The seed market expected to reach at $68, 711 million in 2023 | Top Key players - Ajeet Seeds Private Limited, Ankur Seeds Pvt. Ltd., Beijing Dabeinong Technology Group Co

The seed market was valued at $54, 469 million in 2016, and is expected to reach at $68, 711 million in 2023, growing at a CAGR of 3.4% from 2017 to 2023. Seed is a small embryonic plant enclosed within a covering known as seed coat. Seed formation completes reproduction process in plants with the development of the embryo from zygote and seed coat from ovule integuments. Seed serves numerous functions for plants such as nourishment of the embryo, dormancy during unfavorable conditions, and dispersal to a new location. Larger food reserves present in the seed helps the seed grow faster as compared to sporeling from a spore. Hybridization, molecular marker-assisted breeding, and gene insertion technologies are some of the agricultural market developments, which expected to boost the growth of the seed industry.

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Necessity to increase food production, sophistication of seed technologies such as seed pelleting & seed coating, new product offerings, and growth in usage of biofuels & animal feed are the major factors that drive the market growth globally. In addition, modernization of agriculture and increase in land reclamation for agricultural purposes supplement the market growth. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to growth in population and rise in demand for new & enhanced agricultural products. Introduction of special schemes to increase productivity in the region resulted in surge in usage of quality seeds that provide high yield. Market liberalization to ensure proper availability of high-quality & high-yielding seeds to Indian farmers and flexibility of norms while exporting products to overseas play a crucial role in growth & development of the market.

However, extensive research & prolonged approval time involved in the development of enhanced seed varieties with novel traits and lower acceptance of GM crops in various countries limit the market growth. Technological innovation and diversified demand for various crops in developing economies are anticipated to provide lucrative opportunities for market expansion.

The seed market is segmented on the basis of type, crop, availability, seed treatment, seed trait, and geography. According to type, the seed market is divided into genetically modified (GM) seed and conventional seed. Based on crop, it is classified into field crops and fruits & vegetable crops. Field crops segment is further categorized into cotton, corn, rice, wheat, millet, sunflower, and sorghum. Fruits & vegetable crops segment is subsegmented into tomato, okra, chilli, melon, gourds, cabbage, cauliflower, cucumber, and others (eggplant, pumpkin, radish, and carrot). Based on availability, the market is bifurcated into commercial seeds and saved seeds. According to seed treatment, it is classified into treated and untreated. On the basis of seed trait, it is divided into herbicide tolerant, insecticide resistant, and other stacked traits. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.

In May 2016, S&W Seed Company acquired SV Genetics Pty, Ltd., an Australian manufacturer of proprietary sunflower and sorghum seed, to expand their existing product portfolio and widen their geographical reach.

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Major players operating in this market include the following:
• Advanta Limited
• Bayer CropScience AG
• DLF Seeds A/S
• DOW Agrosciences LLC
• E.I Du Pont De Nemours and Company
• Groupe Limagrain Holding SA
• KWS AG
• Land O' Lakes, Inc.
• Sakata Seed Corporation
• Syngenta AG

KEY BENEFITS
• This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of seed market, which assists to identify the prevailing market opportunities.
• Major countries in each region are mapped according to individual market revenue.
• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
• An in-depth analysis of current research and clinical developments within the market is provided with key dynamic factors.
• Leading players and their key developments in the recent years are listed.

KEY MARKET SEGMENTS

By Type
• Genetically Modified (GM) Seed
• Conventional Seed

By Crop
• Field Crops
o Cotton
o Corn
o Rice
o Wheat
o Millet
o Sunflower
o Sorghum

• Fruit & Vegetable Crops
o Tomato
o Okra
o Chilli
o Melon
o Gourds
o Cabbage
o Cauliflower
o Cucumber
o Others (Eggplant, Pumpkin, Radish and Carrot)

By Availability
• Commercial Seeds
• Saved Seeds

By Seed Treatment
• Treated
• Untreated

By Seed Trait
• Herbicide Tolerant
• Insecticide Resistant
• Other Stacked Traits

By Geography
• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Spain
o Italy
o Rest of Europe

• Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific

• LAMEA
o Brazil
o South Africa
o Saudi Arabia
o Turkey
o Rest of LAMEA

KEY PLAYERS

Ajeet Seeds Private Limited, Ankur Seeds Pvt. Ltd., Beijing Dabeinong Technology Group Co., Ltd., China National Seed Group Corp., Emerald Seed, Inc., Gansu Dunhuang Seed Co., Ltd., Henan Goldoctor Seeds Co., Ltd., Jiangsu Dahua Seed Group Co., Ltd., Kaveri Seed Company, Nuziveedu Seeds Ltd., Nunhems Seeds Private Ltd., Rallis India Limited, Rasi Seeds (P) Ltd., Shriram Bioseed Genetics India Limited Company, S&W Seed Company, Takii & Co. Ltd.

(Companies mentioned above are not profiled in the report, but can be profiled upon client request)

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