Dummy Global Market Report 2023

Dummy Market Size, Trends, And Global Forecast 2023-2032

Name: Dummy Global Market Report 2023
Creator: The Business Research Company
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Dummy Global Market Report 2023

Starting Price : $1.00 | Pages : 175 | Published : August 2023 | Delivery Time: 2-3 business days | Format : pdf

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Seeds Market Definition

A seed is a small, hard object produced by a plant that contains an embryonic plant, stored material and a protective coat or coats. It is the ripened fertilized ovule of a flowering plant containing an embryo, capable normally of germination to produce a new plant. These guarantee the genetic and physical integrity of the crops, provide the required plant population and provide the plants with the ability to survive harsh situations. Seeds are available in a variety of shapes and sizes and a lot of the variation relates to dispersal mechanisms. Seeds contain high protein, starch and oil reserves that help in the early stages of growth and development in a plant.

The seeds market consists of the sales, by entities (organizations, sole traders and partnerships), of seeds that are used in agriculture to grow crops.

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Seeds Market Size

The global seeds market reached a value of nearly $62,233.4 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.2% since 2017. The market is expected to grow from $62,233.4 million in 2022 to $81,903.3 million in 2027 at a rate of 5.6%. The market is then expected to grow at a CAGR of 6.9% from 2027 and reach $114,603.2 million in 2032.

Growth in the historic period resulted from the growing demand for animal feed, rising government initiatives for seed quality and crop productivity and increasing demand for organic food products. Factors that negatively affected growth in the historic period included the availability of counterfeit seeds.

Going forward, the high adoption of biotech crops, increasing shift towards vegan eating, growing implementation of sustainable agricultural practices and rise in growth of the agriculture sector will drive the market. Factors that could hinder the growth of the seeds market in the future include greenhouse gas emissions from agricultural production.

Seeds Market Drivers

The key drivers of the seeds market include:

High Adoption Of Biotech Crops

The high adoption of biotech crops is expected to propel the growth of the seeds market going forward. Biotech crops are genetically modified crops that involve technology to produce a genetically modified (GM) plant. The high adoption of biotech crops is promoting the production of a high number of seeds to meet the demand. For instance, in August 2022, according to a report shared by the Food and Drug Administration, a US-based federal agency of the Department of Health and Human Services, in 2020, 94% of the soybeans planted were genetically modified organisms (GMO), 96% of the cotton grown was GMO and 92% of the corn planted was GMO. In the US, GMO crops are consumed by over 95% of livestock, including dairy cows. Therefore, the high adoption of biotech crops will drive the seeds market during the forecast period.

Seeds Market Restraints

The key restraints on the seeds market include:

Greenhouse Gas Emissions From Agricultural Production

The greenhouse gas emissions leading to climate change and global warming are expected to impact the seeds market during the forecast period. The increase in the earth's average surface temperature, due to an increase in carbon dioxide emissions and deforestation, is called global warming. Agriculture produces a substantial amount of greenhouse gas emissions, which contribute greatly to global warming and climate change. For instance, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, agricultural activities contribute approximately 30% of total greenhouse gas emissions, mainly due to the use of chemical fertilizers, pesticides and animal wastes. Therefore, the greenhouse gas emissions from agricultural production will limit the growth of the seeds market.

Seeds Market Trends

Major trends shaping the seeds market include:

Development Of New Plant Breeding Techniques To Increase Crop Yield (ADAS)

Companies in the market are focusing on developing new plant breeding techniques to increase crop yield. Plant breeding is the process of creating new plant varieties with desirable characteristics through controlled mating and selection. In March 2023, Corteva Agriscience, a US-based agriculture and seed company, introduced a new plant breeding innovation to fight against corn disease. The innovation uses a novel gene editing technology that will add another layer of protection for hybrid corn and protects it from disease and is a new and innovative plant breeding procedure. This technology bolsters disease tolerance and minimizes production stress. It could also result in healthier plants and increase yield potential even further.

Launch Of Hybrid Vegetable And Rice Seeds To Improve Plant Quality

Major companies operating in the seeds market are increasing their focus on introducing hybrid vegetable seeds to gain a competitive edge in the market. Hybrid vegetable seeds are seeds produced by crossbreeding two different parent plants of the same species, each with desirable traits. These hybrid seeds are specifically bred to combine the best characteristics of the parent plants, resulting in plants with improved qualities. For example, in January 2021, Bayer AG, a Germany-based pharmaceutical and life sciences company, introduced four new varieties of Seminis vegetable seeds, including Anshuman in tomato, SVHA9093 in hot pepper, Bazlet in cucumber and Himgauri in cauliflower. These innovative next-generation hybrid seeds were developed in response to changing consumer tastes and preferences. Further, in June 2022, Bayer, introduced a hybrid rice seed named 'INH 16019' in Bangladesh. This seed has been engineered with inbuilt tolerance to Brown Plant Hopper (BPH) and Bacterial Leaf Blight (BLB), two common threats to rice crops in the region.

Opportunities And Recommendations In The Seeds Market

Opportunities – The top opportunities in the seeds market segmented by type will arise in the genetically modified segment, which will gain $11,934.8 million of global annual sales by 2027. The top opportunities in the seeds market segmented by crop type will arise in the cereals and grains segment, which will gain $8,731.2 million of global annual sales by 2027. The top opportunities in the seeds market segmented by traits will arise in the herbicide-tolerant segment, which will gain $8,939.4 million of global annual sales by 2027. The top opportunities in the seeds market segmented by seed treatment will arise in the treated segment, which will gain $17,050.1 million of global annual sales by 2027. The seeds market size will gain the most in China at $6,530.5 million

Recommendations- To take advantage of the opportunities, The Business Research Company recommends the seeds companies to focus on development of new plant breeding techniques to increase crop yield, focus on launch of hybrid vegetable and rice seeds to improve plant quality, focus on increased use of new seed pelleting technology for accurate sowing, focus on integration of digital technology in seed yielding, focus on developing novel seed treatment technologies, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and collaborations, provide competitively priced offerings, focus on premium pricing, participate in trade shows and events and increase focus on online consumers.

Seeds Market Segmentation

The seeds market is segmented by type, by crop type, by traits and by seed treatment.

By Type –
The seeds market is segmented by type into:

a) Genetically Modified
b) Conventional

The genetically modified market was the largest segment of the seeds market segmented by type, accounting for 58.7% or $36,512.6 million of the total in 2022. Going forward, the genetically modified segment is expected to be the fastest growing segment in the seeds market segmented by type, at a CAGR of 5.8%.

By Crop Type –
The seeds market is segmented by crop type into:

a) Cereals And Grains
b) Fruits And Vegetables
c) Oilseeds And Pulses
d) Other Crop Types

The cereals and grains market was the largest segment of the seeds market segmented by crop type, accounting for 45.4% or $28,272.1 million of the total in 2022. Going forward, the oilseeds and pulses segment is expected to be the fastest growing segment in the seeds market segmented by crop type, at a CAGR of 5.8%.

By Traits –
The seeds market is segmented by traits into:

a) Herbicide-Tolerant
b) Insecticide-Resistant
c) Other Traits

The herbicide-tolerant market was the largest segment of the seeds market segmented by traits, accounting for 47.4% or $29,502.2 million of the total in 2022. Going forward, the other traits segment is expected to be the fastest growing segment in the seeds market segmented by traits, at a CAGR of 5.9%.

By Seed Treatment –
The seeds market is segmented by seed treatment into:

a) Treated
b) Non-Treated

The treated market was the largest segment of the seed market segmented by seed treatment, accounting for 83.3% or $51,863.5 million of the total in 2022. Going forward, the treated segment is expected to be the fastest growing segment in the seed market segmented by seed treatment, at a CAGR of 5.8%.

By Geography - The seeds market is segmented by geography into:

• China
• India
• Japan
• Australia
• Indonesia
• South Korea

• USA

• Brazil

• France
• Germany
• UK

• Russia

Asia-Pacific was the largest region in the seeds market, accounting for 48.3% or $30,084.2 million of the total in 2022. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the seeds market will be Asia-Pacific and South America, where growth will be at CAGRs of 6.1% and 6.0% respectively. These will be followed by North America and Western Europe, where the markets are expected to grow at CAGRs of 5.5% and 5.1% respectively.