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The seeds market size is forecast to increase by USD 29.53 billion at a CAGR of 6.75% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for ornamental plants, flowers, and landscaping vegetation in gardens, parks, and urban areas. Urban farming, rooftop gardening, and small-scale cultivation are gaining popularity, leading to the adoption of advanced farming techniques such as vertical farming and controlled indoor environments. Organic farming practices and smart agriculture technologies, including sensors and drones, are being employed to ensure crop uniformity and reduce the use of chemical inputs. Hybrid varieties and precision breeding techniques are being developed through the manipulation of specific genes and the introduction of foreign DNA. However, environmental degradation and soil health concerns are driving the need for sustainable farming practices and agroecological approaches. Overall, the market is expected to grow due to these trends and challenges, with a focus on innovation and sustainability.
The market is a significant segment of the global agriculture industry, catering to the demand for food production and raw materials for various industries. Seeds play a crucial role in enhancing crop yield and improving nutritional value for food and animal feed. New plant technologies, such as improved seed varieties, genetic engineering, and refining oilseeds, have revolutionized farming practices. Farmers increasingly prefer hybrids and open-pollinated varieties for their high productivity and resistance to pests and diseases. The global seed market encompasses various crop types, including food grains like wheat, rice, and corn, and oilseeds like cotton, soybean, and sunflower.
Furthermore, the market also caters to the demand for organic products and non-transgenic hybrid seeds. The animal feed industry utilizes oilseed meal as a primary source of protein. Seeds of angiosperms, including flowering plants, are the focus of research for their embryonic plant structures and reproductive structures. Genetic diversity and the conservation of plant species are essential for maintaining the sustainability of the market.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The conventional seeds segment is estimated to witness significant growth during the forecast period. Unlike GM seeds, conventional seeds are not hybridized. They are grown in conventional systems using synthetic fertilizers and harsh pesticides. In regions such as North America and the European Union (EU), GM foods were considered unsafe. Therefore, some countries introduced a partial ban on the import of grains produced from GM seeds. However, these factors will be beneficial for the conventional seeds segment growth during the forecast period. The demand for organic farming is growing, which is increasing the demand for conventional seeds. They are typically grown through natural breeding methods. They are also more affordable and have better adaptability to different growing conditions. Therefore, the demand for conventional seeds will increase during the forecast period, which will drive the growth of the segment during the forecast period.
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The conventional seeds segment was valued at USD 35.61 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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China and India have the largest populations in the world. Hence, they are major markets in the region. These countries have large areas of agricultural land, and the high food consumption is high. Governments of these countries are taking initiatives to improve the quality of seeds and productivity. In addition, the issue of food security drives the demand for hybrid seeds with modified characteristics. These factors will drive the growth of the market in APAC during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for biofuels is the key driver of the market. The market plays a vital role in the food industry as it provides the foundation for growing a wide range of crops, including food grains like rice, corn, wheat, and pulses, as well as oilseeds such as soybean, groundnut, rapeseed, mustard, and sunflower. Farmers rely on high-quality seeds to achieve improved yields and enhance the nutritional value of their produce. In recent years, there has been significant advancement in seed technology, leading to the development of improved seed varieties through genetic engineering. The refining of oilseeds results in the production of oilseed meal, which is rich in protein content and is extensively used in the animal feed industry.
Furthermore, key players in the feed manufacturing sector, including soy meal and vegetable protein meals, are major consumers of oilseed meals. The global oilseed market is expected to witness strong growth due to the increasing demand for plant-based protein products and the expanding animal feed industry. Additionally, the growing awareness of health benefits associated with plant-based diets is driving the demand for high-protein crops and their derived products.
The growing usage of seeds with advanced generation traits is the upcoming trend in the market. The market plays a vital role in the global food industry by providing high-quality seeds for various crops, including food grains like rice, corn, wheat, and oilseeds such as groundnut, rapeseed, mustard, sunflower, and soybean. Farmers rely on improved seed varieties to achieve higher yields and enhanced nutritional value in their produce.
Furthermore, the oilseed market has experienced significant growth due to the refining of oilseeds into products like soybean meal and vegetable protein meals, which hold high protein content and are in high demand in the animal feed industry. Genetic engineering has also been instrumental in producing improved seed varieties, leading to advancements in crop productivity and sustainability. Key players in the market include farmers, feed manufacturers, and oilseed processors. Soy meal and pulses are popular plant-based protein products derived from seeds, catering to the increasing demand for vegetarian and vegan food options. The market is projected to continue its growth trajectory in the coming years.
The rise in seed prices is a key challenge affecting the market growth. The market plays a vital role in the food industry as it provides the foundation for growing a wide range of crops, including improved seed varieties of food grains such as rice, corn, wheat, and pulses, as well as oilseeds like groundnut, rapeseed, mustard, sunflower, and soybean. Farmers rely on high-quality seeds to ensure improved yields and enhanced nutritional value in their produce.
Furthermore, in the oilseed market, refining processes yield oilseed meals with high protein content, making them valuable for the animal feed industry. Key players in this sector include soybean meal and vegetable protein meals. Genetic engineering is increasingly being used to develop new seed varieties with desirable traits, driving market growth. The oilseed market is projected to expand significantly due to the rising demand for plant-based protein products and the increasing use of oilseed meals in feed manufacturing for livestock.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BASF SE - The company offers FiberMax Cotton seed, InVigor Canola seed, and Stoneville Cotton seed.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of crops, including food crops such as rice, corn, wheat, groundnut, rapeseed, mustard, sunflower, safflower, and soybean, as well as oilseed crops like cotton. The market growth is driven by the demand for improved seed varieties with enhanced nutritional value, disease resistance, and drought tolerance. Farmers in various climatic conditions, irrigated areas, and non-irrigated lands rely on seeds to ensure optimal temperature, rainfall, and moisture for their crops. Advanced seed technologies, including molecular breeding and genetic engineering techniques, are used to develop high-performance seeds with specific genes for desirable traits such as herbicide tolerance, insect resistance, and nutrient utilization efficiency.
Moreover, these seeds contribute to overall plant health and food security. The oilseed market, specifically soybean meal and vegetable protein meals, is a significant part of the market. These meals are high in protein content and are used extensively in the animal feed industry. Environmental influences, including weather and soil conditions, play a crucial role in seed production. Traditional breeding methods, molecular markers, and gene selection processes are used to develop seeds that can withstand various environmental challenges. Fraudulent practices, such as falsified seeds, counterfeit labels, and spurious hybrid seeds, pose a threat to the market. Farmers must be cautious when purchasing seeds to ensure they receive high-quality, authentic products.
Furthermore, innovations in agriculture, such as smart agriculture technologies, sensors, drones, and precision breeding techniques, are transforming the market by enabling farmers to produce crops more efficiently and effectively. Organic farming practices and sustainable farming approaches are also gaining popularity, emphasizing the importance of soil health and environmental degradation mitigation.
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Market Scope |
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Report Coverage |
Details |
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Page number |
142 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.75% |
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Market growth 2024-2028 |
USD 29.53 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.72 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key countries |
US, Canada, China, France, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Adaptive Seeds LLC, Baker Creek Heirloom Seeds, BASF SE, Bayer AG, Corteva Inc., East West Seed Group, Florimond Desprez Co., Fruition Seeds LLC, Harris Seeds, JK Agri Genetics Ltd., KWS SAAT SE and Co. KGaA, LIDEA France, Limagrain, Rijk Zwaan Zaadteelt en Zaadhandel BV, Royal Barenbrug Group, Sakata Seed Corp., Seed Needs LLC, Syngenta Crop Protection AG, Takii and Co. Ltd., and UPL Ltd. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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