The seeds market is projected to reach USD 113.28 billion at a CAGR of 9.9% from 2017 to 2022. The market is driven by factors such necessity to increase food production, increasing acceptance and area under cultivation of GM crops, and cautiously increasingly accomadative regulatory stance. There is high growth potential in developing markets such as China and India, which provides new development opportunities for market players.
In terms of the type of seeds, conventional seeds is the fastest-growing segment, as these seeds are referred to possess characteristics such as faster growth, higher yield, pest & disease resistance, and larger seeds. As consumer demands and expectations from the food industry continue to evolve, the opportunities for conventional seeds is also increasing. North America dominated the conventional seeds market in 2015.
On the basis of crop type, fruits & vegetables segment is estimated to grow with the highest CAGR from 2017 to 2022. Climate variation from tropical to temperate allows growers to produce a wide variety of fruits and almost any vegetable (with or without greenhouse infrastructure). The production of vegetables, their availability and supply continue to play a major role in the nutrition of the global population.
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Asia-Pacific is projected to be the fastest-growing regional market for seeds. Some of the main reasons for this extraordinary growth are continuous increase in the population and the support from governments as well as national and international associations to increase the agricultural production of oil, grains, fruits and vegetables to meet the need for food products in the region.
Key players in the market continue to invest and introduce new and innovative products. This strategy provides market players enough opportunities to increase their market share and expand across different countries in the Asia-Pacific region. These players have been adopting new product launches, mergers & acquisitions, expansions, collaborations, joint ventures, investments, partnerships and agreements with leading and other local companies, to enhance and strengthen their geographic reach in the seeds market.
The key players in this market include
- Bayer CropScience AG (Germany)
- E. I. Du Pont De Nemours and Company (U.S.)
- Monsanto Company (U.S.)
- Syngenta AG (Switzerland)
- The Dow Chemical Company (U.S.)
The objectives of the study are as follows:
- To understand and analyze the market segmentation, such as type, crop type, seed treatment, and trait
- To understand the structure of the seed market by identifying its various subsegments
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically profile key players and comprehensively analyze their market share and core competencies
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