The companies covered in the commercial seeds market are Adama Agricultural Solutions, KWS SAAT SE, Groupe Limagrain, DowDuPont, Syngenta AG, Nufarm, Land O’lakes, Sakata Seed Corporation and Bayer CropScience (Monsanto), and other profiled players
Pune, India, October 13, 2021 (GLOBE NEWSWIRE) – The United Nations predicts the world’s population will exceed 10 billion by 2050, which should bode well for the world commercial seed market. The growing population will increase the demand for food, Fortune Business Insights ™ concludes in a new study. According to the study, the global commercial seed treatment market will be worth US $ 61.32 billion by 2025, up from US $ 40.7 billion in 2017, with a promising CAGR of 5.8%.
Increasing industrialization is reducing arable land in emerging countries, which has a negative impact on agricultural production. However, with government support and growing awareness of modern farming techniques, it is possible for farmers to increase the yields of their crops. Such initiatives taken by governments are stimulating the global market for commercial seeds. In addition, agricultural producers receive increasing subsidies to promote commercial seed production, subsequently ensuring a smooth production cycle and transparent crop management. A steady supply-demand balance ratio is maintained by a low initial cost of agricultural production, which will propel the market to exponential growth in the years to come.
Another important factor fueling the demand for commercial seeds is that farmers are encouraged to use biotech or hybrid crops for better agricultural production. This has been possible through various initiatives carried out to educate farmers on modern ways to improve crop yields. Plants grown using advanced technology are tolerant of both insects and abiotic stress. The increasing adoption of innovative agricultural practices will pave the way for the growth of the global commercial seed market.
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Growing use of high-yielding crops to increase demand for commercial seeds
The increase in disposable income of people is expected to lead to an increasing and unbridled consumption of resources. This will further fuel the demand for commercial seeds to improve crop yields compared to their agricultural seed counterparts. With advances in molecular biology, mapping the genetic codes of plants has become faster and cheaper. These advances are likely to stimulate commercial seed production.
On the other hand, the low margins set for the main industrial crops such as guar, fibrous hemp, cuphea, plantago, sunflower, sugar beet, safflower, potato, rapeseed, corn , jojoba, cassava, oil palm and peas can create challenges for the commercial seed market to generate more income in the market. Again, government regulations established for trade in specific crops can also hamper the commercial seed market. This, along with the existing ban on neonicotinoids, could hamper commercial seed production during the forecast period. Nonetheless, the increasing application of high-yielding value crops is likely to bode well for the global commercial seed market.
Promotional activities on improved quality seeds to stimulate the market
While the growing resistance of products to crop protection may challenge the future market, the fact that seed treatment offers a low cost crop protection solution will create better long-term growth opportunities. The fruit and vegetable seed segment with respect to the crop segment is expected to generate huge income during the forecast period due to the increasing popularity of health awareness among people and the higher demand for fresh fruits and vegetables from the farm. The development of a new variety of hybrid vegetable seeds is also expected to experience faster growth in the coming years.
The growing awareness among farmers of the benefits of using improved seeds is helping the market to develop in Asia Pacific. This, along with government support and initiatives encouraging the use of improved quality seed, is expected to boost the global commercial seed market in Asia-Pacific, making it the fastest growing region in the market.
Some of the players operating in the global commercial seeds market are Adama Agricultural Solutions, KWS SAAT SE, Groupe Limagrain, DowDuPont, Syngenta AG, Nufarm, Land O’lakes, Sakata Seed Corporation and Bayer CropScience (Monsanto).
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