Global seed market is projected to witness a CAGR of 7.04% during the forecast period to reach a market size of US$108.05 billion by 2023, increasing from US$71.85 billion in 2017. Burgeoning global population is putting pressure on limited available natural resources is leading to the global food insecurity. This factor is significantly driving the demand for various food crops which, in turn, is fueling the growth of global seed market. Increasing investments in R&D to develop seeds that are drought- and climate-resistant along with having higher yield and packed with more nutrients is further driving the growth of global seed market. Another factor that is augmenting the demand for different seeds is growing usage of biofuels and rapidly growing demand for animal feed due to increasing meat and dairy product consumption across the globe. However, ban on the use of GMO crops in certain regions is hampering the growth of global seeds market.
By crop type, the global seed market is segmented as fruits and vegetables, oilseeds and pulses, and cereals and grains. Growing production of cereals, especially in Asian countries, is augmenting the growth seed market across this crop type segment. Furthermore, growing meat consumption and spurring demand for various dairy products is further boosting the demand for grains across the globe as livestock feed, thereby positively impacting the growth of cereals and grains seed segment.
Cereals and grains seed market is segmented as North America, South America, Europe, Middle East and Africa, and Asia-Pacific. FAO’s latest estimates projects the significant growth of global cereals and grains market owing to rising demand for animal feed and growing global population. APAC regional market is projected to grow at the highest CAGR during the forecast period as population increase and expanding urbanization is creating need for more domestic capacity in emerging APAC countries including China and India. In addition to domestic demand, high demand for cereals and grains from major countries is also contributing to the growth of APAC cereals and grains seed market. North America will witness a considerable growth of cereals and grains seed market owing to high influence of high-protein rich diet along with rising exports of cereals and grains across the global market.
Geographically, Asia Pacific Seed market will witness the highest CAGR over the projected period primarily because of the demand generated by rapidly developing countries like India and China. Increased demand for the domestic production of various crops due to rapidly growing population is escalating the growth of the region’s seeds market. North America holds a significant market share owing to early adoption new technologies across the agricultural sector.
The “Global Seed Market– Forecasts from 2019 to 2024” is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, crop type, and geography.
The global seed market has been segmented based on type, crop type, and geography. By type, the market has been segmented into conventional, GMO, and hybrid. By crop type, the global seed market is segmented as fruits and vegetables, oilseeds and pulses, and cereals and grains.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the global seed market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the global seed market.