Global Seed Market Forecast 2020-2028
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NEW YORK, April 22, 2020 /PRNewswire/ —
KEY FINDINGS
The global seed market is estimated to grow at a CAGR of 3.29% in terms of revenue, and 2.83% in terms of volume, during the forecasted period, 2020-2028. The factors propelling the market growth are the increasing advancements in seed technology, the need for more food production activities, the rising use of biofuels & animal feed, and favorable government support.
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MARKET INSIGHTS
Seeds are the essential ingredient used in the production of crops.The crops are increasingly used for producing fuel to decrease the dependency on fossil fuels.
The energy crops like wheat, sugarcane, soybean, and corn, release minimal amounts of greenhouse gases & pollutants, and are therefore increasingly preferred for biofuel production over fossil fuels.Corn production is boosted by the demands of the animal feed industry.
Corn and soybean crops are highly utilized in feed production. The increasing utilization of crops in the animal fuel industry and biofuels will thus fuel the growth of the global seed market.
However, seed certification is a long and laborious three-step process.The time taken in the development of new seed varieties is one of the factors hampering the growth of the market.
The grower’s requirements and preferences are taken into consideration while designing every new seed variety. The market is dominated by major players that are introducing new products and adopting GMO technologies.
REGIONAL INSIGHTS
On a geographical basis, the global seed market is divided into Asia Pacific, Europe, North America, and the rest of the world.The North American region is projected to record the highest CAGR by the end of the forecast period.
The US is considered to be the leading consumer and manufacturer of seeds in the region.The country also accounted for the largest market share in the global agri-business market in 2016.
The large-scale operations in the region are majorly focused on exports with an organized distribution chain.
COMPETITIVE INSIGHTS
Some of the eminent companies in the region are, Syngenta AG, KWS SAAT SE & Co KGaA, Groupe Limagrain, BASF SE, Bayer Cropscience AG, etc.
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• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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Companies mentioned
1. BASF SE
2. GROUPE LIMAGRAIN
3. SYNGENTA AG
4. KWS SAAT SE & CO KGAA
5. BAYER CROPSCIENCE AG
6. RALLIS INDIA LIMITED
7. CORTEVA AGRISCIENCE
8. RIJK ZWAAN SEED CULTIVATION AND SEED TRADING BV
9. SAKATA SEED CORPORATION
10. TAKII SEED & CO LTD
11. DLF SEED & SCIENCE
12. LAND O’LAKES INC
13. UPL
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