Seed is characterized as a small embryonic plant that plays an essential role in the reproductive process of plants. It performs many functions for plant, for instance dispersing to new locations, dormancy in unfavourable weather conditions and providing nourishment to the embryo. Energy crops like wheat, soybean, sugarcane, and corn, release minimum amounts of greenhouse gases & pollutants, and therefore increasingly preferred for bio-fuel production over the fossil fuels. Corn production is increased by the demands of the animal feed industry. Basically, corn and soybean crops are vastly utilized in the feed production. Growth in utilization of crops in the animal fuel industry & biofuels will fuel the growth of the global seed market.
Nowadays, increasing number of the
farmers buy commercially produced superior seed varieties as opposed to using
seeds from last harvest. This has been a result of numerous advantages offered
by enhanced varieties of seeds including high yield, reduced crop damage,
improved nutritional quality, disease resistance, etc. Furthermore, growth in
global population, surge in demand for food, coupled with expanding biofuel
production have also stimulated the demand for superior seed varieties
globally.
By product type, Seed market can be segmented as open-pollinated varieties, transgenic hybrids and non-transgenic hybrids. Transgenic hybrids segment is further sub-segmented as herbicide tolerant hybrids and insect resistant hybrids. By crop type, market can be segmented as pulses & oilseeds, fruits & vegetables, grains & cereals, cotton and others. Pulses & oilseeds segment is further sub-segmented as sunflower, canola, soybean and other seeds. Fruits & vegetables segment is further sub-segmented as roots & bulbs, solanaceae, cucurbits, brassicas, leafy vegetables and other fruits & vegetable. Additionally, grains & cereals segment is further sub-segmented as maize, sorghum, rice, wheat, and other grains & cereals. In addition, by seed type, market can be segmented as genetically modified seeds and conventional seeds.
The Seed market is driven by growth in usage of oilseeds by animal feed
manufacturers, followed by high demand for protein meals, rise in seed
replacement rate, increase in demand from the biofuel sector and high adoption
of biotech crops. Apart from this, price fluctuations in oilseeds, low yield of
crops in under-irrigated areas, impact of climate change on crop production and
high Research & Development (R&D) expenses on quality seed development
lead to high seed price are major hindering factors for market. Moreover,
Molecular breeding in seeds and rise in Demand for healthy & organic
processed products are leading opportunities for market. Furthermore,
commercialization of fake hybrid seeds and counterfeit products and lack of
availability & access to high-quality seeds are key challenges for global
market.
By regional analysis, the
North-America is a leading region in global
Seed market owing to rise in demand of agriculture products and
agriculture farms across the region. The Asia-Pacific and Europe regions are
estimated to exhibit substantial growth rate due to increase in demand for a
variety of vegetables among people and rise in need for more food production
activities over the forecast period. It is predicted that future of the global Seed market will be bright
because of rapid technological innovations in the production of seeds during
the forecast period.
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Ankur Gupta, Head Marketing &
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