North America Seed Market was worth $27.67 billion in 2021 and estimated to be growing at a CAGR of 9.80%, to reach $44.15 billion by 2026. The Seed market is evolving at a substantial rate due to the growing demand for food and feed and rapid fall of the arable land. High yielding cultivars/seeds along with crop protection products and fertilizers are being used to achieve ideal utilization in this sector.
Farmers bank on the seed industry to deliver seeds that bring high yields and help decrease the cost of the production. The concerns about pollution are driving the increase in the use of biofuels. Biofuels offer several advantages when compared to fossil fuels in terms of decreasing pollution, which is one of the main reasons of governments taking up initiatives to produce biodiesel.
Drivers and Restraints of North America Seed Market:
The growth of the North America Seed market is largely due to the rising population, increasing consumption of animal fodder, and growing need for commodities such as vegetable oil. Biofuels is another factor that is driving the market in this part of the world. Rising public concerns over the safety of GM products, decline in the international vegetable and fruit seed trade, and consolidation of the seed market are the major factors restraining the growth of the North American seed industry.
North America Seed Market - By Crop Type:
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.
North America Seed Market - By Seed Trait:
The Grain seed segment leads the seed market, whereas herbicide tolerance continues to be the most common transgenic trait.
The Market is Geographically divided into:
The USA leads the market in this region with a share of almost 80%. The North America market is very modern and is focused on innovating cost-effective techniques. Companies are committed to research, sourcing, and quality, factors that are central to the success of the industry.
Key strategies such as investments in R&D are being employed by major companies to meet the growing Seed demand.
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