vegetable consumption across the globe is expected to drive the growth of the global seed market during the forecast period. For instance, according to the World Health Organization, a lack of fruit and vegetable consumption causes approximately 1.7 million deaths worldwide. In addition, a lack of fruits and vegetables is one of the top ten risk factors for world mortality. Thus, adding fruits and vegetables to the daily diet may aid in the prevention of major non-communicable diseases. Growers all around the world are focusing on expanding vegetable production through the use of diverse agricultural inputs, including high-quality vegetable planting seeds.
Seed Market: Restraints
- Changing climate conditions to limit the market growth.
A major global concern for agriculture productivity is climate change. Crop output is strongly impacted by climatic changes, and crops are vulnerable to pests and disease. This has an impact on crop health and changes how farming is done. The seasonal effects of temperature, precipitation, and humidity on disease and their formation and growth on seed material, which causes significant crop loss, have also been demonstrated by decades of research. Thus, the changing climatic condition is a major restraining factor for the market growth.
Directly Purchase a Copy of the Report @ https://www.zionmarketresearch.com/buynow/su/seed-market
Seed Market: Opportunities
- Increasing demand for organic seeds provides a lucrative opportunity for the market expansion.
The increasing demand for organic seeds is expected to provide a lucrative opportunity for global seed market expansion during the forecast period owing to the various advantages of organic products. Expanding organic seed systems has the potential to provide economic prospects for farmers who effectively grow organic seed on their farms. The economic benefits include being able to sell organic seed commercially, becoming more seed self-sufficient and lowering input costs, and lowering financial risks by having seed that is better suited to their farm. For instance, according to the International Federation of Organic Agriculture Movements (IFOAM), the global organic food sector is valued at approximately USD 112 billion. The global organic food seeds market was worth $355 million in 2020 and is predicted to expand to $480 million by 2025, at a 6.2% CAGR.
Seed Market: Challenges
- Commercialization of fake hybrid seeds acts as a major challenge for the market growth.
The commercialization of fake hybrid seeds acts as a major challenge for the market expansion over the forecast period. For instance, the International Seed Federation claims that unlawful seed practices, such as the use of counterfeit seeds, counterfeit seeds, false seed labels, stolen intellectual property, and regulatory violations, have increased. Thus, acting as a major challenging factor for market growth.
Global Seed Market: Segmentation
- The global seed market is segmented based on the trait, type, crop type, and region.
Based on the trait, the global market is bifurcated into herbicide-tolerance, insect-resistance, and others. The herbicide-tolerance segment is expected to grow significantly during the forecast period owing to its various advantages such as excellent weed control, flexibility (possible to control weeds later in the plant growth), low toxicity, and others. For instance, according to an ASA study on tillage frequency on soybean fields, a large percentage of farmers implemented the "no-tillage" or "reduced tillage" practice after planting herbicide-tolerant soybean varieties. This basic weed management strategy saved over 234 million gallons of fuel while preserving 247 million tons of valuable topsoil. Moreover, according to a recent USDA analysis, herbicide use on GE corn jumped from around 1.5 pounds per planted acre in 2001 to more than 2.0 pounds per planted acre in 2010. During the same period, herbicide use on non-GMO corn remained largely stable. Thus, these facts support the market growth over the projected period.
Based on the type, the global seed is categorized into conventional and genetically modified. The genetically modified segment is expected to be a rapidly growing category in the seed market over the forecast period. Genetically modified seeds enable farmers to reduce their running costs significantly, for example, agrochemicals treatments, while guaranteeing a much more abundant harvest. They are therefore sold at a significantly higher price than conventional seeds. However, the conventional segment is expected to grow at a steady rate during the forecast period.
Get More Insight before Buying@: https://www.zionmarketresearch.com/inquiry/seed-market
List of Key Players in Seed Market:
- Monsanto Co.
- Syngenta Int. AG
- Bayer CropScience AG
- Vilmorin & Cie SA
- Dow AgroSciences
- KWS SAAT AG
- Sakata Seed Corp.
- Takii & Co. Ltd.
- AgReliant Genetics LLC
- DLF-Trifolium
- Groupe Limagrain
- Land O'Lakes Inc.
- Rallis India Limited
- E. I. du Pont de Nemours
Key questions answered in this report:
- What are the growth rate forecast and market size for Seed Market?
- What are the key driving factors propelling the Seed Market forward?
- What are the most important companies in the Seed Market Industry?
- What segments does the Seed Market cover?
- How can I receive a free copy of the Seed Market sample report and company profiles?
Report Scope:
Free Brochure: https://www.zionmarketresearch.com/requestbrochure/seed-market
Recent Developments
- In September 2021, Bayer announced that it would add organically produced seeds to its variety of vegetable seeds under the new Vegetables by Bayer brand. The launch will center on the production of three essential greenhouse and glasshouse crops—tomato, sweet pepper, and cucumber—that are certified organic. In 2023, tomato rootstock variants will come next. Varieties will be offered for sale under the vegetable seed labels Seminis and De Ruiter.
- In February 2021, Kalera, one of the fastest-growing U.S. vertical farming companies in the world and a leader in plant science for producing high-quality products in controlled environments, announced the acquisition of Vindara Inc., the first company to develop seeds specifically designed for use in vertical indoor farm environments as well as other controlled environment agriculture (CEA) farming methods. The acquisition of Vindara complements Kalera's overall science-driven and innovation-leading value proposition.
Regional Dominance:
- North America is expected to hold the largest market share over the forecast period.
North America is expected to hold the largest global seed market share over the forecast period. The growth in the region is attributable to the presence of leading biotech companies and high investment in research and development. For instance, according to the US Department of Agriculture, From $5.6 billion in 1994 to $11 billion in 2010, the aggregate total of private R&D spending in the seven agricultural input industries (crop chemicals, crop seeds & biotech traits, fertilizer, farm machinery, food animal health, animal nutrition, and animal genetics) climbed by an average annual growth rate of 3.6 percent (or, in inflation-adjusted dollars, by 1.4 percent per year). Between 1994 and 2010, R&D spending increased mostly due to improvements in crops, whereas spending on animal-related inputs remained practically steady after accounting for inflation. Crop seed and biotechnology traits experienced the fastest growth in agricultural R&D between 1994 and 2010. Spending on seed-biotechnology research expanded very quickly in the 1990s and between 2007 and 2010. In addition to this, the largest seed market is in the United States, where corn contributes significantly and accounts for 22.5% of that market. The use of biotech crops is primarily accountable for this. Thus, this will drive market growth over the projected period.
Besides, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Among important crops like rice, maize, and vegetables, the adoption of hybrids has increased, and seed replacement rates have risen. The region's hybrid rice still has excellent growth prospects. One of the biggest producers of rice worldwide is China. It recently began supplying foreign nations with rice seeds. For instance, in 2020 it helped Pakistan assure its grain supply by exporting 500 metric tons of hybrid rice seeds from a seed firm in Jiangsu province, east China. These seeds will be dispersed over an area of around 33,333 acres. Moreover, one of the most developed seed industries in the region is of India. Both the public and private sectors are crucial to the distribution and manufacturing of seeds. Growing R&D expenditures, accelerated adoption of hybrid seeds enhanced with various technology elements, such as seed treatments, and expanding international trade are the main drivers of India's private sector expansion. Corn (60%) and cotton (90%) are the two crops with the highest hybrid seed penetration in the nation. However, key grains like paddy and wheat still have relatively low penetration (less than 5%). Furthermore, vegetable seed production is boosted by the rising demand for processed vegetables in both residential households and the foodservice sector. India is renowned throughout the world as one of the top exporters of vegetable seeds.
Global Seed Market is segmented as follows:
Seed Market: By Trait Outlook (2022-2030)
- Herbicide-tolerance
- Insect-resistance
- Others
Seed Market: By Type Outlook (2022-2030)
- Conventional
- Genetically Modified
Seed Market: By Crop Outlook (2022-2030)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
Seed Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Press Release for Seed Market: https://www.zionmarketresearch.com/news/global-seed-market
Browse Other Related Research Reports from Zion Market Research
- Brain Health Supplements Market - Global Industry Analysis : The global brain health supplements industry size was nearly $7.69 billion in 2021 and is set to increase to about $15.75 billion by 2030 with a CAGR of nearly 8.4% between 2022 and 2030.
- Geotextile Fabric Market - Global Industry Analysis : The global geotextile fabric market size was worth around USD 6.55 Billion in 2021 and is predicted to grow to about 12.04 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.3% between 2022 and 2030.
- Airsoft Guns Market - Global Industry Analysis : The global airsoft guns market size was nearly $1,803 million in 2021 and is set to increase to about $3,523 million by 2030 with a CAGR of nearly 7.9% between 2022 and 2030.
Browse through Zion Market Research's coverage of the Global Consumer Goods Industry
Follow Us on: LinkedIn | Twitter | Facebook
About Us
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, and company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +1 (844) 845-5245
USA/Canada Toll-Free No. +1 (855) 465-4651
Email: [email protected]
Website: https://www.zionmarketresearch.com/
Logo: https://mma.prnewswire.com/media/1605489/Zion_Market_Research_Logo.jpg
SOURCE Zion Market Research
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article