The global seed market size was worth around USD 61.2 billion in 2021 and is predicted to grow to around USD 107.8 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030.
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➤ Gaining more and more information on the health benefits of eating vegetables is fueling the market’s growth.
During the projected period, the global seed market is expected to rise due to the growing awareness of the advantages of eating vegetables around the world. For example, almost 1.7 million people die each year because they don’t consume enough fruits and vegetables, according to the World Health Organization. Furthermore, not getting enough fruits and vegetables is a leading cause of death globally. The prevention of serious non-communicable illnesses may thus be assisted by increasing the intake of fruits and vegetables in the diet on a regular basis. Vegetable planting seeds of the highest quality are only one of many agricultural inputs that growers across the world are utilizing to increase vegetable yields.
➤ Climate change is expected to slow the expansion of the sector.
The effects of climate change on agricultural output are a big worry on a worldwide scale. Crops are susceptible to pests and diseases, and climate change has a significant influence on crop yields. Both the health of crops and farming practices are affected by this. Decades of research have also shown that temperature, precipitation, and humidity have an impact on the development and spread of diseases on seed material, leading to substantial crop loss. Consequently, one of the main factors which is limiting the market’s growth is the changing climate.
➤ There is a promising opening for market growth due to the rising demand for organic seeds.
Due to the many benefits of organic products, the worldwide seed market is anticipated to see a prosperous expansion potential throughout the projected period, driven by the rising demand for organic seeds. If organic seed systems are expanded, farmers that successfully grow organic seed on their farms may have economic opportunities. Possibilities for commercial sale of organic seed, increased seed self-sufficiency and decreased input costs, and reduced financial risk due to access to more suitable seed are all positive outcomes for the economy.
➤ One of the biggest obstacles to the market’s expansion is the commercialization of bogus hybrid seeds.
One of the biggest obstacles to the market’s growth during the projected time is the sale of counterfeit hybrid seeds. False seed labeling, stolen intellectual property, counterfeit seeds, and regulatory infractions are just a few examples of the criminal seed practices that the International Seed Federation alleges have been on the rise. Consequently, hindering market expansion significantly.
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The Global Seed Market is segmented based on product, application and region
Global Seed Market: Product Segment Analysis
● Conventional
● Genetically Modified
Global Seed Market: Application Segment Analysis
● Cereals & Grains
● Oilseeds & Pulses
● Fruits & Vegetables
● Others
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The global Seed market profiles key players such as:
● Monsanto Co.
● Syngenta Int. AG
● Bayer CropScience AG
● Vilmorin & Cie SA
● Dow AgroSciences
● KWS SAAT AG
● Sakata Seed Corp.
● Takii & Co. Ltd.
● AgReliant Genetics LLC
● DLF-Trifolium
● Groupe Limagrain
● Land O’Lakes Inc.
● Rallis India Limited
● E. I. du Pont de Nemours
???? New Information:
• Under its new Vegetables by Bayer brand, which debuted in September 2021, Bayer said that it will expand its variety of vegetable seeds to include organically grown seeds. Three crucial greenhouse and glasshouse crops—cucumber, sweet pepper, and tomato—will be the focus of the launch. Next on the agenda for 2023 are tomato rootstock varieties. The Seminis and De Ruiter brands of vegetable seeds will be available for purchase.
• The acquisition of Vindara Inc., the pioneer in developing seeds tailored for vertical indoor farming and other forms of controlled environment agriculture (CEA), was announced by Kalera in February 2021. Kalera is a rapidly expanding U.S. vertical farming company and a global leader in plant science for the controlled production of high-quality products. Overall, Kalera’s value offer is strengthened by the acquisition of Vindara, which is science-driven and leads in innovation.
➤ During the projection period, the North American market is anticipated to maintain its dominant position.
From now until the end of the projection period, the North American seed market is projected to be the biggest in the world. Presence of top biotech companies and heavy investment in R&D are the reasons for the region’s success. For example, as stated by the United States Department of Agriculture, Between 1994 and 2010, private research and development spending in seven agricultural input industries (crop chemicals, fertilizer, crop seeds & biotech traits, farm machinery, food, animal health, nutrition, and genetics) increased by an average of 3.6% per year (or, adjusted for inflation, by 1.4% per year).
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