Decreasing arable land along with growing population is anticipated
to fuel the global commercial seeds market growth over the next five
years. Growing population leads to increasing food demand which is
expected to witness a rapid growth in commercial seeds market. Rapid
urbanization across the globe has led to decrease in farmable land which
requires high productivity in the limited available area. Commercial
seeds are segmented on the basis of their type as biotech seeds and
conventional seeds. The major conventional seeds include maize, cereals,
soybean, vegetables, canola, rice and cotton.
Biotech/Genetically Modified seeds are engineered to exhibit to
enhance insect resistance property and shelf life. Growing concern
towards hybrid seeds usage and regional governments favorable
regulations for biotech seeds use are projected to drive the commercial
seeds market growth over the forecast period. Government supports such
as subsidies incentives and loans to farmers in various Asia Pacific
nations to increase agriculture products yield are expected to bolster
the market growth.
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Technology advancement in seeds which improves product yield and also
protects from insect attack is also responsible for the market growth.
As a result of worldwide acceptance, various crops are being developed
under biotech seeds segment which is also anticipated to support the
market growth. Growing technical support to the farmers particularly in
Asian countries for high yield has shown significant growth in the
market. However these seeds have witnessed negative impact such as soil
erosion, poisonous weed creation and threats to some species. This is
expected to hinder the global market growth over the forecast period.
Conventional seed dominated the global commercial seed market
accounting for over 53% of the total consumption in 2013. Maize seeds
contributed to the highest demand followed by soybean and vegetable
accounting for over 44% of the total demand in 2013. Maize is
anticipated to sustain the largest market and cotton is expected to
witness fastest growth over the next five years. Biotech seeds are
projected to attain fastest growth accounting for over 10% CAGR over the
forecast period. Soybean was the dominant market accounting for over
43% of the total revenue in 2013. Increasing soybean demand for biofuel
production is anticipated to boost the market in the near future.
North America was the largest commercial seeds market accounting for
over 31% of the total revenue in 2013. This is owing to existence of
major market players in the region and growing technical advancements to
develop low cost processing methods. No regulations on export and
import have also supported the market growth. Latin America is
anticipated to witness fastest growth accounting for 7.5% CAGR over the
forecast period. It is also projected to dominant biotech seed segment
in the near future accounting for 11% CAGR. Asia Pacific is anticipated
to witness considerable growth accounting for 7.4% CAGR over the
foreseeable future. This is because of growing population leading to
increasing consumption in the region particularly in China and India.
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Many acquisitions and mergers have taken place in the market since
2001. This has led to considerably consolidated market. Future trend is
expected to lead the market towards oligopolistic scenario owing to
further acquisitions and mergers of small existing participants. The
major market players include DuPont Pioneer, Monsanto Company, Syngenta
Interntional AG and Vilmorin & Cie SA, Bayer Crop Science and DOW
AgroSciences.
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