Commercial Seed Market Size, Share Growth, Trends and Forecast, 2032
According to a study by Fortune Business Insights, the increasing global population is set to drive higher food demand. The report, “Commercial Seed Treatment Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2032,” predicts that the global commercial seed treatment market will grow from USD 40.70 billion in 2017 to USD 54.81 billion by 2032, reflecting a consistent CAGR of 2.5%.
The reduction in arable land due to rising industrialization in emerging countries is negatively impacting crop productivity. However, government support and increased public awareness of modern farming techniques are helping farmers enhance their agricultural output. These government initiatives are advancing the global commercial seed market. Moreover, growing farmer subsidies are fostering the development of commercial seeds and improving crop management cycles. The low initial cost of crop production is also contributing to a stable supply-demand balance, which is expected to drive substantial market growth in the coming years.
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To boost agricultural productivity, farmers are increasingly encouraged to plant hybrid or biotech crops, significantly increasing the demand for commercial seeds. This rise is supported by various programs aimed at educating farmers on modern techniques that enhance agricultural yields. Crops grown with advanced agricultural technologies demonstrate improved resistance to abiotic stress and insect infestations. Consequently, the global commercial seed market is anticipated to grow, driven by the expanding adoption of innovative farming practices.
Using more high-yielding crops will lead to a rise in the market for commercial seeds.
As disposable incomes rise, resource consumption is projected to increase significantly, intensifying competition among farmers to boost crop production and driving higher consumer demand for commercial seeds. Advances in molecular biology have streamlined and reduced the cost of mapping plant genetic codes, expediting the production of commercial seeds. Consequently, these technological innovations are set to enhance seed output, effectively addressing the growing demand.
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Conversely, if major industrial crops such as rapeseed, maize, jojoba, cassava, oil palm, peas, guar, fiber hemp, cuphea, plantago, sunflower, sugar beet, safflower, and potato experience low profit margins, the commercial seed sector might encounter difficulties in boosting market sales. Government restrictions on the sale of certain crops could further hinder the commercial seed industry. Additionally, the ongoing ban on neonicotinoids may affect the development of commercial seeds during the forecast period. Despite these obstacles, the growing adoption of high-yield, high-value crops is expected to drive the expansion of the global commercial seed industry.
Marketing Campaigns to Promote Higher-Quality Seeds and Increase Demand
Looking ahead, the commercial seed sector’s growth potential will be bolstered by cost-effective crop protection solutions provided through seed treatment. However, increasing resistance of crops to these protection products could pose a challenge for the industry. Conversely, rising health awareness and the growing demand for fresh fruits and vegetables are expected to drive significant revenue for the fruit and vegetable seed segment throughout the forecast period. Additionally, the development of new hybrid vegetable seed varieties is anticipated to accelerate in the coming years.
The Asia-Pacific market is expanding rapidly as more farmers recognize the benefits of high-quality seeds. Supported by favorable government policies and regulations that promote the use of improved seeds, the Asia-Pacific commercial seed industry is set to become the fastest-growing market globally.
Major Players Profiled in the Report:
Key players in the global commercial seed industry include 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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