Seeds Market is Projected to Reach $83.3 billion by 2028

According to a research report published by MarketsandMarkets, the global seeds market is expected to experience substantial growth in the coming years. The market is estimated to be valued at USD 58.8 billion in 2023 and projected to reach USD 83.3 billion by 2028, with a compound annual growth rate (CAGR) of 7.2% during the forecast period.

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One of the key drivers of this growth is the increasing demand for organic and pesticide-free food. As customers become more conscious of their health and environmental impact, the organic agricultural business has witnessed significant growth. This, in turn, has led to a rise in the demand for certified organic seeds, contributing to the expansion of the overall seeds industry.

Another factor driving the growth of the seeds market is the increasing demand for biofuels. With the shift towards renewable energy sources, biofuel production has seen a surge in demand. Crops such as maize, soybeans, and canola are used as feedstock for biofuel production. As a result, there is a higher demand for seeds suitable for biofuel crops, which further propels the growth of the seeds industry.

The research report highlights the prominence of the oilseeds & pulses segment, which is expected to be the leading segment during the forecast period. The growing global demand for edible oils, driven by factors like population growth, urbanization, and changing dietary patterns, has increased the demand for high-quality oilseed seeds. Similarly, pulses have gained importance as a plant-based protein source, leading to a greater need for high-quality pulse seeds.

Among the different seed traits, herbicide tolerance is projected to be the fastest-growing segment. Herbicide-tolerant seeds offer an effective solution to the problem of herbicide-resistant weeds. By genetically engineering seeds to tolerate specific herbicides, farmers can more efficiently control weeds. This saves time and labor, resulting in cost savings and improved efficiency for farmers.

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Regionally, North America is expected to be the largest market for seeds during the study period. Biotech crops, particularly genetically modified (GM) seeds, have gained popularity in North America due to their advantages such as herbicide tolerance, insect resistance, and higher yield potential. Additionally, there is a rising demand for specialty crops like fruits, vegetables, and high-value commodities in the region. This drives the need for specific seeds tailored to different crops, with distinct features, flavors, and nutritional profiles, contributing to the growth of the seeds industry in North America.

Key players in the seeds market include BASF SE, Bayer AG, Syngenta Crop Protection AG, KWS SAAT SE & Co. KGaA, Corteva, Limagrain, Advanta Seeds (UPL), SAKATA SEED CORPORATION, DLF Seed A/S, Enza Zaden Beheer B.V., Ralis India Limited, FMC Corporation, TAKII & CO., LTD., Royal Barenbrug Group, and Longping High-Tech, among others.

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