According to the report “Global Seed Market", published by Market Data Forecast, the global market is projected to reach USD 99.53 billion by 2021, at a CAGR of 9.20% from 2016 to 2021.
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The Seed market is developing at a significant rate due to the rising demand for food and feed and rapid decline in arable land. High yielding cultivars/seeds along with other agricultural inputs such as crop protection products, fertilizers, and irrigation are being used to attain optimum utilization in the agriculture sector.
Farmers count on the seed industry to provide seeds that bring high yields and help reduce the cost of production. The global concerns about pollution are driving the increase in the use of biofuels. Biofuel offers various advantages when compared to fossil fuels in terms of reducing pollution, which is one of the primary reasons of governments taking up initiatives to produce biodiesel.
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Agriculture is a sector with enormous innovations and developments combining with the technology. Rising global population, increasing consumption of animal fodder, growing need for commodities such as vegetable oil, biofuels are the vital drivers for the growth of the global Seed market.
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1) Based on Crop Type:
• Grain seed
- millet crops
• Fruit & Vegetable
• Other seed
- clover & forage plants
- flower seed
2) Based on Seed Trait:
• Herbicide Tolerant
• Insect Resistant
• Other Stacked Traits
3) Geographical Segmentation:
• North America
• Latin America
• Middle East and Africa
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The major companies operating in the global Seed market are Monsanto, DuPont, Syngenta, AG, Dow AgroSciences LLC, Land O’Lakes Inc., and Bayer Crop Science. Existing companies such as Monsanto and Syngenta have been actively involved in the acquisition of regional players to strengthen their market presence. Key strategies such as investments in R&D are being employed by major companies to meet the growing Seed demand.
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