Americas Seeds Market Size Worth $11.27 Billion By 2030

January 2023 | Report Format: Electronic (PDF)

Americas Seeds Market Growth & Trends

The Americas seeds market size is expected to reach USD 11.27 billion by 2030, registering a CAGR of 8.1% from 2023 to 2030 according to a new report by Grand View Research, Inc. The growing population and the resultant increase in demand for the grains used in staple food products are driving the demand growth in the market. Increasing government initiatives to provide monetary and technical support to local farmers is also expected to drive product demand during the forecast period.

Supportive government regulations and increasing funding in emerging and developing economies such as Peru and Paraguay are further expected to propel the agriculture sector in the forecast period, in turn having a positive impact on the seeds market. Automation of commercial greenhouses and rising implementation of the controlled environment agriculture (CEA) concept in greenhouses, in a bid to obtain a higher yield and maintain optimum growing conditions, are the key factors anticipated to drive demand during the forecast period.

Among crop types, soybean dominated the seeds market in 2022, in terms of revenue. Increasing demand for plant-based protein meals and the growing trend of veganism are driving the demand for soybean in the region. The high adoption of soybean in sports nutrition is further propelling the market growth. Increasing use of soy-derived products in processed and baked goods owing to their favorable nutritional attributes is fueling market growth. Rising demand for wheat protein as a meat substitute to produce tempeh and seitan is projected to drive demand for wheat during the forecast period.

The growing need for increasing the quality and yield of crops is driving the demand for GMO seeds. Increasing R&D and investments by the companies to introduce better varieties of GMO seeds in the market is further expected to propel the product demand. However, the popularity and adoption rate of conventional seeds is high among small farmers owing to their low prices compared to GMO seeds.

Strategic initiatives by the major players in the Americas seeds market such as RiceTec Inc., Bayer AG, Advanta Seeds, Corteva Agriscience, BASF SE, and Lima grain are expected to contribute to the market growth. These companies are focusing on expanding their operating strategies to increase their domestic and international presence and cater to the growing demand for seeds.

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Americas Seeds Market Report Highlights

Among types, the GMO segment accounted for the larger share of the market in 2022, with a market value of more than USD 4.0 billion. The increasing demand for GMO seeds can be attributed to their characteristics of increased crop yield and resistance to pests and insects
In the overall market, the herbicide tolerance trait accounts for the largest share of the market demand in 2022 and is expected to expand at a CAGR of nearly 9.0% during the forecast period. The high demand in this segment can be attributed to the rising need for weed management and crop quality improvement
The wheat segment was valued at more than USD 450.0 million in 2022 and is expected to be the second-faster growing crop type segment in the Americas seeds market. Wheat is one of the most important staple crops in the world, providing food for above one-third of the global population