The Hybrid Seeds Market is estimated to be valued at USD 25.2 billion in 2021 and is expected to reach a value of USD 34.9 billion by 2026, growing at a CAGR of 6.7% during the forecast period. Factors such as increase in seed replacement rate, availability of hybrid seeds, and increasing demand for fruits and vegetables are the main drivers of the hybrid seeds market.
COVID-19 impact on Hybrid Seeds market
The outbreak of COVID-19 and the measures taken to control the pandemic are having a crippling effect on the agriculture sector across the globe. Seeds are the starting point for agricultural production; therefore, during times of crisis such as the COVID-19 pandemic, seed delivery is among the essential services that must continue to operate to support the current and subsequent production cycles.
However, issues related to transportation of seeds either domestically or internationally due to the reduced number of flights, low number of drivers and slow process of the necessary documentation because of lower number of staff is creating specific problems for the seed sector.
Due to the pandemic of COVID-19, there has been a delay in the supply of seeds to farmers and is a major pain point as seed production depends on allied sectors such as labor, transporting, and packaging, which have been impacted due to the lockdown. COVID-19 impact on the agriculture and agri-allied sectors remain latent, especially with the inability of small farmers to move their products from their farms to markets, both semi-urban and urban, and to source agricultural quality inputs in some regions across the globe.
Leading companies operating in the hybrid seeds market are BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland), KWS SAAT SE (Germany), Land O’ Lakes (US), Sakata Seed Corporation (Japan), Groupe Limagrain (France), Corteva Agriscience (US), UPL Limited (India), DLF (Denmark), Longping Hi-tech (China), Rallis India Limited (India), Enza Zaden (The Netherlands), Takii & Co. Ltd (Japan), and Barenbrug Holding B.V (Netherlands).