According to the latest report by IMARC Group, titled "Seeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global seeds market size reached US$ 44.4 Billion in 2022. A seed is a mature ovule that contains a tiny undeveloped plant and food reserves. It mainly consists of three components: embryo, endosperm, and seed coat. The embryo is a small plant with a root, stems, and leaves. The endosperm refers to the nutritive tissue of the seed, containing starch, oil, and protein. On the other hand, the seed coat refers to the protective covering that helps seeds remain viable for a long time. A seed plays an important role in the reproduction of plants due to its ability to grow into a new plant under proper environmental conditions, including temperature, moisture, and sunlight. It performs various vital functions, such as providing nourishment to the embryo, dispersing to new locations, and achieving dormancy in adverse weather conditions. Some of the standard seeds extensively used across the world include wheat, rice, corn, and other edible legumes, such as peanuts, lentils, beans, and peas.
Global Seeds Market Trends:
The global seed market is primarily driven by the substantial shift in farming practices and increasing demand for food caused by a growing population, rapid urbanization, and the shortage of available per capita arable land. A rising number of farmers prefer commercially produced enhanced seed varieties over the seeds from the last harvest since they have enhanced nutritional quality and are resistant to disease, thus reducing crop damage and improving crop yield. In addition to this, rising health concerns and consumer awareness about the benefit of regular consumption of fruit and vegetables are fuelling the need for good quality vegetable planting seeds, which is acting as another growth-inducing factor. Moreover, the advent of genetically modified (GM) seeds with more yield and can help farmers enhance the efficiency of their farmlands is presenting remunerative opportunities for the market. Besides this, the introduction of hybrid seeds, which are developed as per the requirements of consumers and farmers in terms of adaptability, nutrition, taste, color, shape, size, cooking quality, yield, and shelf-life, is aiding in market expansion. Furthermore, several governments are encouraging the use of biofuel on account of its environmental benefits, which is propelling the demand for crops like soybean and corn. This, in turn, is creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 49.6 Billion by 2028, expanding at a CAGR of 2% during 2023-2028.
- Based on the type, the market has been bifurcated into conventional and genetically modified seeds.
- On the basis of the seed type, the market is segregated into oilseeds (soybean, sunflower, cotton, and canola/rapeseed), cereals & grains (corn, wheat, rice, and sorghum), fruits & vegetables (tomatoes, melons, brassica, pepper, lettuce, onion, and carrot), burpee & park, and other seeds (alfalfa, clovers and other forage, flower seed, and turf grasses).
- Based on the trait, the market is categorized into herbicide-tolerant (HT), insecticide-resistant (IR), and other stacked traits.
- On the basis of availability, the market has been divided into commercial and saved seeds.
- Based on the seed treatment, the market has been classified into treated and untreated.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia-Pacific (China, Japan, India, South Korea, Australia, Singapore, and others), Latin America (Brazil, Mexico, Argentina, and others), and Middle East and Africa (Turkey, South Africa, Saudi Arabia, UAE, and Others).
- The competitive landscape of the market has also been examined, with some of the key players being Bayer Crop Science AG, Corteva, Syngenta AG, BASF, Limagrain, KWS SAAT SE, Sakata Seed Corporation, AgReliant Genetics, LLC, DLF Seeds A/S, and Yuan Longping High-tech Agriculture Co., Ltd.
|Base Year of the Analysis
||Type, Seed Type, Traits, Availability, Seed Treatment, 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, Singapore, Brazil, Mexico, Argentina, Turkey, South Africa, Saudi Arabia, UAE
||Bayer Crop Science AG, Corteva, Syngenta AG, BASF, Limagrain, KWS SAAT SE, Sakata Seed Corporation, AgReliant Genetics, LLC, DLF Seeds A/S and Yuan Longping High-tech Agriculture Co., Ltd.
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