Press release
Commercial Seed Market to Rise at 9.90% CAGR from 2012 to 2018, Increasing Global Population Propels Growth
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Commercial seeds are developed to cater to the food needs of the rising population across the world. Today, farmers and public-sector plant cultivators hold a small share of the commercial seed market worldwide. This is because in a span of three decades, a handful of multinational corporations have utilized intellectual property laws to commoditize the world’s seed supply.
The report cites many reasons for the development of the commercial seed market over the past few years. The increasing global population, rising demand for animal feed and oleochemicals, and increasing utilization of biofuels are some of the vital reasons for the market’s growth. The report also explains the various factors that are hindering the growth of this market. This primarily includes challenges from patent-related issues; large companies have acquired patents on advanced plant breeding methods, which leaves others to employ conventional methods. This also restricts other players from utilizing specified genetic traits in plant breeding procedures. The commercial seed market is highly consolidated with 75% of the total market being taken over by the top ten players. Other than this, increasing concerns about risks of genetically modified crops is also hampering the growth of this market to a considerable extent, adds the report.
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The report segments this market on the basis of commercial seeds, bio seeds (GM seeds), and geography. By commercial seed type, in 2011, maize crop dominated the market and held a 40% revenue share in the global market. On the other hand, soybean and other vegetable seeds collectively held a share of more than 30% in the overall market in the same year. Maize crop is expected to register the fastest growth until the end of the forecast period.
On the basis of GM seeds, the soybean segment displayed the highest demand in 2011; the segment held a revenue share of more than 40% in the overall market in the same year. However, the corn segment is expected to display the fastest growth until the end of the forecast period.
In terms of geography, North America, Europe, Asia Pacific, and Rest of the World are the regional segments of this market. In 2011, North America stood as the largest market for commercial seeds with a share of more than 30% in the global market. Asia Pacific and Europe stood as the second-largest and third-largest markets, respectively, for commercial seeds globally in the same year. In the coming years, the Asia Pacific commercial seed market will display double-digit growth due to the rising economic prosperity in the emerging nations of the region.
Monsanto Co., DuPont Pioneer, Bayer CropScience, Dow AgroSciences, Sakata Seed Corp., AgReliant Genetics LLC, Syngenta Int. AG, Vilmorin & Cie SA, KWS SAAT AG, and Takii & Co. Ltd. are some of the major vendors of commercial seeds globally.
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