Global Seeds Market 2020-2029 By Region, By Type, By Trait and Top 20 Country Market Analysis

Introduction – Global Seeds Market Analysis

Seeds are embryonic plants covered in a coating that functions as the unit of reproduction for the parent plant. They produce food for several animal species and form a fundamental part of the agricultural process. Over the past several decades, the importance of seeds in the agriculture business has developed rapidly on account of progressions in technology and the consequent introduction of improved seed varieties.
The market size is expected to reach a value of USD 86.8 billion by 2026 and is predicted to increase at a CAGR of 6.6% The increasing demand for seeds from the beverage, food, biofuels, and animal feed industry is stimulating the growth of the market.

Market drivers and constraints – Global Seeds Market Analysis

Biotechnology is being utilized to generate stress-tolerant and more nutritious crop species to preserve natural resources. Biotech crops have reached beyond the major crops such as soybeans, cotton, corn, and canola to crops such as sugar beets, papaya, alfalfa, squash, potato, apple, and eggplant. Additionally, biotech crop analysis administered by public sector organizations includes banana, rice, potatoes, chickpea, wheat, mustard and pigeon pea with several economically significant and nutritional quality attributes profitable to food producers and buyers in developing countries.
The seeds market is a research-centric industry. The research differs from company to company depending on the approach and choice of techniques. Due to unpredictable climatic conditions and the high demand for food, producers are inclined towards genetically modified seeds. The expense of cultivating genetically modified seeds is higher, leading to an increase in the production expenditure. Some companies have a pioneering status in the development of genetically modified seeds with distinct traits such as insect resistance and herbicide tolerance, due to which they are in a better spot to charge a premium for their products (seeds).
Organic and hybrid seeds of different varieties of fruits and vegetables such as apples, tomatoes, melons, and grapes cost higher than conventional seeds, this leads the producers to utilize existing seeds from the previous harvest cycle to diminish the overall expenditure on seeds. This could harm the growth of the market for seeds.
The outbreak of COVID-19 and the steps taken to regulate the pandemic have a crippling impact on the farming sector across the globe. Seeds are the origin of agricultural production, during times of crisis such as the COVID-19 pandemic, seeds transportation is among the essential services that must remain to operate to support the current and consequent production cycles.

Segments analysis – Global Seeds Market Analysis

The seed market can be segmented into type, trait, and crop type.
Based on the type of seed market, it is divided into conventional and genetically modified. The genetically modified seeds in the seeds market are predicted to account for the fastest-growing segment. Genetically modified seeds enable farmers to reduce their running expenses significantly. For example, agrochemical treatments guarantee a much more sufficient harvest, hence they are sold at a significantly higher price than conventional seeds. The genetically modified segment is predicted to be the fastest-growing segment in the seeds market.
Based on the trait of the seed market, it is categorized into insect resistance and herbicide tolerance. The increasing adoption of crops with various traits has conceded the decline in usage of herbicides and insecticides leading to a reduction in the cost of cultivation. Businesses such as Syngenta Group of Switzerland are proposing seeds with accumulated traits through its marketing line, Agrisure. The company’s research and development is being conducted toward the construction of distinct molecular stacks, which would support hybrids to have three or more traits within them. This way, the producers would be able to achieve higher yields and greater protection against pests and herbicides. At present, herbicide tolerance dominates the trait segment of the seeds market.
Based on crop type, the seed market has cereals and grains, fruits and vegetables, and oilseeds and pulses components. The cereals and grains segment is forecasted to hold the largest seeds market share owing to determinants such as the widespread use of grains as a staple diet in many Asian and Southeast Asian regions. In the past countries such as China have appeared as major exporters of seeds to meet the demand of neighboring economies. Crops such as corn are extensively used in both the feed and food industries. With the rising demand for biofuels, crops such as sorghum are being produced on a massive scale. A rise in awareness for vitamin and protein-rich foods is accelerating the demand for fruits and vegetable seeds globally.

Regional Analysis – Global Seeds Market Analysis

The seeds market in the Asia Pacific region is predicted to grow at the highest CAGR during the forecast period. The supportive regulations and increasing demand in the feed and food industries have urged the utilization of the seeds market in the Asia Pacific region.

Key Players – Global Seeds Market Analysis

Few key players in the market are BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland ).