Seeds Market Size Projected to Garner USD 119.6 Billion by 2032 growing at 5.4% CAGR - Exclusive Report by Acumen Research and Consulting
The Global Seeds Market Size is predicted to reach USD 119.6 Billion by 2032 from USD 67.0 Billion in 2022, at a CAGR of 16.4% between 2023 and 2032, as per the Acumen Research and Consulting
Seeds are the foundation of agriculture and play a crucial role in the world's food production. They are the reproductive units of plants that contain the genetic information necessary for plant growth and development. The seed market includes a wide variety of seeds, including grains, vegetables, fruits, and oilseeds, which are used to grow crops that feed people and animals. Over the years, the seed market has experienced significant growth due to several factors. The increasing global population, rising demand for food, and limited arable land have led to the adoption of modern agricultural practices that rely on high-quality seeds. Additionally, the increasing awareness of the health benefits of organic foods has led to a surge in demand for organic seeds, driving the market growth.
In recent years, the seed market has also witnessed a rise in demand for genetically modified (GM) seeds. GM seeds are engineered to resist herbicides, pests, and diseases, leading to reduced use of pesticides and herbicides, and higher crop yields. However, GM seeds have also sparked controversy due to concerns over their potential impact on the environment and human health. Another significant factor driving the growth of the seed market is technological advancements in seed breeding and biotechnology. Advances in seed genetics have led to the development of high-yielding and disease-resistant seeds, which are more productive and less susceptible to pests and diseases. This has resulted in higher crop yields, reduced costs, and increased profitability for farmers.
Seeds Market Statistics
- Global seeds market value was worth USD 67.0 Billion in 2022, with a 5.4% CAGR from 2023 to 2032
- Asia-Pacific seeds market share occupied around 38% in 2022
- The ICAR reports that certified seed production in India increased from 20.5 million quintals in 2014-15 to 34.2 million quintals in 2019-20
- According to the International Seed Testing Association (ISTA), the top five seed-producing countries in Asia are China, India, Japan, South Korea, and Thailand
- Growing demand for real-time threat intelligence and incident response, propel the seeds market revenue
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Seeds Market Trends
The seeds market is evolving rapidly, with the introduction of new technologies and innovative solutions aimed at improving seed quality, yield, and resistance to pests and diseases. One of the major trends shaping the seeds market is the increasing adoption of precision agriculture practices. Precision agriculture involves the use of advanced technologies such as drones, sensors, and GPS mapping to optimize crop production and minimize wastage. This trend is driving the demand for precision seed drills and other advanced seed technologies that can help farmers plant seeds more efficiently and effectively.
Another key trend shaping the seeds market is the rise of plant-based diets and sustainable agriculture practices. As consumers become more health conscious and environmentally aware, there is growing demand for crops that are nutritious, sustainable, and produced using environmentally friendly practices. This has led to the development of new seed varieties that are optimized for organic farming, as well as the adoption of regenerative agriculture practices that focus on building soil health and reducing the use of synthetic inputs.
The seeds market growth is also evolving in response to the changing regulatory landscape surrounding genetically modified organisms (GMOs). Many countries have introduced regulations that require labeling and testing of GMO seeds, and some have even banned their use outright. In response, seed companies are investing in new technologies such as gene editing that can produce crops with desirable traits without the need for genetic modification.
Seeds Market Segmentation
Acumen Research and Consulting has segmented the global seeds market by type, seed trait, crop type, and region.
- By type, the industry is categorized into genetically modified (GM) seed, and conventional seed.
- By seed trait, the market is divided into herbicide tolerant, insecticide resistant, and others.
- By crop type, the market is classified into cereals and grains, fruits and vegetables, oilseeds and pulses, and others.
- By region, the market is classified into Asia-Pacific, North America, Europe, Latin America, and the MEA.
Seeds Market Regional Overview
According to the seeds industry analysis, North America and Europe are major growing regions in the seeds market due to several factors. One of the key drivers of growth in these regions is the adoption of advanced agricultural practices, including precision farming, which relies heavily on high-quality seeds. These practices are aimed at maximizing crop yields while minimizing waste and environmental impact, and they require the use of high-performing seed varieties that are resistant to pests and diseases. In addition to advanced agricultural practices, North America and Europe also have highly developed research and development (R&D) infrastructures, which have helped drive innovation in the seeds market.
Seeds Market Players
Some of the prominent seeds market companies are Monsanto Company, Syngenta AG, Limagrain, Dow AgroSciences LLC, KWS SAAT SE, Sakata Seed Corporation, Groupe Limagrain Holding SA, Land O'Lakes, Inc., Takii & Co., Ltd., Rallis India Limited, and The Scotts Miracle-Gro Company.
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Mr. Frank Wilson
Acumen Research and Consulting
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