The size of the Middle East and Africa seed market is expected to be valued at USD 4.44 billion in 2023 and is anticipated to reach a valuation of USD 6.60 billion by 2028, growing at a CAGR of 8.24% during the forecast period 2023 to 2028.
The seed market is developing at a significant rate due to the rising demand for food and feed and the rapid decline in arable land. 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.
Farmers count on the seed industry to provide seeds that bring high yields and help reduce the cost of production. The global concerns about pollution are driving the increase in the use of biofuels. Biofuel offers various advantages when compared to fossil fuels in terms of reducing pollution, which is one of the primary reasons governments are taking up initiatives to produce biodiesel.
The growth of the Middle East and African seed market is majorly driven by factors such as the rising population and increasing consumption of animal fodder. Volatile economies and lack of awareness about GM seeds are the major hindrances for the market in this region. Also, GM seeds are relatively more expensive than normal seeds due to the higher cost of patented seeds.
This research report on the Middle East and Africa seed market is segmented and sub-segmented into the following categories:
Middle East and Africa Seed Market - By Crop Type:
Middle East and Africa Seed Market - By Seed Trait:
Middle East and Africa Seed Market – By Country:
The market has been geographically segmented into the Middle East and Africa. In terms of revenue, South Africa leads the market in this region. Other major markets for seeds in this region include Zimbabwe, Zambia, Tanzania, and Nigeria. The market in this region has the lowest share due to the farming community's unawareness about the uses and benefits of GM seeds.
KEY MARKET PLAYERS:
Monsanto, DuPont, and Bayer Crop Science are some key players are dominating the Middle East and African seed markets. Existing companies such as Monsanto and Syngenta have been actively involved in the acquisition of regional players to strengthen their market presence.
The Middle East and Africa seed market is valued at USD 4.44 billion in 2023, growing at a CAGR of 8.24% during the forecast period 2023 to 2028.
Countries such as Saudi Arabia, Iran, and Turkey are major contributors to the seed market in the Middle East, with a focus on enhancing agricultural productivity.
The affordability of high-quality seeds varies between South Africa and other African countries and is influenced by economic conditions, government policies, and local agricultural practices.
The adoption of precision agriculture technologies in Israel influences seed planting practices, enhancing efficiency, optimizing seed placement, and improving overall crop yields.
Monsanto, DuPont, and Bayer Crop Science. Some key players are dominating the Middle East and Africa seed markets.
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