Market Overview:

The global seed market, estimated at USD 75,600 million in 2022, is projected to reach a revised size of USD 114,400 million by 2030, growing at a CAGR of 5.30% over the forecast period 2022-2030.

Seeds are mature ovules containing embryos and nutrient stores within protective seed coats. They play a crucial role in the reproduction of flowering plants. Seeds are used in various food products like wheat, rice, maize, beans, peas, peanuts, and also in producing culinary oils from flax, cotton, soybean, sunflower, and more.

Market Drivers and Opportunities:

The adoption of biotech crops is on the rise, thanks to advancements in biotechnology, which create nutrient-dense and stress-resistant agricultural varieties. The use of genetically modified (GM) seeds offers benefits such as higher yields, resistance to pests and diseases, and improved nutritional content. Additionally, molecular breeding techniques are revolutionizing seed development, allowing for the selection of desirable genes in offspring and parents, leading to the creation of resilient seed varieties.

Expansion of Horticulture and Specialty Crops: The rising popularity of horticultural crops, such as fruits, vegetables, and specialty crops, creates opportunities for seed companies to develop tailored varieties for these markets.

Segment Analysis:

The seed market is segmented based on Type, Trait, Crop Type, and Seed Treatment. Among these, the genetically modified segment is anticipated to dominate the market over the forecast period due to its ability to enhance agricultural productivity, nutritional quality, and resilience to environmental stresses.

Genetic modification (GM) has indeed revolutionized the field of agriculture by offering various benefits and possibilities. Some key points to highlight about genetic modification in agricultural practices are:

Increased Agricultural Yields: One of the primary goals of genetic modification in crops is to enhance their productivity. GM crops are engineered to exhibit increased resistance to pests, diseases, and environmental stresses. This leads to higher yields and better quality produce.

Reduced Crop Damage: GM crops can be engineered to resist damage caused by weeds, insects, and diseases. This can reduce the need for chemical pesticides and herbicides, resulting in cost savings and environmental benefits.

Regional Insights:

Asia Pacific is expected to dominate the global seed market during the forecast period. The region's proximity to major agricultural producers like China and India drives the demand for seeds. Rising adoption of hybrid seeds and supportive policies further contribute to the region's growth.

Major Market Players:

Key players in the seed market include BASF SE, Bayer AG, Syngenta Group, KWS SAAT SE, Land O? Lakes, Sakata Seed Corporation, Groupe Limagrain, Corteva Agriscience, and others.

Recent Developments:

In June 2022, Corteva Agriscience, BASF, and MS Technologies? entered a trait licensing agreement to develop nematode-resistant soybean (NRS) trait Enlist E3? soybeans for farmers in the United States and Canada.

In May 2022, Syngenta Canada launched Pelta seed pelleting technology for Canola, optimizing seed size and uniformity, enhancing planter performance, seed placement, and stand establishment.

The global seed market is poised for substantial growth, driven by biotechnology advancements and molecular breeding techniques, especially in the Asia Pacific region. However, the COVID-19 pandemic has posed challenges to seed transportation and availability, necessitating immediate actions to support agricultural production and ensure food security. The dominance of genetically modified seeds and continuous developments by major players further shape the market's landscape.

Seed Market Segmentation:

By Trait

• Herbicide tolerance (HT)
• Insect resistance (IR)
• Other

By Type

• Genetically modified
• Conventional

By Crop Type

• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Others

By Seed Treatment

• Treated
• Non-Treated

For this report, Introspective Market Research has segmented the Seed Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

• US
• Canada
• Mexico

Eastern Europe

• Bulgaria
• The Czech Republic
• Hungary
• Poland
• Romania
• Rest of Eastern Europe

Western Europe

• Germany
• UK
• France
• Netherlands
• Italy
• Russia
• Spain
• Rest of Western Europe

Asia Pacific

• China
• India
• Japan
• South Korea
• Malaysia
• Thailand
• Vietnam
• The Philippines
• Australia
• New Zealand
• Rest of APAC

Middle East & Africa

• Turkey
• Bahrain
• Kuwait
• Saudi Arabia
• Qatar
• UAE
• Israel
• South Africa

South America

• Brazil
• Argentina
• Rest of SA