Press release
Rice Seeds Market: Global Trends, Insights & Growth | 2024 To 2033 Key Players Bayer AG, Syngenta Group, Advanta Seeds Pty Ltd, Nuziveedu Seeds, Mahyco, BASF SE.
Rice Seeds Market Share
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According to The Business Research Company's, The rice seeds market size has grown strongly in recent years. It will grow from $7.82 billion in 2023 to $8.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to population growth, traditional rice varieties, government policies and subsidies, environmental factors.
The rice seeds market size is expected to see strong growth in the next few years. It will grow to $12.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to changing dietary preferences, crop resilience and disease resistance, trade and globalization, sustainable agriculture, consumer awareness, climate change mitigation. Major trends in the forecast period include genetic engineering, adoption of high-yield varieties, digital agriculture, market diversification, sustainable farming practices.
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Market Drivers and Trends:
The growing world population and the subsequent surging demand for food are expected to propel the growth of the rice seeds market going forward. According to the Worldometer, the global population in 2021 was 7.9 billion and is expected to reach 10 billion by 2057. The increasing population will increase the demand for food which in turn promotes the growth of the rice seeds market. For instance, according to the Food and Agriculture Organization of the United Nations (FAO), world food demand is expected to increase by 70% by 2050. Therefore, the growing global population and the subsequent surging demand for food will drive the rice seeds market.
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:
Bayer AG, Syngenta Group, Advanta Seeds Pty Ltd, Nuziveedu Seeds, Mahyco, BASF SE, Kaveri Seeds Co Ltd, SL Agritech Corporation, Rasi Seeds Pvt. Ltd., Rallis India Limited, JK Agri Genetics Limited, Hefei Fengle Seed Co. Ltd., Corteva Agriscience, Guard Agri Genetics, Savannah Seeds Private Limited, Pioneer Hi-Bred International Inc., Krishidhan Seeds Pvt. Ltd., Nath Biogene (I) Ltd., Seminis Vegetable Seeds Inc., Seed Co Limited, Biostadt India Limited, Takii & Co. Ltd., National Seeds Corporation Limited, Maharashtra Hybrid Seeds Company Ltd., Namdhari Seeds Private Limited, Metahelix Life Sciences Private Limited, Best Genetics India Private Limited, Japan Dietetic Corporation, Kinze Manufacturing Inc., Limagrain Europe SA, Morepen Laboratories Limited
Rice Seeds Market 2024 Key Insights:
• The rice seeds market size is expected to see strong growth in the next few years. It will grow to $12.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Navigating The Global Rice Seed Market Amidst Soaring World Population And Food Demand
• Technology Breakthroughs Reshaping The Rice Seeds Market
• Asia-Pacific was the largest region in the rice seeds market in 2023
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