DUBLIN–(BUSINESS WIRE)–The “Hybrid Seeds Market – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering
The global hybrid seed market size is estimated to be valued at USD 25.2 billion in 2021 and is projected to reach USD 34.9 billion by 2026, recording a CAGR of 6.7%.
Factors such as increasing application of cereals & grains in the feed, food, and biofuels industry alongside growing technological advancements such as the adoption of hybridization and are propelling the growth of the hybrid seeds industry.
The recent COVID-19 pandemic is expected to impact the global seeds industry. The outbreak of COVID-19 has widespread implications on all the commodity markets, including seeds. North American seed market includes some of the key countries in the global seed market such as the US, Canada, and Mexico.
Canada and Mexico are dependent upon the US seed market for their seed requirement. The US seed industry is not seeing any seed shortages at the national or regional level. The home garden seed sector is seeing a huge spike in demand for product, and companies are working hard to keep up with that unprecedented demand.
The American Seed Trade Association (ASTA) is closely monitoring the global pandemic and its impact on the seed industry both domestically and globally. Disruptions in deliveries of seeds could reduce harvests and incomes for U.S. farmers who were hoping this year to sell more crops to China under the terms of a trade agreement signed in January.
Cereals & grains is projected to be the largest segment during the forecast period.
Cereals & grains is projected to hold the largest hybrid seeds market share since it is consumed on a large scale as a staple food. It is also being used in the food processing and feed industries. Some of the large producers such as China, India, US, and Brazil are catering to the growing international demand for cereal crops such as rice and corn. Increase in adoption of hybrid seeds in corn is also one of the key factors for the growth of the cereals & grains segment.
The tomato segment to witness the fastest growth during the forecast period.
Tomato is projected to grow at the highest CAGR during the forecast period, as tomato is grown extensively in the tropical and sub-tropical belts of the world. Countries such as the US, China, Italy, India, and Egypt are among the major producers of tomatoes. Together, they cater to the growing demand for this crop across the globe. The world production of tomatoes has also grown consistently since 2000, increasing more than 54% from 2000 to 2019. These factors cater to the growth of this segment during the forecast period.
Asia Pacific is estimated to account for the largest market share in the hybrid seeds market.
In 2020, Asia Pacific is estimated to account for the largest market owing to the growing adoption of hybrid seeds for crops such as corn, soybean, rice, and canola in the region. Countries such as the US and Canada are among the major seed producers in the world. The region is also a host to some leading players in the seeds business such as Corteva Agriscience (US), and Land O’ Lakes (US).
Premium Insights
- Increasing Need for Food & Feed to Accelerate the Growth of the Hybrid Seeds Market
- Corn Segment to Hold the Largest Share in the Hybrid Seeds Market in 2020
- Asia-Pacific to Witness the Largest Market Share in Other Crop Types in 2021
- China Accounted for the Largest Share in the Hybrid Seeds Market in 2020
Market Dynamics
Drivers
- Rise in Demand for Fruits & Vegetables Across the Globe
- Increase in Seed Replacement Ratio
- Increasing Use of Hybrid Seeds with Several Technological Components
- Rise in Mechanization of Farms
Restraints
- Impact of Climate Change on Crop Production
- Once Used Hybrid Seeds Cannot be Reproduced
Opportunities
- Demand for Healthy and Organic Processed Products
- Growth in Adoption of Hybrid Seed Technology for Vegetables
Challenges
- Unorganized New Entrants with a Low Profit-To-Cost Ratio
- Commercialization of Fake Hybrid Seeds and Counterfeit Products
- Initial Breeding of Hybrid Seeds is Expensive
Leading players profiled in this report
- BASF SE(Germany),
- Bayer AG (Germany)
- Syngenta Group (Switzerland)
- KWS SAAT SE (Germany)
- Land O’ Lakes (US)
- Sakata Seed Corporation (Japan)
- Groupe Limagrain (France)
- Corteva Agriscience (US)
- UPL Limited (India)
- DLF (Denmark)
- Longping Hi-tech (China)
- Rallis India Limited (India)
- Enza Zaden (The Netherlands)
- Takii & Co. Ltd (Japan)
- Barenbrug Holding B.V (Netherlands)
- FMC Corporation (US)
- Mahyco (India)
- Imperial Seed Company (Canada)
- Allied Seed LLC (US)
- Ampac Seed (US)
- SL Agritech Corporation (Philippines)
- BrettYoung (Canada)
- Rasi Seeds (India)
- Vikima Seed A/S (Denmark)
- CN Seeds (UK)
For more information about this report visit https://www.researchandmarkets.com/r/1zqbpe
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