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.
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.
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.
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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.
Market Segmentation of Commercial Seeds Market:
The Global Commercial Seed Market segmented on the basis of Product, Genetically Modified Seed Product, and Region.
By Product:
Maize (Corn)
Soybean
Vegetable
Cereals
Cotton
Rice
Canola (Rapeseed)
By Genetically Modified Seed Product:
Soybean
Maize (Corn)
Cotton
Canola (Rapeseed)
By Region:
North America
Europe
Asia Pacific
Central & South America
Rest of the World
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