Global Rice Seed Market to Reach US$ 11.4 Billion by 2032, Accelerated by Rising Consumption of Rice as A Staple Food Crop

March 30, 2023 | Agriculture

As per the latest report by IMARC Group, titled "Rice Seed Market Report by Type (Open Pollinated, Hybrid), Grain Size (Long, Medium, Short), Hybridization Technique (Two-Line System, Three-Line System), Treatment (Treated, Untreated), and Region 2024-2032," the global rice seed market size reached US$ 7.2 Billion in 2023. Rice seeds are a type of cereal grain consisting of an outer hull and a single rice kernel. They are commercially available in various sizes and varieties, including arborio, basmati, brown, white, and jasmine rice. They are an excellent source of antioxidants, vitamins, and minerals and are also gluten-free and low- fat. They can be naturally produced through open pollination or artificially manufactured using hybrid technologies. The open-pollinated variety (OPV) is produced through natural pollination, while hybrid seeds involve fertilizing purebred sterile rice seeds with pollen from a different rice variety. Rice seeds are also available in non-transgenic and transgenic variants, which are genetically modified to enhance the functional properties of the crop. Regular consumption of the product helps improve heart health, aid in digestion, support weight loss, and provide energy, which is why it is witnessing a considerable surge in demand across the globe.

Global Rice Seed Market Trends:

The global rice seed market is set to experience significant growth due to the burgeoning product consumption as a staple food crop across the globe. This is further supported by the rising popularity of organic rice-based farming practices and the surging demand for OPV seeds. Moreover, the growing food demand due to rising population and the rapid adoption of hybrid rice seeds for high productivity are driving the market growth. Additionally, inflating prices of high-quality seeds, the easy availability of contract services, agricultural credits, fertilizers, machinery, and pesticides, and the surging need for improved quality of rice crops due to the increasing health-consciousness and awareness among consumers are acting as other major growth-inducing factor. Besides this, the rapidly expanding agriculture industry, significant advancements in seed technology, increasing global demand for rice, and escalating investments by governments of various nations in crop development programs to promote hybrid seed cultivation are providing an impetus to the market growth. Looking forward, the market value is projected to reach US$ 11.4 Billion by 2032, expanding at a CAGR of 5.1% during 2024-2032.

Market Summary:

  • Based on the type, the market has been bifurcated into open pollinated and hybrid (transgenic and non-transgenic).
  • On the basis of the grain size, the market has been divided into long, medium, and short.
  • By hybridization technique, the market is categorized into two- and three-line systems.
  • Based on the treatment, the market is bifurcated into treated and untreated.
  • On the basis of region, the market has been segmented 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 examined, with some of the key players being BASF SE, Bayer AG, Corteva Inc., Limagrain, Mahyco Private Limited, Nuziveedu Seeds Limited (NSL Group of Companies Pvt Ltd.), Rallis India Limited (Tata Chemicals Limited), Rasi Seeds (P) Ltd., Savannah Seeds Private Limited (RiceTec AG), SL Agritech Corporation, Syngenta Group (China National Chemical Corporation) and UPL Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Grain Size, Hybridization Technique, Treatment, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BASF SE, Bayer AG, Corteva Inc., Limagrain, Mahyco Private Limited, Nuziveedu Seeds Limited (NSL Group of Companies Pvt Ltd.), Rallis India Limited (Tata Chemicals Limited), Rasi Seeds (P) Ltd., Savannah Seeds Private Limited (RiceTec AG), SL Agritech Corporation, Syngenta Group (China National Chemical Corporation) and UPL Limited
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Global Rice Seed Market to Reach US$ 11.4 Billion by 2032, Accelerated by Rising Consumption of Rice as A Staple Food Crop
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