New York, March 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06030456/?utm_source=GNW
Shortage of personnel available for production, transportation, and documentation processes and a contraction in the market for plants and seeds had created problems in terms of the production of seed for international trade, as well as access to high-quality seed of modern varieties for domestic agriculture.
- Growing demand for grains, oils, and vegetables, and rapid adoption of biotech crops, along with the decreasing per capita farmland, are the major drivers for the market. The need for producing more from the decreasing per capita arable land to get higher returns can be possible with the use of HYVs and hybrid varieties. This trend has been encouraging farmers to shift their focus from conventional seed sources to packaged seeds that promise better returns.
- Hybrid seed exhibits a higher demand, as compared to varietal seeds in the market, owing to its built-in genetic buffering to withstand the biotic and abiotic stresses, such as moisture stress and salinity.
- In 2020, North America was the largest geographical segment of the market studied. The growing demand for grains, oils, and vegetables is a significant driver for the seeds market. The United States is the major market for seeds in the region. Asia-Pacific is the fastest growing and second-largest market for seeds. In Asia, the demand for food has increased exponentially over the past years. For the purpose of meeting this demand, the enhancement of crop yield has become a necessity, thus, boosting the market studied.
- The leading seed companies, like Bayer CropScience, Corteva AgriScience, and Syngenta, are dominating the market by giving more importance to seed production that are drought tolerant, heat tolerant , disease tolerant, etc.

Key Market Trends
Need for Improving Productivity amid Growing Demand for Food Crops

Grains constitute a major portion of world food demand (49%) and will remain so till 2050. According to the OECD-FAO report, global cereal consumption is projected to increase from 2.6 billion metric ton in 2018 to 2.9 billion metric ton in 2027. This is attributed to the growing demand for cereals for food and feed purposes. The per capita food consumption of cereals is anticipated to increase at a faster pace compared to the previous decade, as higher per capita use of maize, rice, and other coarse grains is only partly offset by slower growth for wheat.

Across major agricultural countries such as the United States, China, India, and Brazil, farmers are increasingly adopting transgenic seeds for both yield benefits and other non-yield traits. For instance, 92% of the area under cotton in India was sown with transgenic cotton with insect tolerance trait. Thus, in order to substantiate the increasing demand for grains, oils, and vegetables, governments of various countries have been promoting sustainable farming practices, thereby, bolstering the adoption of commercial seeds during the forecast period.

Asia-Pacific is the Fastest Growing Region

Asia-Pacific, dominated by the two major agricultural countries, India and China, is the fastest-growing geographical segment in the global seed market. The region is witnessing increased adoption of hybrids and increasing seed replacement rates in key crops such as rice, maize, and vegetables. Growth prospects remain high for hybrid rice in the region. China is one of the major rice producers globally. In recent years, it started exporting rice seeds to other countries. For instance, in 2020, it exported a total of 500 metric tons of hybrid rice seeds from a seed company in east China’s Jiangsu province to Pakistan, to help ensure the country’s grain yield this year. It is estimated that about 33,333 hectares of land will be planted with those seeds.

Furthermore, increasing demand for animal feed has been the major driver for the growth of the maize segment of the market in the region. Moreover, increasing demand for processed vegetables in domestic households and the foodservice industry is giving a boost to the vegetable seed industry

Competitive Landscape
The global seed market is a consolidated market. The major players in the market are Bayer Crop Science SE, Syngenta International AG, Corteva AgriScience, Groupe Limagrain, and KWS SAAT SE & Co. KGaA, among others. The major players in the market have a large geographical presence and a highly diversified product portfolio. These players focus on R&D, a large product portfolio, a wide geographical presence, an aggressive acquisition strategy.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06030456/?utm_source=GNW

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