A seed is a ripened fertilized ovule of a plant that contains an embryo and plays a significant role in the generation of a new plant. It is enclosed in the seed coat, which protects the embryo and performs several functions such as providing nourishment, dispersing to new locations and dormancy in unfavorable weather conditions. Besides this, seeds offer food to other species like animals and humans. According to IMARC Group, the global seeds market size reached US$ 66.9 Billion in 2018.
Food production is currently experiencing an increase on account of the rising global population which, in turn, is strengthening the growth of the global seeds market. Moreover, owing to economic growth and inflating income levels, the requirement for agricultural products from the food and non-food sectors is increasing in numerous developing markets, such as India, China and Middle East. Furthermore, due to rapid urbanization, the availability of per capita arable land has declined, which has led to the sales of high-yielding seed varieties. Moreover, increasing health and environmental consciousness has led to the demand for natural and chemical-free products. This trend has boosted the demand for organic seeds. Apart from this, governments in various countries are encouraging the production of biofuel. Consequently, the need for crops, such as soybean and corn, is increasing, thereby positively influencing the market growth. Looking forward, the market is anticipated to reach a value of US$ 98.1 Billion by 2024, exhibiting a CAGR of 6.6% during the forecast period (2019-2024).
The global seeds industry is highly concentrated due to the monopoly of the top 5 manufacturers in the market. These key players include:
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Monsanto Company is a publicly traded American multinational agrochemical and agricultural biotechnology corporation which was incorporated on February 9, 2000. It produces seeds, biotechnology trait products, herbicides and precision agriculture tools to farmers. The company currently employs around 21,900 people and operates through 404 facilities in 66 countries across the globe.
Bayer was founded in Barmen in 1863 and is headquartered in the German city of Leverkusen. It is a multinational chemical, pharmaceutical and life sciences company. From 1925 to 1952, the company was a part of IG Farben, the world's largest chemical and pharmaceutical company. After 1952, it again became an independent company. Bayer's primary areas of business include human and veterinary pharmaceuticals; consumer healthcare products; agricultural chemicals and biotechnology products; and high-value polymers. As of December 31, 2016, the company employs around 115,200 employees across the globe.
E.I. du Pont de Nemours and Company (DuPont)
E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company which was incorporated on September 4, 1915. Its subsidiaries and affiliates conduct manufacturing, seed production or selling activities. As of December 31, 2016, the company had operations in approximately 90 countries around the world. It operates through six segments, namely agriculture, electronics and communications (E&C), industrial biosciences, nutrition and health, performance materials, and protection solutions.
Syngenta was formed in December 1999 with the spin-off and merger of the agrochemical and seed division of Novartis, and the agrochemicals and biotechnology research divisions of AstraZeneca. The company is engaged in the discovery, development, production and marketing of a range of products designed to improve crop yields and food quality. It also develops seeds and plants using advanced genetics and related technologies. Syngenta’s seed portfolio includes more than 200 product lines and 6,800 varieties of proprietary genetics. Moreover, the company operates across the globe through its three segments consisting of the integrated crop protection, seeds business, and lawn & garden business.
The Dow Chemical Company (Dow), incorporated on June 11, 1947, is a manufacturer and supplier of products used primarily as raw materials. It serves various industries such as appliance, automotive, agriculture, building and construction. Apart from this, the product portfolio of the company includes Mycogen seeds, Brodbeck seeds, Dairyland seeds, Phytogen cottonseeds, Pfister seeds and Prairie brand seeds. It operates through five segments including agricultural sciences, consumer solutions, infrastructure solutions, performance materials & chemicals and performance plastics.
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