Seeds Market to Exhibit 4.6% CAGR and Generate $106,179.0 Million by 2031 | Research Dive

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20 Jun, 2023, 15:59 GMT

The global seeds market is expected to witness striking growth by 2031, owing to the increasing demand for producing quality seeds to produce high-yielding crops. The North America region held the largest market share in 2021

NEW YORK, June 20, 2023 /PRNewswire/ -- Global Seeds Market Forecast Analysis: 

As per the report published by Research Dive, the global seeds market is predicted to generate a revenue of $106,179.0 million and rise at a CAGR of 4.6% during the analysis timeframe from 2022 to 2031. 

Segments of the Seeds Market

The report has divided the seeds market into the following segments:

  • Seeds Type: genetically modified and conventional
    • Genetically Modified – Held the largest market share in 2021
      The increasing demand for genetically modified seeds to produce crops with specific characteristics such as longer shelf life, increased nutrient content, and improved flavor is predicted to foster the growth of the market sub-segment further.
  • Crop Type: cereals and grains, fruits and vegetables, and other crop types
    • Fruits and Vegetables – Garnered the highest market share in 2021
      The increasing demand for fresh and healthy fruits and vegetables among consumers and the growing adoption of sustainable farming practices by leading companies to produce crops in an environmentally friendly manner are expected to amplify the growth of the market sub-segment forward.
  • Traits: herbicide-tolerant, insecticide-resistant, and other traits
    • Herbicide -Tolerant - Generated the biggest market share in 2021
      The increasing adoption of herbicide-tolerant traits among farmers to control weeds more effectively, reduce yield losses, and minimize the use of other agricultural inputs such as tillage and irrigation, is predicted to propel the growth of the market sub-segment in the coming period.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • North America – Registered the maximum market share in 2021
      The rising demand for food among individuals, the growing implementation of modern farming techniques, such as precision agriculture, and many more, and the supportive government initiatives to provide subsidies and incentives to farmers for encouraging them to adopt modern technologies are expected to drive the regional growth of the market in the coming period.

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Dynamics of the Global Seeds Market

The rising demand for quality seeds to produce high-yielding crops for the rapidly growing population across the globe is expected to bolster the growth of the seeds market throughout the analysis timeframe. Besides, the increasing awareness among farmers about the benefits of using high-quality seeds is expected to augment the growth of the market during the estimated period. However, the regulatory challenges over seeds may hamper the market's growth over the forecast period. 

The increasing use of genetically modified seeds to boost crop productivity, diminish the use of pesticides, increase the resistance power of pests and diseases, and enhance the tolerance to environmental stresses is expected to create wide growth opportunities for the seeds market throughout the estimated period. 

Covid-19 Impact on the Global Seeds Market

The rise of the Covid-19 pandemic has brought several uncertainties across various industries. It has also affected the growth of the seeds market. This is mainly due to the disrupted supply chains, and shortages of labor which led to creating logistic challenges for seed producers, distributors, and retailers. Moreover, the restrictions on movement and travel have brought several challenges for seed companies to meet the increasing demand for seed supply. Additionally, the disruptions in the availability of agricultural inputs such as pesticides, machinery, and fertilizers have further impacted seed production during the pandemic. 

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Key Players of the Global Seeds Market

The major players of the market include

  • KWS SAAT SE
  • Limagrain
  • Sakata Seed Corporation
  • BASF
  • AgReliant Genetics LLC
  • Syngenta AG
  • DLF Seeds A/S
  • Corteva
  • Yuan Longping High-tech Agriculture Co. Ltd.
  • Bayer Crop Science AG

These players are mainly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry. 

For instance, in February 2023, Corteva, Inc., a major American agricultural chemical and seed company, announced the launch of Optimum® GLY canola, an advanced herbicide-tolerant trait technology. This trait is particularly designed to help canola farmers offer commercial planting across Canada and the United States with Corteva Agriscience seed brands such as Pioneer® and Brevant® seeds. 

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What the Report Covers                  

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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