Global Seed Market: Overview
Seeds for flowers, vegetables, and fruits are produced by the seed companies and sold to amateur farmers. Commercial seeds and genetically modified seeds are the two major types of seeds available in the global seed market. Genetically modified seeds are seeds with the better genetic material, have better resistance to diseases, pests, and provides a better yield. The main aim of the seed market is to satisfy needs of the farmers, supply improved variety of seeds and provide the best quality of seeds at affordable prices. Increasing population and growing technological advancements are fueling the growth of the seed market.
Global Seed Market: Segmentation
The global seed market is segmented into its type, seed treatment, crop type, and geography. On the basis of type, the global market is divided into conventional or commercial seeds and genetically modified seeds. Commercial seeds include maize, soybean, vegetables, cereals, cotton, rice, canola, sunflower and sugar beet and genetically modified seeds include maize, soybean, cotton and canola. On the basis of seed treatment, the global seed market is segregated into treated and untreated seeds. Based on crop type, the global market is classified into oilseeds, fruits and vegetables and cereals and grains. Diversification of the global seed market on the basis of the region is seen into Asia Pacific, Latin America, North America, Europe, and Rest of the World.
Global Seed Market: Growth Factors
The global seed market is growing at a significant pace. A major factor influencing this growth is the need to increase agricultural production owing to the rising population. Another key factor boosting the growth is the use of bio-fuels. Use of corn for biofuels is expected to drive the market in the future. Also, increasing demand for maize and soybean as fodder feed is increasing the demand in the seed market. There is an immense scope of growth in the genetically modified seed area owing to the advancements made in technology. There is a high growth potential in untapped regions and emerging markets, which provide new growth opportunities for the global seed market. However, certain factors that restraining the growth of the seed market include protection provided by patent laws to genetically modified seeds making entry of new companies into the market difficult, safety hazards associated with the consumption of genetically modified seeds and stringent government rules on consumption of crops which are genetically modified.
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Global Seed Market: Regional Analysis
North America is the leading region in the seed market globally. Genetically modified seeds are expected to be the leading segment in North America, which is contributing towards the growth of this region. Growth in North America is closely followed by Asia Pacific and Europe. Extensive growth is predicted from the Asia Pacific region owing to the high consumption rate of commercial seeds in this region. In addition, other factors influencing the growth in Asia-Pacific are growing population and support provided by the government and national and international associations to increase agricultural production. Countries such as India, Japan, China, and Australia are the major seed markets in Asia Pacific region.
Global Seed Market: Competitive Players
Some of the major companies in the global seed market are Monsanto Co., Syngenta Int. AG, Bayer CropScience AG, Vilmorin & Cie SA, Dow AgroSciences, KWS SAAT AG, Sakata Seed Corp., Takii & Co. Ltd., AgReliant Genetics LLC, DLF-Trifolium, Groupe Limagrain, Land O’Lakes, Inc., Rallis India Limited, and E. I. du Pont de Nemours and Company.