Evolving Seed Technologies are augmenting the Global Seed Market Growth

According to a new market research report published by Inkwood Research, the Global Seed Market is projected to register a CAGR of 3.29% in terms of revenue and 2.83% in terms of volume during the forecasting years of 2020-2028.

"Browse 189 Market Data Tables and 73 Figures spread over 279 Pages, along with an in-depth TOC on the Global Seed Market Forecast 2020-2028."

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The global seed market entails several traits and types of seed. The demand for food is expected to increase in the coming years, with the growing human population. At such times, agriculture takes center stage as a means to meet the mass food production needs across the globe. Increasing the yield per land is the only feasible way to produce enough food, which can be done by utilizing modern seed technologies in agriculture. Thus, innovations like genetically modified seeds can augment the production yield, and food scarcity can be minimized. As a result, the demand for seeds is slated to increase in the future.

Evolving Seed Technologies Fuel Market Growth

The management of seed after harvest is instrumental in crop establishment. Seeds were treated with copper lime and mercury in the past for their protection against pests and diseases. At present, insecticides and fungicides are used, which target specific diseases. The advancing seed technologies like seed processing, seed coating, encrustations, pelleting, seed priming, etc. fuels the growth of the market. The integration of micronutrients and microbial inoculants in seeds increases its tolerance to abiotic stress, and aids in the early establishment of seedlings. The cold plasma coating technology entails the seed treatment using several gaseous polymers under high energy and low temperature. The use of such technologies has settled several issues faced by the farmers during the early inception of crops.

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Commercial Seeds is projected to Record Highest CAGR in Terms of Revenue

Commercial seeds have improved genetic content, and higher yield is assured to the cultivators. The manufacture of seeds at the commercial level involves five stages. These include select seed, breeder plots, registered seed, certified seed, and foundation seed. Several added traits, like disease resistance, drought tolerance, and insect tolerance, makes it a viable option among farmers. The commercial production of seeds encompasses knowledge of copping history, appropriate site selection, weather changes, adequate water supply, etc. The commercial seed demands are on the increase at the global level due to the steady decrease in cultivable land, which is a result of industrialization and urbanization. The declining seed saving among farmers is increasing the use of commercial seeds. The R&D activities for the development of an enhanced version of commercial seeds, along with the growing awareness among farmers are set to result in lucrative market growth opportunities during the forecast period.

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Asia Pacific - The Dominating Region in Terms of Revenue

The Asia Pacific region held the largest market share in terms of revenue in 2019, and is evaluated to maintain this trend until the end of the forecast period. The region represents about 40% of the global crop planted area. The emerging economies of Asia prioritize agriculture mechanization and intensification in order to increase production. The food security agenda is precedence for the government in developing Asia Pacific countries, along with the subsidization of rice. Agriculture is the backbone of the Asia Pacific economy.
The prominent companies operating in the market are Corteva Agriscience, Sakata Seed Corporation, BASF SE, Rallis India Limited, Groupe Limagrain, etc. The market players are launching new products and adopting GMO technologies for sustaining the competition. They are also adopting strategies like collaboration, merger & acquisition, and expansion, to increase their market share.

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This release was published on openPR.