With 6.5% CAGR, Global Seed Market Size & Share Worth USD 107.8 Billion by 2030 | Seed Industry Trends, Demand, Value, Manufacturers, Analysis & Forecast Report by Zion Market Research

Seed firms manufacture and sell seeds for flowers, vegetables, and fruits to amateur growers. The two basic categories of seeds accessible in the global seed market are commercial seeds and genetically modified seeds. Genetically modified seeds have better genetic material, are more resistant to diseases and pests, and produce a higher yield. The primary goal of the seed market is to meet the needs of farmers by providing better varieties of seeds and high-quality seeds at reasonable costs. The seed market is expanding due to the rising population and technological improvements.

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Zion Market Research published the latest report titled "Seed Market By Trait (Herbicide-tolerance, Insect-resistance, and Others), By Type (Conventional and Genetically Modified), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030." into their research database.

Industry Dynamics:

Seed Market: Growth Drivers

The increasing knowledge associated with the benefits of vegetable consumption across the globe is expected to drive the growth of the global seed market during the forecast period. For instance, according to the World Health Organization, a lack of fruit and vegetable consumption causes approximately 1.7 million deaths worldwide. In addition, a lack of fruits and vegetables is one of the top ten risk factors for world mortality. Thus, adding fruits and vegetables to the daily diet may aid in the prevention of major non-communicable diseases. Growers all around the world are focusing on expanding vegetable production through the use of diverse agricultural inputs, including high-quality vegetable planting seeds. 

Seed Market: Restraints

A major global concern for agriculture productivity is climate change. Crop output is strongly impacted by climatic changes, and crops are vulnerable to pests and disease. This has an impact on crop health and changes how farming is done. The seasonal effects of temperature, precipitation, and humidity on disease and their formation and growth on seed material, which causes significant crop loss, have also been demonstrated by decades of research. Thus, the changing climatic condition is a major restraining factor for the market growth.

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Seed Market: Opportunities

The increasing demand for organic seeds is expected to provide a lucrative opportunity for global seed market expansion during the forecast period owing to the various advantages of organic products. Expanding organic seed systems has the potential to provide economic prospects for farmers who effectively grow organic seed on their farms. The economic benefits include being able to sell organic seed commercially, becoming more seed self-sufficient and lowering input costs, and lowering financial risks by having seed that is better suited to their farm. For instance, according to the International Federation of Organic Agriculture Movements (IFOAM), the global organic food sector is valued at approximately USD 112 billion. The global organic food seeds market was worth $355 million in 2020 and is predicted to expand to $480 million by 2025, at a 6.2% CAGR.

Seed Market: Challenges

The commercialization of fake hybrid seeds acts as a major challenge for the market expansion over the forecast period. For instance, the International Seed Federation claims that unlawful seed practices, such as the use of counterfeit seeds, counterfeit seeds, false seed labels, stolen intellectual property, and regulatory violations, have increased. Thus, acting as a major challenging factor for market growth.

Global Seed Market: Segmentation

Based on the trait, the global market is bifurcated into herbicide-tolerance, insect-resistance, and others. The herbicide-tolerance segment is expected to grow significantly during the forecast period owing to its various advantages such as excellent weed control, flexibility (possible to control weeds later in the plant growth), low toxicity, and others. For instance, according to an ASA study on tillage frequency on soybean fields, a large percentage of farmers implemented the "no-tillage" or "reduced tillage" practice after planting herbicide-tolerant soybean varieties. This basic weed management strategy saved over 234 million gallons of fuel while preserving 247 million tons of valuable topsoil. Moreover, according to a recent USDA analysis, herbicide use on GE corn jumped from around 1.5 pounds per planted acre in 2001 to more than 2.0 pounds per planted acre in 2010. During the same period, herbicide use on non-GMO corn remained largely stable. Thus, these facts support the market growth over the projected period.

Based on the type, the global seed is categorized into conventional and genetically modified. The genetically modified segment is expected to be a rapidly growing category in the seed market over the forecast period. Genetically modified seeds enable farmers to reduce their running costs significantly, for example, agrochemicals treatments, while guaranteeing a much more abundant harvest. They are therefore sold at a significantly higher price than conventional seeds. However, the conventional segment is expected to grow at a steady rate during the forecast period.

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Recent Developments

Regional Dominance:

North America is expected to hold the largest global seed market share over the forecast period. The growth in the region is attributable to the presence of leading biotech companies and high investment in research and development. For instance, according to the US Department of Agriculture, From $5.6 billion in 1994 to $11 billion in 2010, the aggregate total of private R&D spending in the seven agricultural input industries (crop chemicals, crop seeds & biotech traits, fertilizer, farm machinery, food animal health, animal nutrition, and animal genetics) climbed by an average annual growth rate of 3.6 percent (or, in inflation-adjusted dollars, by 1.4 percent per year). Between 1994 and 2010, R&D spending increased mostly due to improvements in crops, whereas spending on animal-related inputs remained practically steady after accounting for inflation. Crop seed and biotechnology traits experienced the fastest growth in agricultural R&D between 1994 and 2010. Spending on seed-biotechnology research expanded very quickly in the 1990s and between 2007 and 2010. In addition to this, the largest seed market is in the United States, where corn contributes significantly and accounts for 22.5% of that market. The use of biotech crops is primarily accountable for this. Thus, this will drive market growth over the projected period.

Besides, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Among important crops like rice, maize, and vegetables, the adoption of hybrids has increased, and seed replacement rates have risen. The region's hybrid rice still has excellent growth prospects. One of the biggest producers of rice worldwide is China. It recently began supplying foreign nations with rice seeds. For instance, in 2020 it helped Pakistan assure its grain supply by exporting 500 metric tons of hybrid rice seeds from a seed firm in Jiangsu province, east China. These seeds will be dispersed over an area of around 33,333 acres. Moreover, one of the most developed seed industries in the region is of India. Both the public and private sectors are crucial to the distribution and manufacturing of seeds. Growing R&D expenditures, accelerated adoption of hybrid seeds enhanced with various technology elements, such as seed treatments, and expanding international trade are the main drivers of India's private sector expansion. Corn (60%) and cotton (90%) are the two crops with the highest hybrid seed penetration in the nation. However, key grains like paddy and wheat still have relatively low penetration (less than 5%). Furthermore, vegetable seed production is boosted by the rising demand for processed vegetables in both residential households and the foodservice sector. India is renowned throughout the world as one of the top exporters of vegetable seeds.  

Global Seed Market is segmented as follows:

Seed Market: By Trait Outlook (2022-2030)

Seed Market: By Type Outlook (2022-2030)

Seed Market: By Crop Outlook (2022-2030)

Seed Market: By Region Outlook (2022-2030)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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