The global commercial seed market size is anticipated to reach USD 92.32 billion
by 2025, according to a new report by Grand View Research, Inc. It is
anticipated to register a CAGR of 8.1% over the forecast period. The increasing
demand for food owing to rising global population is a significant factor
driving the market. Moreover, the high yield and cost-effectiveness offered by
Genetically Modified (GM) seeds are predicted to propel the product demand.
Reducing area of arable land owing to
urbanization, desertification, and overall deterioration of soil quality. As a
result, there is a significant need to increase the yield of the crops that are
cultivated in the available land. Moreover, there are regions that face
significant challenges in agricultural production owing to increasingly limited
access to water resources. These factors are expected to boost adoption of
highly efficient GM seeds.
The product guarantees a production,
perfectly adapted to new industrial requirements, such as resistance to
diseases and insects, shorter production cycles, simultaneous maturity, and
homogeneity in production. The potential to replace farm seeds with commercial
seeds remains significant in several countries like U.S., where agriculture is
in the process of being modernized, and for certain crops in particular, such
as wheat.
The commercial seed market is consolidated
with top players accounting for significant market share. These players include
Monsanto, Syngenta, DowDuPont, and Vilmorin & Cie. Acquisitions and launch
of new facilities are the key strategies adopted by these companies. For
instance, in February 2018, Syngenta completed the acquisition of Nidera seeds
to gain competitive advantage and to increase market share.
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https://www.grandviewresearch.com/industry-analysis/commercial-seeds-market
https://www.grandviewresearch.com/industry-analysis/commercial-seeds-market
Further key findings from the report suggest:
· Maize is anticipated to be the fastest
growing product segment with a CAGR of 9.1% during the forecast period owing to
its extensive utilization of the product as animal feed coupled with growing
protein consumption in emerging regions
· Soybean was estimated to account for a
19.6% revenue share of the commercial seed market in 2017 on account of
significant consumption of soybean as oil and animal feed
· In the category of genetically modified
seeds, cotton is estimated to register the fastest CAGR of 9.8% due to high
yield provided by Bt cotton coupled with low utilization of insecticides
required in its production
· Asia Pacific is predicted to expand at the
fastest CAGR during the forecast period on account of the increasing
requirement of higher yield on the available arable land
· In February 2018, Syngenta acquired Nidera
Seeds, a South American seeds manufacturer from COFCO International. This
acquisition is expected to enhance Syngenta’s ability to be competitive in the
industry and bring more value to its customers.
Grand View Research has segmented the
global commercial seed market on the basis of product, genetically modified
seed product, and region:
Commercial Seed Product Outlook (Revenue,
USD Billion, 2014 - 2025)
·
Maize (Corn)
·
Soybean
·
Vegetable
·
Cereals
·
Cotton
·
Rice
·
Canola (Rapeseed)
·
Others
Commercial Seed Genetically Modified Seeds
Product Outlook (Revenue, USD Billion, 2014 - 2025)
·
Soybean
·
Maize (Corn)
·
Cotton
·
Canola (Rapeseed)
·
Others
Commercial Seed Regional Outlook (Revenue,
USD Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Rest of the World
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
