Seed Market Overview:
The Seed Market was valued at $54,469 million in 2016, and is expected to reach at $68,711 million by 2023, registering a CAGR of 3.4% from 2017 to 2023. An embryonic plant enclosed within a protective outer covering is known as seed. It is utilized as the basic, central, and vital input in agriculture and all farming systems. Seed serves various functions for the plants such as dispersal to new locations, nourishment of the embryo, and dormancy during unfavorable conditions. Timely availability of quality seeds in adequate quantity decides the health and strength of an agricultural economy. Quality seeds suitable to various agro-climatic conditions in sufficient quantity and at affordable prices are necessary to raise overall crop productivity. High-quality seeds such as hybrid seeds offer better yield, significant uniformity, enhanced color, and disease resistance to the resulting plants.
The growth of the global seed market is driven by modernization of agriculture, requirement to increase food production, and rise in usage of biofuels & animal feed. In addition, diversification of diets, sophistication of seed technologies such as seed coating & seed pelleting, rise in usage of waste land for agricultural purposes, and increasingly accommodative regulatory stance are anticipated to supplement the market growth. Asia-Pacific is expected to show highest growth rate during 2017-2023, owing to surge in population, rise in disposable income, and development in the agricultural sector. In addition, the region has minimum restrictions associated with import and export of seeds. Financial and technical assistance from foreign agencies, such as the U.S. Agency for International Development (USAID), Rockefeller Foundation, World Bank, and Ford Foundation in early development stage of seeds to strengthen breeding, processing of seed, and quality control plays a significant role in growth and development of the market. However, lower acceptance of genetically modified crops in various regions such as Europe and prolonged time & extensive research involved in the development of new seed varieties having novel traits hinder the market growth. Introduction of new technologies having potential benefits over conventional ones, enhancement in seed replacement rate (SRR), and increase in demand for seeds in emerging economies are expected to provide lucrative opportunities for market growth.
The seed market is segmented based on type, crop, availability, seed treatment, seed trait, and geography. By type, the market is classified into genetically modified (GM) seed and conventional seed. On the basis of crop, it is bifurcated into field crops and fruits & vegetable crops. The field crops segment is divided into cotton, corn, rice, wheat, millet, sunflower, and sorghum. The fruits & vegetable crops segment is further classified into tomato, okra, chilli, melon, gourds, cauliflower, cabbage, cucumber, and others (eggplant, pumpkin, radish, and carrot). According to availability, the market is categorized into commercial seeds and saved seeds. Based on seed treatment, it is classified into treated and untreated. On the basis of seed trait, it is divided into herbicide tolerant, insecticide resistant, and other stacked traits. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pocket
Okra segment is the most prominent segment in the global seed market, and is expected to be first preference for new entrants, due to rising in demand of okra crop across the globe. Okra crop is rich in nutrients such as fiber, folic acid, and vitamin B6.
India accounted for the highest market share in the Asia-Pacific seed market in 2016, owing to increase in demand for fruit & vegetable crops. The South Korea seeds market generated revenue of $200 million in 2016, and is estimated to reach $256 million by 2023, growing at a CAGR of 3.6% during the forecast period.
South Korea Seed Market, 2015-2023
Key leading players operating in this market include Advanta Limited, Bayer CropScience AG, DLF Seeds A/S, DOW Agrosciences LLC, E.I. Du Pont De Nemours and Company, Groupe Limagrain Holding SA, KWS AG, Land O' Lakes, Inc., Sakata Seed Corporation, and Syngenta AG.
The other key market players in the value chain include Ajeet Seeds Private Limited, Ankur Seeds Pvt. Ltd., Beijing Dabeinong Technology Group Co., Ltd., China National Seed Group Corp., Emerald Seed, Inc., Gansu Dunhuang Seed Co., Ltd., Henan Goldoctor Seeds Co., Ltd., Jiangsu Dahua Seed Group Co., Ltd., Kaveri Seed Company, Nuziveedu Seeds Ltd., Nunhems Seeds Private Ltd., Rallis India Limited, Rasi Seeds (P) Ltd., Shriram Bioseed Genetics India Limited Company, S&W Seed Company, and Takii & Co. Ltd.
- This report provides a quantitative & qualitative analysis of the current market trends and estimations from 2016 to 2023, which assists to identify the prevailing market opportunities in the different application segments.
- Market trends of major countries in each region are mapped according to anticipated market revenue.
- Top investment pockets highlight the opportunities in the most lucrative application segment.
- Comprehensive analysis of the factors that drive and restrict the growth of seeds market is provided.
- An in-depth analysis of different regulations within the market is provided.
- Key manufactures of seeds are profiled and their recent developments are listed.
Seed Market Key Segments:
- Genetically Modified (GM) Seed
- Conventional Seed
- Field Crops
- Fruit & Vegetable Crops
- Others (Eggplant, Pumpkin, Radish and Carrot)
- Commercial Seeds
- Saved Seeds
By Seed Treatment
By Seed Trait
- Herbicide Tolerant
- Insecticide Resistant
- Other Stacked Traits
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA