Global Seed Market to Reach USD 99.9 Billion by 2030, Driven by Technological Advancements and Rising Food Demand

Mordor Intelligence has published a new report on the Seeds Industry, offering a comprehensive analysis of trends, growth drivers, and future projections.

The Seed Market is projected to be valued at USD 73 billion in 2024 and is anticipated to grow to USD 99.94 billion by 2030, with a compound annual growth rate (CAGR) of 5.38% during the forecast period (2024-2030). Factors such as significant profits for growers, high consumption value as food, and the rising demand from the lubricants industry for biofuel production position this as the largest segment.

Report Overview - https://www.mordorintelligence.com/industry-reports/seeds-industry

Key Trends

1. Technological Advancements in Seed Development

Innovations in biotechnology have led to the creation of genetically modified and hybrid seeds that offer higher yields, pest resistance, and adaptability to various climatic conditions. These advancements are crucial in meeting the growing food requirements of an expanding global population.

2. Rising Demand for Food

The global population is expected to reach 9.7 billion by 2050, intensifying the demand for food. This surge necessitates increased agricultural productivity, thereby driving the adoption of high-quality seeds that can enhance crop yields.

3. Adoption of Sustainable Agricultural Practices

There is a growing emphasis on sustainable agriculture, leading to the development and use of seeds that require fewer chemical inputs and are resilient to environmental stresses. This shift supports environmental conservation and aligns with global sustainability goals.

4. Government Initiatives and Support

Governments worldwide are implementing policies and providing subsidies to encourage the use of improved seed varieties. These initiatives aim to boost agricultural productivity and ensure food security, further propelling market growth.

Market Segmentation

1. By Breeding Technology

Hybrids: Seeds developed by cross-breeding two different parent plants to produce offspring with desired traits.

Open Pollinated Varieties & Hybrid Derivatives: Seeds produced through natural pollination, often saved and replanted by farmers.

2. By Cultivation Mechanism

Open Field: Traditional farming practices conducted in natural environments without protective structures.

Protected Cultivation: Farming within controlled environments such as greenhouses, enhancing crop quality and yield.

3. By Crop Type

Row Crops: Crops like cereals and grains planted in rows, facilitating mechanized farming.

Vegetables: Includes a variety of edible plant species cultivated for human consumption.

4. By Geography

North America: A leading market due to advanced agricultural practices and high adoption of biotechnology.

Europe: Focuses on sustainable farming and stringent regulations on genetically modified organisms (GMOs).

Asia-Pacific: Experiences rapid market growth driven by increasing population and food demand.

South America: Known for extensive agricultural lands and significant export of crops.

Africa: Emerging market with growing investments in agriculture to enhance food security.

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Key Players

The global seed market is characterized by the presence of several key players driving innovation and market expansion:

Bayer AG

Corteva Agriscience

Syngenta Group

Limagrain

KWS SAAT SE & Co. KGaA

These companies are investing in research and development to introduce innovative seed varieties that cater to the evolving needs of modern agriculture.

Conclusion

The global seed market is on a robust growth trajectory, driven by technological advancements, increasing food demand, and supportive government policies. The adoption of improved seed varieties is essential for enhancing agricultural productivity and ensuring food security. As key players continue to innovate and expand their offerings, the market is expected to witness significant developments, contributing to the sustainability and efficiency of global agriculture.

Industry Related Reports

Indian Seed Sector Analysis: The India Seed Market is categorized by breeding technology (Hybrids, Open Pollinated Varieties & Hybrid Derivatives), cultivation mechanism (Open Field, Protected Cultivation), crop type (Row Crops, Vegetables), and state (Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, Uttar Pradesh, West Bengal). The market is analyzed in terms of volume (metric tons) and value (USD).

To know more visit this link: https://www.mordorintelligence.com/industry-reports/indian-seed-sector-analysis

Vegetable Seed Market: The Vegetable Seed Market is divided by breeding technology (Hybrids, Open Pollinated Varieties & Hybrid Derivatives), cultivation mechanism (Open Field, Protected Cultivation), crop family (Brassicas, Cucurbits, Roots & Bulbs, Solanaceae, Unclassified Vegetables), and region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). The market is assessed in terms of volume (metric tons) and value (USD).

To know more visit this link: https://www.mordorintelligence.com/industry-reports/vegetable-seed-market

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This release was published on openPR.