New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Wheat Seed Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381353/?utm_source=GNW
Largest Segment by Country - United States : The United States is the fourth largest producer of wheat globally. It has increased the cultivation of wheat due to an increase in price and increase in the global demand.
Fastest-growing Segment by Breeding Technology - Hybrids : It is expected to increase in the future as there are a few hybrids available and companies are developing new hybrids with drought tolerance traits and disease resistance.
Fastest-growing Segment by Country - Ukraine : Ukraine witnessed the fastest growth because it is the largest producer of wheat in Europe and the adoption of hybrid seeds led to increase in the export of grains to Africa.
Wheat Seed Market Trends
Open Pollinated Varieties & Hybrid Derivatives is the largest segment by Breeding Technology.
Globally, in 2021, open-pollinated varieties and hybrid derivatives accounted for 95% of the wheat seed market due to OPV being self-pollinated and the lower cost of open-pollinated seed varieties.
In 2021, North America was the largest region using open-pollinated varieties and hybrid derivatives for the cultivation of wheat, accounting for 42% of the global wheat seed market. This is associated with the affordability and high availability of OPVs in the world.
Ukraine and the United Kingdom are the fastest-growing countries in the global OPV wheat seed market. Both countries are expected to register a CAGR of 7.6% during the forecast period due to the demand from farmers and the increase in the demand from international markets for wheat.
Globally, hybrids accounted for only 5.5% of the total wheat seed market in 2022, which is expected to increase by 43% due to the increase in the demand for high-yielding and input-efficient seed varieties.
Only non-transgenic wheat seeds are available in the global hybrid wheat seed market. Non-transgenic wheat seeds account for about 5.4% of the global wheat seed market. It is expected to increase by 43% during the forecast period, with an annual growth rate of 5.4%.
Japan holds the major share in hybrid varieties in Asia, accounting for 70% of wheat cultivated in Asia. Japan is followed by Bangladesh (6%) and the Rest of Asia (23%). Hybrid seeds can produce a 40% higher yield per hectare, which will help in the growth of the hybrid seed segment in the Asia-Pacific region.
Open-pollinated varieties require fewer inputs, such as fertilizers and pesticides, and they are more affordable for low-income farmers, which is expected to drive the OPV wheat seed market during the forecast period.
North America is the largest segment by Region.
The total wheat seed market in the world accounts for 7.3% of the global grain and cereals seed market in 2021, which is expected to increase by 35% by 2028 due to the increase in the high-yielding varieties and demand for consumption as it is the major staple food.
Globally, Europe was the biggest wheat seed market in 2021, with 32% of the total wheat seed market of the world being occupied by European countries. The favorable climatic conditions and demand from consumers and processing industries are expected to increase the market growth.
In Europe, Spain was the largest wheat seed market, accounting for 13% of the total European wheat seed market, and it is consistently growing. The United Kingdom, Turkey, and Ukraine are expected to register a CAGR of 7.6%, and they are the fastest-growing markets in the region. Improved open-pollinated seed varieties that are resistant to certain insects are being developed and made available for growers to cultivate higher yields with lower prices than hybrid seeds, which is expected to increase the income of growers.
After Europe, Asia-Pacific was the largest wheat seed market in the world, accounting for 30% of the total wheat seed market. The major countries in the region are China and Pakistan, which accounted for 6% of the global wheat seed market individually in 2021. The demand for consumption is increasing, but the acreage is declining in the region due to the unfavorable climate and the preference for other crops.
The increase in the demand for wheat, as it is the staple food of many countries, an increase in the availability of high-yielding varieties, increase in research in stress-tolerant and disease-resistant varieties by private companies are expected to be the driving factors of the wheat seed market in the forecast period.
Wheat Seed Market Competitive Analysis
The Global Wheat Seed Market is fragmented, with the top five companies occupying 31.85%. The major players in this market are Advanta Seeds - UPL, BASF SE, Corteva Agriscience, Groupe Limagrain and KWS SAAT SE & Co. KGaA (sorted alphabetically).
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