The Global Seed Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Seed Market is estimated to be $64.10 USD billion and predicted to rise to $99.53 USD billion with a CAGR of 9.20%. The market is segmented by Crop Type (Oilseed-soybean, sunflower, cotton, canola; Grain seed-corn, wheat, rice, millet crops; Fruit & Vegetable-tomato, melon, carrot, onion, pepper, lettuce; Other seed-alfalfa, turf, clover & forage plants, flower seed), and by Seed Trait (Herbicide Tolerant, Insect Resistant, and Other Stacked Traits). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the Global Seed market is majorly driven by factors such as rising global population, increasing consumption of animal fodder, and growing need for commodities such as vegetable oil. Increasing awareness among farmers about the benefits of high-quality seed is also helping boosting market for good seeds. Another major factor driving this market is the growing demand for biofuels, which in turn is exerting pressure on the agriculture sector to increase the production of crops such as Corn. Concerns over Genetically Modified Seeds is restraining the growth of the market. The seed market is hindered as the GM seeds are relatively more expensive than normal seeds in developing countries like India.
The Global Seed market is segmented based on Crop type and Seed trait. On the basis of Crop type, the global Seed market is segmented into Oilseed, Grain seed, Fruit & Vegetable, and Other seed. Oilseed includes soybean, sunflower, cotton, canola; Grain seed includes corn, wheat, rice, millet crops; Fruit & Vegetable includes tomato, melon, carrot, onion, pepper, lettuce; Other seeds include alfalfa, turf, clover & forage plants, and flower seed. On the basis of Seed trait, the market is segmented into Herbicide Tolerant, Insect Resistant, and Other Stacked Traits. The Grain seed segment leads the seed market, with corn having the largest share followed by soybean. Herbicide tolerance continues to be the most common transgenic trait, whereas Insect resistance is the second most common genetically modified trait.
On geographical basis, Global Seed market is segmented into: Asia-Pacific, Europe, North America, Latin America and Middle-East and Africa. North America and Europe are the top two seed markets in the world with a market share of 36% and 22% respectively.
Leading players in the Seed market are Monsanto, DuPont, Syngenta, AG, Dow AgroSciences LLC, Land O’Lakes Inc., and Bayer Crop Science. Existing companies such as Monsanto and Syngenta have been actively involved in the acquisition of regional players to strengthen their market presence. Key strategies such as investments in R&D are being employed by major companies to meet the growing Seed demand.
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