Biotech Crops Enter The Seeds Market Trends, Helping Drive The Market To $73 Billion By 2026 As Per The Business Research Company's Seeds Global Market Report 2022
TBRC’s market research report covers seeds market size, seeds market forecasts, major seeds companies and their market share, key strategies to undertake, and more.
/EIN News/ -- LONDON, June 30, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the seeds market, the high adoption of biotech crops is significantly contributing to the growth of the seeds market. Biotech crops are genetically modified crops that involve technology to produce a GM plant. The high adoption of biotech crops is promoting the production of a large number of seeds to meet the demand. For instance, according to the International Service for the Acquisition of Agri-biotech Applications (ISAAA), a US-based non-profit international organization that shares agricultural biotechnology, in 2019, 17 million farmers planted 190.4 million hectares of biotech crops and 56% of the global biotech hectares were planted by 24 developing countries. Therefore, the high adoption of biotech crops is driving the growth of the seeds market.
The global seeds market share is expected to grow from $55.1 billion in 2021 to $58.28 billion in 2022 at a compound annual growth rate (CAGR) of 5.8%. The global seeds industry growth is expected to reach $73.07 billion in 2026 at a CAGR of 5.8%.
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Technological advancements are gaining prominence among seeds market trends. Major companies operating in seeds are focused on adopting advanced technologies to reduce the cost and improve the quality. For instance, in October 2019, Kaveri Seeds, an India-based agriculture company, planned to adopt genetic male sterility (GMS) technology to produce hybrid cotton seeds. The GMS technology helps in identifying female lines at the seedling stage itself and reduces the cost of hybrid cotton seeds.
Major players in the seeds market are BASF SE, Bayer Cropscience AG, Syngenta AG, KWS SAAT SE & Co. KGaA, Land O’Lakes Inc., Sakata Seed Corporation, Limagrain, Corteva Agriscience, UPL Limited, DLF Seeds A/S, Rallis India Limited, Enza Zaden, Takii & Co. Ltd, AgReliant Genetics, Advanta Limited, Dow Agrosciences LLC, and Yuan Longping High-tech Agriculture Co. Ltd.
The global seeds market is segmented by type into genetically modified, conventional; by seed treatment into treated, non-treated; by crop type into cereals and grains, fruits and vegetables, others; by trait into herbicide-tolerant, insecticide-resistant, others.
North America was the largest region in the seeds market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global seeds market during the forecast period. The regions covered in the global seeds market outlook analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Seeds Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide seeds market overviews, seeds market analyze and forecast market size and growth for the whole market, seeds market segments and geographies, seeds market trends, seeds market drivers, seeds market restraints, seeds market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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