The global commercial seed market size is anticipated to reach USD 92.32 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.1% over the forecast period. The increasing demand for food owing to rising global population is a significant factor driving the market. Moreover, the high yield and cost-effectiveness offered by Genetically Modified (GM) seeds are predicted to propel the product demand.
Reducing area of arable land owing to urbanization, desertification, and overall deterioration of soil quality. As a result, there is a significant need to increase the yield of the crops that are cultivated in the available land. Moreover, there are regions that face significant challenges in agricultural production owing to increasingly limited access to water resources. These factors are expected to boost adoption of highly efficient GM seeds.
The product guarantees a production, perfectly adapted to new industrial requirements, such as resistance to diseases and insects, shorter production cycles, simultaneous maturity, and homogeneity in production. The potential to replace farm seeds with commercial seeds remains significant in several countries like U.S., where agriculture is in the process of being modernized, and for certain crops in particular, such as wheat.
The commercial seed market is consolidated with top players accounting for significant market share. These players include Monsanto, Syngenta, DowDuPont, and Vilmorin & Cie. Acquisitions and launch of new facilities are the key strategies adopted by these companies. For instance, in February 2018, Syngenta completed the acquisition of Nidera seeds to gain competitive advantage and to increase market share.
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Further key findings from the report suggest:
Maize is anticipated to be the fastest growing product segment with a CAGR of 9.1% during the forecast period owing to its extensive utilization of the product as animal feed coupled with growing protein consumption in emerging regions
Soybean was estimated to account for a 19.6% revenue share of the commercial seed market in 2017 on account of significant consumption of soybean as oil and animal feed
In the category of genetically modified seeds, cotton is estimated to register the fastest CAGR of 9.8% due to high yield provided by Bt cotton coupled with low utilization of insecticides required in its production
Asia Pacific is predicted to expand at the fastest CAGR during the forecast period on account of the increasing requirement of higher yield on the available arable land
In February 2018, Syngenta acquired Nidera Seeds, a South American seeds manufacturer from COFCO International. This acquisition is expected to enhance Syngenta’s ability to be competitive in the industry and bring more value to its customers.
Grand View Research has segmented the global commercial seed market on the basis of product, genetically modified seed product, and region:
Commercial Seed Product Outlook (Revenue, USD Billion, 2014 - 2025)
Commercial Seed Genetically Modified Seeds Product Outlook (Revenue, USD Billion, 2014 - 2025)
Commercial Seed Regional Outlook (Revenue, USD Billion, 2014 - 2025)
Central & South America
Rest of the World
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