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Commercial Seeds Market Growth Forecast | 2024 To 2033 Key Players Syngenta International AG, Bayer AG, Corteva Inc., Vilmorin & Cie SA, Land O'Lakes Inc
Commercial Seeds Market Share
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According to The Business Research Company's, The commercial seeds market size has grown strongly in recent years. It will grow from $75.24 billion in 2023 to $82.05 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to population growth, environmental factors, regulatory landscape.
The commercial seeds market size is expected to see strong growth in the next few years. It will grow to $114.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to global food security, climate change adaptation, sustainable agriculture, emerging markets, consumer awareness. Major trends in the forecast period include technological innovation, biotechnology and genetic innovation, organic and non-gmo demand, climate-resilient seeds, digital farming and data analytics, small-scale and local farming, global expansion.
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Market Drivers and Trends:
The growing demand for bio-fuels is expected to propel the growth of the commercial seed market. Biofuel is a renewable, non-toxic, environmentally beneficial, and economically viable alternative to fossil fuels, which are rapidly decreasing and have a significant environmental impact. Commercial seeds are extensively used in the production of agricultural products, which are further used in the processing of biofuels. Vegetable oil methyl esters, produced by transesterification of high-quality vegetable oil by methanol, are currently the most widely used type of bio-fuel. According to the US Energy Information Administration (EIA), an agency of the U.S. Federal Statistical System, biofuel output in the United States would expand until 2050. The amount of biofuel generated in 2050 would be 18% higher than the 6.5 billion liters produced in 2019. Therefore, escalating demand for biodiesel fuels is driving the growth of commercial seeds.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Syngenta International AG, Bayer AG, Corteva Inc., Vilmorin & Cie SA, Land O'Lakes Inc., Sakata Seed Corporation, Rijk Zwaan Zaadteelt en Zaadhandel B. V., Hyland Seeds Inc., MTI Distributing Inc., Triumph Seed Co., Northeast Seed Corporation., Limagrain Cereal Seeds LLC, KWS SAAT SE, DLF Seeds A/S, Takii & Co. Ltd., Monsanto Company, E. I. du Pont de Nemours and Company, Dow AgroSciences LLC, BASF SE, Bejo Zaden B. V., Groupe Roullier, East-West Seed International Limited, HM. CLAUSE Inc., Barenbrug Holding B. V., Advanta Seeds US Inc., Known-You Seed Co. Ltd., Tozer Seeds Ltd., Enza Zaden Beheer B. V., Seed Co Limited, E. W. Gaze Seeds Co. Ltd., Johnny's Selected Seeds Inc., Harris Moran Seed Company Inc., Seedway LLC
Commercial Seeds Market 2024 Key Insights:
• The commercial seeds market size is expected to see strong growth in the next few years. It will grow to $114.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Commercial Seed Market Soars With Growing Biofuel Demand
• Syngenta Seedcare And Bioceres Crop Solutions Forge Alliance For Bio-Innovations In Commercial Seeds
• North America was the largest region in the commercial seeds market in 2023
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