Increasing Need for Food & Feed Supports the Growth of the Seed Market

The global seed market size is estimated to be valued at USD 59.3 billion in 2020 and is expected to reach a value of USD 80.9 billion by 2025, grrowing at a CAGR of 6.4% during the forecast period. Factors such as increasing application of cereals, oilseeds, and vegetables in the food, beverages, biofuels, and the pet food industry alongside growing technological advancements, such as the adoption of hybridization and genetically modified seeds, are driving the growth of the market.

Seed Market by Type (Genetically Modified and Conventional), Trait (Herbicide Tolerance and Insect Resistance), Crop Type (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables), and Region - Global Forecast to 2025

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The genetically-modified segment is estimated to account for a larger market share, in terms of value, in 2020

Genetically-modified seeds are projected to account for the largest and fastest-growing segment. The market for genetically modified seeds is expected to grow robustly in the Americas, due to the favorable policies for adoption of genetically modified seeds, presence of key processing industries, export demand, reduced production cost, and enhanced efficiency for obtaining maximum yields would drive the market in these regions.

The other traits segment is estimated to hold the largest market in the seed industry, in terms of value, in 2020

The other traits hold a larger market share in the genetically modified seed market since the adoption of crops with multiple traits has reduced the application of pesticides on crops as a result of which, the cost of cultivation has also decreased. Farmers are looking at the adoption of crops that have multiple traits such as disease-resistance, insect resistance, stress tolerance, and drought-resistance since the presence of multiple traits would cater to the growing menace of pests & diseases and unfavorable climatic conditions. These traits help the farmer to purchase a single-solution seed to overcome multiple issues. The other traits segment is expected to witness substantial market growth in the developed markets of North America and South America, during the forecast period.

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The cereals & grains segment, by crop type, is estimated to account for the largest market share, by value, in 2020

Cereals & grains are projected to account for the largest market share due to factors such as an increase in consumption of cereals & grains as staple foods in various Asian and Southeast Asian countries and African countries. The growing international demand has also promoted major cereals & grains producers such as China and India to increase their production. The widespread adoption of crops such as corn from the feed, biofuel, and food industries also drives the growth of this segment.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is the fastest-growing region in the seed market owing to the presence of some of the major seed producers in the world, such as China, Thailand, and India. Favorable climatic conditions, coupled with government initiatives directed toward the development of the agricultural sector in most of the countries in the region, is one of the driving factors for the growth of the agricultural inputs market. Other than China, which is one of the largest producers of commercial seeds in the world, countries such as Vietnam, Japan, Indonesia, and Australia are the other important seed markets in the Asia Pacific region.

Key players are BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland), KWS SAAT SE (Germany), Land O’ Lakes (US), Sakata Seed Corporation (Japan), Groupe Limagrain (France), Corteva Agriscience (US), United Phosphorous Limited (India), DLF (Denmark), Longping Hi-tech (China), Rallis India Limited (India), Enza Zaden (The Netherlands), Takii & Co. Ltd (Japan), and Barenbrug Holding B.V (Netherlands).

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