19-Sep-2019: The global
commercial seed market size is anticipated to reach USD 92.32 billion by 2025,
according to a new report by Grand View Research, Inc. It is anticipated to
register a CAGR of 8.1% over the forecast period. The increasing demand for
food owing to rising global population is a significant factor driving the
market. Moreover, the high yield and cost-effectiveness offered by Genetically
Modified (GM) seeds are predicted to propel the product demand.
Reducing area of
arable land owing to urbanization, desertification, and overall deterioration
of soil quality. As a result, there is a significant need to increase the yield
of the crops that are cultivated in the available land. Moreover, there are
regions that face significant challenges in agricultural production owing to
increasingly limited access to water resources. These factors are expected to
boost adoption of highly efficient GM seeds.
The product
guarantees a production, perfectly adapted to new industrial requirements, such
as resistance to diseases and insects, shorter production cycles, simultaneous
maturity, and homogeneity in production. The potential to replace farm seeds
with commercial seeds remains significant in several countries like U.S., where
agriculture is in the process of being modernized, and for certain crops in
particular, such as wheat.
The commercial seed
market is consolidated with top players accounting for significant market
share. These players include Monsanto, Syngenta, DowDuPont, and Vilmorin &
Cie. Acquisitions and launch of new facilities are the key strategies adopted
by these companies. For instance, in February 2018, Syngenta completed the
acquisition of Nidera seeds to gain competitive advantage and to increase
market share.
In
depth research report on Commercial Seeds Market
Further key findings from the report suggest:
·
Maize is anticipated to be the fastest growing product
segment with a CAGR of 9.1% during the forecast period owing to its extensive
utilization of the product as animal feed coupled with growing protein
consumption in emerging regions
·
Soybean was estimated to account for a 19.6% revenue share of
the commercial seed market in 2017 on account of significant consumption of
soybean as oil and animal feed
·
In the category of genetically modified seeds, cotton is
estimated to register the fastest CAGR of 9.8% due to high yield provided by Bt
cotton coupled with low utilization of insecticides required in its production
·
Asia Pacific is predicted to expand at the fastest CAGR
during the forecast period on account of the increasing requirement of higher
yield on the available arable land
·
In February 2018, Syngenta acquired Nidera Seeds, a South
American seeds manufacturer from COFCO International. This acquisition is
expected to enhance Syngenta’s ability to be competitive in the industry and
bring more value to its customers.
Grand View Research
has segmented the global commercial seed market on the basis of product,
genetically modified seed product, and region:
Commercial Seed Product Outlook (Revenue, USD Billion, 2014 -
2025)
·
Maize (Corn)
·
Soybean
·
Vegetable
·
Cereals
·
Cotton
·
Rice
·
Canola (Rapeseed)
·
Others
Commercial Seed Genetically Modified Seeds Product Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Soybean
·
Maize (Corn)
·
Cotton
·
Canola (Rapeseed)
·
Others
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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