Seed Market will project a compound annual growth rate (CAGR) of 7.80%,Trends

Data Bridge Market Research analyses that the seed market will project a compound annual growth rate (CAGR) of 7.80% during the forecast period of 2022-2029.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-seed-market

Seeds are embryonic plants with a protective layer that serve as the parent plant's unit of reproduction. They feed a variety of animal species and are an important part of the agricultural process. Seed's importance in the agriculture business has grown considerably in recent decades as a result of technological advancements and the consequent release of improved seed variants.

The rise in the adoption rate of biotech crops will emerge as the major factor fostering the growth of the seed market. Also, increase in the seed replacement rate, rising utilization of oil seed by animal feed manufacturers and growing demand from biofuel industry will influence the growth rate of seed market. Other factors such as major shift in farming practices and high growth in the demand for protein meals will cushion the growth of market.

Moreover, the increase in demand for healthy as well as organic processed food and advent of new technologies showing potential benefits over conventional ones will further create lucrative and remunerative growth opportunities for the seed market.

However, commercialization of fake hybrid seeds and counterfeit products and high cost of seed due to the high R&D expenses on quality seed advancement are the major factors that will challenge to the growth of the market. Also, variability in the prices of oil seeds, impact of climate change on crop production and low yield of crops in under irrigated areas will further derail the seed market growth rate.

Key Players Analysis"

Some of the major players operating in the seed market are Bayer AG, Syngenta Crop Protection AG, Corteva., Limagrain, KWS SAAT SE & Co. KGaA, East-West Seed, Land O'Lakes, Inc., and Enza Zaden Global, among others.

Global Seed Market Scope and Market Size

The seed market is segmented on the basis of product, crop, availability and type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of product, the seed market is segmented into transgenic hybrids, non-transgenic hybrids and open-pollinated varieties. Transgenic hybrids segment is further sub-segmented into insect resistant hybrids, herbicide tolerant hybrids.

On the basis of crop, the seed market is segmented into grains and cereals, pulses and oilseeds, cotton, fruits and vegetables and other crops. Grains and cereals segment is further sub-segmented into maize, rice, wheat, sorghum and other grains and cereals. Pulses and oilseeds segment is further sub-segmented into soybean, sunflower, canola and other seeds. Fruits and vegetables segment is further sub-segmented as cucurbits, roots and bulbs, brassicas, solanaceae, leafy vegetables and other fruits and vegetables. Other crops segment is further sub-segmented into alfalfa, flower seeds, turf grasses and other crops.

On the basis of availability, the seed market is segmented into commercial seeds, and saved seeds.

The seed market is also segmented on the basis of type into conventional seeds and genetically modified seeds.

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This release was published on openPR.