Europe Seed Market was worth $16.77 billion in 2021 and estimated to be growing at a CAGR of 8.90%, to reach $25.68 billion by 2026.
Seed is one of the most basic and important agricultural inputs and it forms the third largest inputs market after agrochemicals and farm machinery. Traditionally, the seed industry was the major contributor to the sustainable food production. However, nowadays with the advancement of technology, the industry is also contributing towards animal feed, bioenergy and biomaterials production. High yielding cultivars/seeds along with other agricultural inputs such as crop protection products, fertilizers, and irrigation are being used to attain optimum utilization in the agriculture sector.
The growth of the Europe seed market is mainly due to the growing demand for grains, oil and vegetables, rising demand for animal feed, less market concentration and increasing usage of biofuels. However, this market faces certain constraints like the lesser adoption of GM crops, long GM approval timelines, and regulations, rising public concerns over the safety of GM products and the years involved in the development of new seed traits. Complex regulatory bodies in the European Union are also hindering the growth of this regional market.
Europe Seed Market - By Seed Trait:
Herbicide tolerance continues to be the most common trait.
Europe Seed Market - By Crop Type:
The Market is Geographically divided into:
European is the third largest market with a global share of 18%. France is the largest market within the region with a percentage share of 26.3%. Spain seed market is leading the Grain seed segment with a market share of 58% by revenue. Other emerging markets in the region are Sweden, Norway, Netherlands, Denmark, and Greece.
Key strategies such as investments in R&D are being employed by major companies to meet the growing Seed demand.
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