The report “Seed Market by Type (GM Seed, Conventional Seed), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds), Seed Treatment (Treated, Non-treated), Trait (Herbicide-tolerant, Insecticide-resistant), and Region – Global Forecast to 2022″, The market for seed is projected to reach a value of USD 113.28 Billion by 2022 at a CAGR of 9.9% from 2017.
The seed market is driven by factors such as necessity to increase food production, increasing acceptance and area under cultivation of GM crops, and change in science and technology advancements. The high growth potential in emerging markets and untapped regions provide new growth opportunities for the market players.
Conventional seed is projected to be the fastest-growing segment, by type, from 2017 to 2022
Conventional seed is the fastest-growing segment, as these seeds 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 seed is also increasing. North America dominated the conventional seed market in 2016.
Fruits & vegetables crop type segment projected to depict high potential for the seed market
Fruits & vegetables segment is estimated to grow at 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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The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. An outstanding growth is observed in this region for the seed market over the past few years. 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.
GM crops are used widely in the U.S. and Asia, but many European regulations have stated its impact on health and wildlife due to the concerns focused on their potential impacts on human health and the environment. GM crops such as corn have been banned for cultivation in France according to the laws passed by the EU.
The seed market is characterized by moderate competition due to the presence of a number of large- and small-scale firms. The market is dominated by players such as Bayer CropScience AG (Germany), The Dow Chemical Company (U.S.), E. I. Du Pont De Nemours and Company (U.S.), Monsanto Company (U.S.), and Syngenta AG (Switzerland). These collectively accounted for the largest portion of the seed market in 2016. New product launches, acquisitions, agreements, and expansions are the key strategies adopted by players to ensure their growth in this market. Other players, such as KWS SAAT SA (Germany), Groupe Limagrain (France), Sakata Seed Corporation (Japan), Rallis India Limited (India), and Land O’Lakes, Inc. (U.S.), also have a strong presence in this market.
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