Posted on 17 Jun 2017
Seeds represent one of the basic and most important parts of the agriculture industry. A new research report titled, “Global Seeds Market: Global Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2017 to 2022”, by Syndicated Analytics estimates that the market was worth US$ 58 Billion in 2016, registering a CAGR of 7% during the year 2009-2016. The report further anticipates the market to cross US$ 85 Billion by 2022, at a projected CAGR of more than 6% over the forecast period.
The market has experienced several technological innovations over the past several years. Efforts have been made to improve the yield and nutritional quality of the seeds. Furthermore, manufacturers have been introducing different seed varieties which are resistant to certain diseases, draughts and other climate changes.
Different seed varieties are being developed and used worldwide, influenced by their various advantages. One of the major growth inducing factors is the significant shift in the farming practices with a focus on modern and more efficient equipment and inputs. Another major factor is the decline in arable land which has spurred the demand for high yielding seed varieties. This has also been influenced by the growth in the global population and the consequent increase in the food requirements.
However, there are several factors that hamper the market growth. The distribution of substandard and counterfeit seeds, particularly in the developing countries, poses a major threat to the manufacturers. Low product awareness among the consumers also inhibits the market growth.
There are different types of seeds available in the market such as fruit seeds, grain seeds, vegetable seeds, oil seeds, etc. Among these, grain seeds represent the most popular seed type accounting for nearly a half of the total global market share. This can be accredited to the huge demand for grains in both developed as well as developing markets. Grain seeds were followed by oil seeds, vegetable seeds and fruits seeds.
On a geographical front, North America enjoys a leading position in the global seeds market on account of the technological advancements in the region. Increasing population and the subsequent demand for food have also contributed to its growth. The region accounts for around a third of the total global production of seeds. North America is followed by Asia Pacific, Europe, Latin America, and Middle East and Africa.
The global seeds market is highly concentrated owing to the monopoly of big manufacturers. There is an intense competition in the market which makes it difficult for small players to survive without any acquisition. Currently, Monsanto represents the largest player operating in the market. Some of the leading players are:
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