Global Seed Market Size, Share, Opportunities, And Trends By Type (Conventional, GMO, Hybrid), By Crop Type (Fruits And Vegetables, Oilseeds And Pulses, Cereals And Grains), And By Geography - Forecasts From 2023 To 2028

  • Published : Dec 2023
  • Report Code : KSI061610568
  • Pages : 142

The global seed market is projected to grow at a CAGR of 6.63% over the forecast period, increasing from US$87.418 billion in 2021 to US$137.018 billion by 2028.

The global seed market, a crucial linchpin in the intricate web of global food production, plays an indispensable role in shaping the future of agriculture. Seeds, serving as the fundamental building blocks for all crops, wield profound influence over farmers' yields and profitability, thereby influencing the overall food supply chain. Several interconnected factors contribute to the dynamic nature of the global seed market.

Additionally, the global seed market is intricately intertwined with the evolving challenges and opportunities in the realm of agriculture. The seed industry is essential for addressing the challenges of a growing global population and climate change. It plays a vital role in shaping the future of food production and security. The dichotomy between multinational giants and localized seed companies underscores the need for a balanced and adaptable approach to seed development, ensuring a resilient and sustainable future for global agriculture.

Increased pace of urbanization and sustainable usage

Urbanization is a key driver of the global seed market. Urbanization drives up the demand for food.  However, the amount of land available for agriculture decreases, leading to a shift towards more intensive farming practices that require high-quality seeds. In urban areas, vertical farms and other innovative farming practices are being developed to produce food in small spaces. These practices require seeds that are tolerant to high nutrient levels and low light levels, as well as resistant to pests and diseases. In addition to food, there is also a high demand for seeds for ornamental plants in urban areas. Many people want to have gardens and other green spaces, even if they are small. This is driving demand for seeds for flowers, shrubs, and other ornamental plants. Overall, urbanization is a major driver of the global seed market. The demand for high-quality seeds is increasing in urban areas as farmers and homeowners seek to produce food and ornamental plants in small spaces. As per the October 2023 Short-term outlook of agricultural markets by the European Commission, the EU oilseed production is 11% above the 5-year average. In addition, the source also stated that the use of cereals to produce biofuel is expected to grow continuously at 12% above the 2022/23 levels.

It is projected that the United States seed market will grow steadily. 

Over the last century, the landscape of the U.S. seed industry underwent significant transformations. The shift saw an increasing number of farmers opting to purchase seeds rather than relying on saved seeds from previous harvests. Simultaneously, the sector witnessed the transition from smaller, independent seed businesses to more extensive enterprises that seamlessly incorporated plant breeding, production, conditioning, and marketing functions. According to USDA, anticipated U.S. oilseed production for 2021/22 is now projected at 130.8 million tons, reflecting a 1.5-million-ton increase from the previous month. This adjustment is attributed to elevated soybean production, partially mitigated by reduced forecasts for sunflower seed, canola, peanuts, and cottonseed. The soybean production estimate stands at 4.4 billion bushels, a 74-million-bushel rise driven by enhanced yields. The harvested area remains steady at 86.4 million acres, and the soybean yield is expected to be 51.5 bushels per acre.

The adoption of herbicide-tolerant (HT) crops in the United States has been rapid and widespread. In 2001, 68% of soybean acres were planted with HT seeds. This number plateaued at 94% in 2014 and has remained at that level since then. The adoption of HT corn has been slower, but it has also been significant. In 2023, 91% of domestic corn acres were planted with HT seeds. Insect-resistant crops, incorporating genes from the soil bacterium Bt (Bacillus thuringiensis) to produce insecticidal proteins, have been accessible for corn and cotton since 1996. Bt corn acreage surged from 8% in 1997 to 85% in 2023, while Bt cotton expanded from 15% in 1997 to 89% in 2023.

Market Key Developments

  • In June 2022, Corteva Agriscience, BASF, and MS Technologies signed an agreement to develop next-generation Enlist E3 soybeans with the nematode-resistant soybean (NRS) trait for farmers in the United States and Canada.

Segmentation:

  • By Type
    • Conventional
    • GMO
    • Hybrid
  • By Crop Type
    • Fruits and Vegetables
    • Oilseeds and Pulses
    • Cereals and Grains
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe 
      • Germany
      • France
      • UK
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

The seed market is projected to grow at a CAGR of 6.63% over the forecast period.
The global seed market is projected to reach a market size of US$137.018 billion by 2028.
Seed Market was valued at US$87.418 billion in 2021.
North America is predicted to hold the largest share of the seed market.
Along with the growing population, there is an increase in the global need for food, which is boosting the expansion of the global seed market.

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL SEED MARKET BY TYPE

5.1. Introduction

5.2. Conventional

5.3. GMO

5.4. Hybrid

6. GLOBAL SEED MARKET BY CROP TYPE

6.1. Introduction

6.2. Fruits and Vegetables

6.3. Oilseeds and Pulses

6.4. Cereals and Grains

7. GLOBAL SEED MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. France

7.4.3. UK

7.4.4. Italy

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Israel

7.5.4. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. India

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisition, Agreements, and Collaborations

9. COMPANY PROFILES

9.1. East-West Seed

9.2. Syngenta

9.3. Bayer AG

9.4. Corteva

9.5. UPL

9.6. Limagrain

9.7. Rijk Zwaan Zaadteelt en Zaadhandel B.V.

9.8. Bejo Zaden B.V.

9.9. Enza Zaden

9.10. TAKII & CO., LTD.

9.11. KWS SAAT SE & Co. KGaA

9.12. Sakata Seed America


East-West Seed

Syngenta

Bayer AG

Corteva

UPL

Limagrain

Rijk Zwaan Zaadteelt en Zaadhandel B.V.

Bejo Zaden B.V.

Enza Zaden

TAKII & CO., LTD.

KWS SAAT SE & Co. KGaA

Sakata Seed America