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Flourishing Fields: Global Sorghum Seed Market to Reach $2.65 Bn by 2028 || Monsanto Company, UPL Limited, DuPont Pioneer, Nufarm Limited, Limagrain Group, Euralis Semences
Sorghum Seed Global Market Report 2024
The Business Research Company presents an extensive market research report on the Sorghum Seed Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The sorghum seed market size has grown strongly in recent years. It will grow from $1.96 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to staple food consumption, drought tolerance, food and beverage industry demand, biofuel production, resilience to pest and disease, cultural and traditional uses.
The sorghum seed market size is expected to see strong growth in the next few years. It will grow to $2.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to climate change adaptation, nutritional awareness, alternative crop rotation, demand for gluten-free products, international trade opportunities. Major trends in the forecast period include hybrid sorghum varieties, genetically modified (GM) sorghum traits, organic sorghum seed production, high-value sorghum for specialty markets, precision agriculture technologies.
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Key Market Players:
Major companies operating in the sorghum seed market report are Monsanto Company, UPL Limited, DuPont Pioneer, Nufarm Limited, Limagrain Group, Euralis Semences, LongPing High-Tech Agriculture Co Ltd., Advanta Limited, Kaveri Seed Company Pvt Ltd., Chromatin Inc., Seed Co Limited, S&W Seed Company, Shri Lal Mahal Group of Companies, La Crosse Seed LLC, Pacific Seeds Pty. Ltd., Terral Seed Inc., Wadsworth Seed Company Inc., Allied Seed LLC, Heritage Seeds Inc., Dyna-Gro Seed Inc., Hancock Farm and Seed Company, Sustainable Seed Company, Proline Seed Company, Blue River Hybrids LLC, Safal Seeds & Biotech Ltd., Alta Seeds Inc., Mabele Fuels Inc., National Sweet Sorghum Producers & Processors Association, Richardson Seeds, Sorghum Forum, Nuseed Global, NexSteppe Inc.
Market Drivers:
The rising awareness of a healthy lifestyle coupled with the growing trend of a healthy diet is contributing to the growth of the sorghum seed market. Consumer behavior towards healthy food consumption has shifted significantly in recent years as a result of increased awareness of health and changing lifestyles, as well as growing concerns about the benefits associated with health and wellness food. Sorghum is a nutrient-dense grain that is high in B vitamins, magnesium, potassium, phosphorus, iron, and zinc., among other vitamins and minerals. It also contains a high amount of fiber, antioxidants, and protein. For instance, according to a survey conducted by The Hindu in 2021, 70% of the participants stated that they would focus on improving overall health and immunity as well as lowering stress and anxiety by prioritizing dietary changes. Thus, the rising awareness of a healthy lifestyle coupled with the growing trend of a healthy diet will drive the growth of the sorghum seed market going forward.
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The sorghum seed market covered in this report is segmented -
1) By Product Type: Grain Sorghum, Sweet Sorghum, Forage Sorghum, Biomass Sorghum
2) By Application: Sorghum Planting, Sorghum Breeding
3) By End User: Animal Feed, Food Industry, Wine Making, Biofuel And Chemical Production, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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