A seed is denoting to as a small embryonic plant that plays an essential role in the reproductive procedure of the plants. Seeds function numerous functions for the plant, such as delivering the nourishment to the embryo, dispersing to the fresh areas and dormancy in the unfavorable weather situations.
The significant augment in demand
for seeds from the food, beverage, animal feed, and biofuels industry are
propelling the growth of the market. Requirement for seeds has observed the
steady growth around countries such as China and India. With these regions
accounting for the largest populace, an ever-increasing requirement for food
grains also propels the seeds market growth. In developed markets, farmers are
wearisome to manage the crop yield and augment their returns. This sustained
method from developed and developing regions in agricultural practices has been
observing the global seeds market growth.
The COVID-19 pandemic seriously
pretentious the production, certification, circulation, and cost of seeds in
the preliminary months of the pandemic. Facing this hardship played a
fundamental role in improving the resilient agricultural segments and food
systems in the least developed regions. There was a lack of personnel available
for the production, transportation, and documentation procedures, convoyed by a
contraction in the market for plants and seeds. This generated the problems in
producing seeds for international trade and made admittance to high-quality
seeds of modern variabilities for domestic agriculture problematic.
Increasing requirement for grains,
oils, and vegetables, speedy adoption of biotech crops, and the deducting per
capita farmland are the foremost drivers for the market. The requirement to
introduce more from the diminishing per capita arable land to get greater
returns can be possible with HYVs and hybrid varieties. This trend has
motivated farmers to shift their aim from conventional seed sources to packaged
seeds that potential better returns.
During the present era, the North
America was the greatest geographical segment of the market studied. The
increasing demand for grains, oils, and vegetables is a proficient driver for
the seeds market. The United States is the foremost market for seeds in the
region. Asia-Pacific is the fastest-increasing and second-largest market for
seeds. Across Asia, the requirement for food has augmented exponentially over
the past years. Crop yield enhancement has become a requirement to meet this
requirement, thus fostering the market studied.
However, subordinate acceptance of
genetically adapted crops in several regions such as Europe and prolonged time
& extensive research included in the improvement of new seed varieties
having novel traits limit the growth of the Seed
Market. Introduction of advanced technologies having potential benefits
over conventional ones, improvement in seed replacement rate (SRR), and increment
in requirement for seeds in emerging economies are projected to deliver the
lucrative opportunities for market growth.
Although, the key companies in the seed market are effectively planning to expansion strategies such as joint venture, new product development, amalgamation, partnership, merger and acquisition and several others for ruling around the globe, obtaining the competitive edge and generating the high percentage of revenue. Therefore, in the near years, it is predicted that the market of seed will increase around the globe more effectively over the near future.
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Ankur Gupta, Head Marketing & Communications
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