Global Seed Market - Forecasts From 2018 To 2023

Description

Global seed market is projected to witness a CAGR of 7.82% during the forecast period to reach a total market size of US$99.041 billion by 2022, increasing from US$67.970 billion in 2017. Growing global population and scarcity of resources such as land and water is leading to growing global food insecurity which is the major driver of the global seed market. Rising investments in R&D and agricultural sector have led to continuous product innovations, which has further enhanced the market growth. Increasing use of biofuels and rising demand for animal feed will bolster the growth of global seed market during the next five years. However, ban on the use of GMO crops in certain regions will hamstring the growth of global seeds market during the forecast period.

By Crop Type

The rise in production of cereals, especially in Asian countries augments the demand for seeds, both conventional and hybrid. Furthermore, growing meat consumption will further boost the demand for grains across the globe as livestock feed, thereby positively impacting the growth of cereals and grains segment.    

By Geography

Geographically, Asia Pacific is expected to grow at the highest CAGR over the projected period primarily because of the demand generated by rapidly developing countries like India and China. Increased demand for crop production due to rapidly growing population coupled with rising farm expenditure drive the global seeds market. However, North America dominated the market share in 2016 and is projected to dominate the global seed market till the end of forecasted period owing to a high rate of adoption of new technologies and strict agricultural regulations.

Competitive Insight

The global Seed market is well diversified owing to the presence of numerous regional, local and international players. The competition is expected to intensify further as a result of product extensions, technological innovations and mergers and acquisitions. The big international players are emphasizing on acquiring small local or regional firms to strengthen their market reach and offering. The major players discussed in this report include Monsanto, Groupe Limagrain, DowDupont, KWS SAAT SE, and ChemChina among others.

Segmentation

In the report, Global Seed market has been segmented by type, trait, crop type, and geography.  

By Type

Genetically-Modified

Conventional

By Trait

Herbicide-tolerance

Insecticide-resistance

Stacked traits

By Crop Type

Fruit and Vegetables

Oilseeds and Pulses

Cereals and grains

By Geography

North America

U.S.

Canada

Mexico

Others

South America

Brazil

Argentina

Others

Europe

UK

Germany

France

Others

MEA

Saudi Arabia

Israel

UAE

Others

Asia Pacific

Japan

China

India

Australia

Others