The latest report by IMARC, titled “Commercial Seeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global commercial seeds market size reached US$ 68.6 Billion in 2022. Commercial seeds refer to seeds sown for producing an intended crop or used as animal feed or industrial raw material. They are used for minimizing soil erosion on cropland, enhancing the productivity of the pasture and grazing lands, and creating and restoring wetlands. They are also widely adopted for the production of biodiesel fuels. In recent years, commercial seeds have gained traction due to the growing demand for biodiesel fuels on account of the increasing environmental concerns and stringent fuel emission standards implemented by governments of various nations.
Global Commercial Seeds Market Trends:
One of the primary factors driving the market is the rapidly growing population and the declining arable land, which is causing food insecurity. Additionally, the rising awareness among farmers regarding the use of hybrids and biotech crops has led key players to offer hybrid seeds that possess excellent vigor, uniformity, and yield potential, thus creating a positive market outlook. Other than this, the escalating demand for global energy, rising need for renewable and clean fuel sources, and the expanding automotive industry are boosting the demand for biofuels, thus accelerating the market growth. In line with this, governing agencies in various nations are encouraging the adoption of sustainable farming practices through numerous incentives, which is influencing the demand for organic, non-genetically modified organisms (GMO) commercial seeds. Moreover, extensive investment in research and development (R&D) activities by key players to enhance performance, yield, and diseases and pest resistance of commercial seeds is bolstering the market growth. Looking forward, IMARC Group expects the market value to reach US$ 104.2 Billion by 2028 expanding at a CAGR of 7.33% during the forecast period (2023-2028).
- Based on the conventional seed, the market has been divided into maize, soybean, vegetable, cereals, cotton, rice, canola, and others.
- On the basis of the genetically modified seeds, the market has been segmented into soybean, maize, cotton, canola, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Bayer AG, Corteva Inc., DLF Seeds A/S, KWS SAAT SE& Co. KGaA, Land O’ Lakes Inc., Rijk Zwaan Zaadteelt en Zaadhandel B.V., Sakata Seed South Africa, Syngenta Group (ChemChina), Takii & Co. Ltd., and Vilmorin & Cie (Groupe Limagrain).
|Base Year of the Analysis
||Conventional Seeds, Genetically Modified Seeds, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bayer AG, Corteva Inc., DLF Seeds A/S, KWS SAAT SE & Co. KGaA, Land O'Lakes Inc., Rijk Zwaan Zaadteelt en Zaadhandel B.V., Sakata Seed South Africa, Syngenta Group (ChemChina), Takii & Co. Ltd. and Vilmorin & Cie (Groupe Limagrain)
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