USD 61.06 billion
Global Commercial Seeds Market Size, Share, Growth Analysis, By Product(Maize (Corn), Soybean), By Genetically Modified Seeds Product(Soybean, Maize (Corn)) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2338 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
70 |
Figures:
80
Global Commercial Seeds Market Insights
Global Commercial Seeds Market size was valued at USD 61.06 billion in 2022 and is poised to grow from USD 66.22 billion in 2023 to USD 126.71 billion by 2031, growing at a CAGR of 8.45% during the forecast period (2024-2031).
The global commercial seeds market is a crucial segment of the agriculture industry, responsible for supplying farmers with genetically improved seeds for crops. This market's analysis highlights its significance in addressing global food security challenges, as high-quality seeds are pivotal for enhancing crop productivity, improving yield potential, and ensuring sustainable agricultural practices. The market's growth is driven by several factors, including population growth, changing dietary preferences, and the need to increase agricultural output while minimizing environmental impact. Biotechnology innovations, such as genetically modified (GM) seeds, have significantly impacted the market by offering crops with enhanced resistance to pests, diseases, and adverse weather conditions.
However, regulatory considerations and public concerns regarding GM crops have led to mixed adoption rates across regions. The market is characterized by a diverse range of crop types, including cereals, oilseeds, fruits, vegetables, and more. There is a growing demand for seeds with traits like drought tolerance, disease resistance, and improved nutritional content. Additionally, sustainable agriculture practices and organic farming have driven the demand for non-GMO and organic seeds. Regional variations play a substantial role in the market, as climatic conditions, agricultural practices, and economic factors influence seed preferences. Developing economies are witnessing increased adoption of modern seeds due to rising incomes and urbanization, while mature markets are focusing on precision agriculture and advanced breeding techniques. Mergers and acquisitions among seed companies have led to a consolidated market landscape, characterized by a few major players dominating the industry. Intellectual property protection, including patents on seed traits and genetic material, has been a topic of debate within the market due to its potential impact on farmers' autonomy.
US Commercial Seeds Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Maize (Corn)
Fastest Growth
Maize (Corn)
Growth Rate
8.45% CAGR
Global Commercial Seeds Market ($ Bn)
Country Share for North America Region (%)
Global Commercial Seeds Market By Product ($ Bn)
Global Commercial Seeds Market By Product (%)
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Global Commercial Seeds Market Segmental Analysis
The global commercial seeds market is segmented on the basis of Product, Genetically Modified Seeds Product and region. By Product, the market is segmented into Maize (Corn), Soybean, Vegetable, Cereals, Cotton, Rice, Canola (Rapeseed), Others. By Genetically Modified Seeds Product, the market is segmented into Soybean, Maize (Corn), Cotton, Canola (Rapeseed), Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Commercial Seeds Market Analysis By Product
In the global Commercial Seeds market, Maize (Corn) holds a dominant position in the commercial seeds market. It is a staple crop with widespread global consumption, serving as a crucial ingredient in food, feed, and industrial applications. Its versatility and numerous uses make it a key focus for seed companies and agricultural stakeholders. The demand for maize seeds continues to be strong due to its significance in both developed and developing countries, supporting food security and various industries.
On the other hand, Soybean stands out as the fastest-growing segment in the commercial seeds market. It is driven by the increasing demand for plant-based protein sources, particularly in the context of growing health consciousness and dietary preferences. Soybean's diverse applications in food, animal feed, and industrial products contribute to its expanding market share. Moreover, the push for sustainable agriculture and crop rotation practices further boosts the adoption of soybean seeds, as they offer soil health benefits.
Analysis By Genetically Modified Seeds Product
Genetically modified maize (corn) seeds have established their dominance in the global commercial seeds market due to their widespread adoption in various agricultural practices. These seeds are engineered to possess traits like insect resistance, herbicide tolerance, and improved yield potential. The appeal of genetically modified maize lies in its ability to combat pests, reduce chemical usage, and enhance crop productivity. Major agricultural regions across the world rely on genetically modified maize seeds to address crop challenges and increase agricultural efficiency.
On the other hand, the fastest-growing segment in the global commercial seeds market is genetically modified cotton seeds. Genetically modified cotton offers traits such as insect resistance (via the Bt gene) and herbicide tolerance, enabling more efficient and sustainable cotton cultivation. These traits reduce the need for chemical pesticides and enhance the yield of cotton crops. The adoption of genetically modified cotton seeds is particularly significant in countries with high cotton production, where farmers are looking for solutions to manage pests and boost yield while minimizing environmental impact.
Global Commercial Seeds Market By Product, 2023 (%)
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Global Commercial Seeds Market Regional Insights
The global commercial seeds market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In the global commercial seeds market, North America stands out as a dominant region. With advanced agricultural practices, significant investments in research and development, and a strong emphasis on biotechnology, North America holds a significant share in the commercial seeds market. The region's adoption of genetically modified (GM) and hybrid seeds has contributed to its dominance, especially in crops like corn, soybeans, and cotton.
On the other hand, Asia-Pacific is one of the fastest-growing regions in the global commercial seeds market. The region's rapidly growing population, increasing urbanization, and changing dietary preferences have led to a surge in demand for various crops, including staples like rice, wheat, and vegetables. Governments and farmers in Asia-Pacific are increasingly recognizing the importance of adopting improved seed varieties to enhance agricultural productivity and meet the demands of a growing population.
Global Commercial Seeds Market By Geography, 2024-2031
- Largest
- Fastest
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Global Commercial Seeds Market Dynamics
Commercial Seeds Market Drivers
Population Growth and Food Security Concerns:
- The increasing global population necessitates a higher agricultural output to ensure food security. Commercial seeds, designed for improved yield, resistance to pests and diseases, and better nutritional value, play a crucial role in addressing these concerns.
Technological Advancements in Agriculture:
- Innovations in biotechnology, genetic engineering, and precision agriculture have led to the development of genetically modified (GM) and hybrid seeds that exhibit traits like drought resistance, enhanced nutrient content, and higher yield potential. These advancements drive the adoption of commercial seeds among farmers seeking improved productivity.
Commercial Seeds Market Restraints
Regulatory Hurdles for GM Seeds:
- The deployment of genetically modified seeds faces regulatory scrutiny in many regions due to concerns about environmental impact, consumer health, and intellectual property rights. This can limit the market's growth, particularly in areas with strict regulations.
Dependence on Few Seed Suppliers:
- A few large multinational corporations dominate the commercial seed industry, leading to concerns about reduced genetic diversity, limited choices for farmers, and potential monopolistic practices that could negatively impact small-scale farmers and seed sovereignty.
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Global Commercial Seeds Market Competitive Landscape
The global commercial seeds market exhibits a competitive landscape characterized by several key players striving for market share. Companies like Monsanto (now part of Bayer), Syngenta (part of ChemChina), DowDuPont (now Corteva Agriscience), and BASF are prominent in the market. These major players leverage their extensive research and development capabilities to introduce genetically modified and hybrid seeds that offer improved yield, resistance to pests and diseases, and enhanced nutritional value. The market also features regional and smaller players focusing on niche markets and specific crop varieties. Collaborations, partnerships, and acquisitions are common strategies employed to strengthen market presence and expand product portfolios. Regulatory compliance, intellectual property rights, and sustainability practices significantly impact the competitive landscape. Moreover, the push for sustainable agriculture practices and the adoption of organic farming methods are creating opportunities for companies specializing in non-genetically modified and organic seeds. In summary, the global commercial seeds market's competitive landscape is shaped by innovation, regulatory dynamics, and sustainability considerations, with a mix of major players and specialized companies vying for market positioning.
Commercial Seeds Market Top Player’s Company Profile
- Monsanto/Bayer - USA/Germany
- DuPont/Pioneer - USA
- Syngenta - Switzerland
- BASF - Germany
- Limagrain - France
- Advanta Seeds - India
- Land O'Lakes (WinField United) - USA
- Sakata Seed Corporation - Japan
- Groupe Grimaud - France
- KWS SAAT - Germany
- Takii & Co. - Japan
- Dow AgroSciences - USA
- Seminis - USA
- Rijk Zwaan - Netherlands
- Harris Moran - USA
- Vilmorin & Cie - France
- Enza Zaden - Netherlands
- East-West Seed International - Netherlands
- HM.CLAUSE - France
- Nunhems - Netherlands
- Bejo Seeds - Netherlands
- AgReliant Genetics - USA
- BrettYoung - Canada
- DLF Seeds - Denmark
- United Genetics Seeds - USA
Commercial Seeds Market Recent Developments
- In April 2022, Monsanto announced that it is investing $100 million in a new research facility in India. This facility will focus on developing new crop varieties that are resistant to pests and diseases, and that are also suitable for the Indian climate.
- In May 2022, Syngenta launched a new line of corn seeds that are designed to be more resistant to drought and pests. These seeds are expected to help farmers in drought-prone regions improve their yields and reduce their losses.
- In June 2022, a new variety of tropicalized lettuce was launched which is named Arunas RZ. This lettuce is specifically designed for tropical climates and is resistant to heat, drought and diseases. It is expected to help farmers in tropical regions increase their yields and improve their profits.
- In June 2022, Bayer company launched 'INH 16019', a hybrid rice seed with inbuilt tolerance to Brown Plant Hopper and bacterial Leaf Blight (BLB) in Bangladesh. This new rice seed is designed to help farmers in Bangladesh protect their crops from these two major pests.
- In July 2022, Corteva Agriscience, BASF and MS Technologies signed an agreement to develop next-generation Enlist E3 soybeans with the nematode resistant soybean (NRS) trait for farmers in the United States and Canada. This new trait is designed to help farmers protect their soybeans from nematodes, which are a major pest that can damage crops and reduce yields.
Global Commercial Seeds Key Market Trends
- Biotechnology and Genetically Modified (GM) Seeds: Biotechnology has revolutionized the commercial seeds industry. Genetically modified seeds are engineered to exhibit traits such as pest resistance, drought tolerance, and enhanced nutritional content. These traits offer benefits to both farmers and consumers, driving the adoption of GM seeds in various crops. However, the trend also raises concerns about environmental impact and food safety, leading to ongoing debates and regulatory scrutiny.
- Shift towards Sustainable and Organic Seeds: Increasing consumer demand for organic and sustainable products is driving a trend towards organic seeds and farming practices. Farmers are seeking non-GMO, open-pollinated, and heirloom seeds to cultivate crops that align with organic and sustainable certifications. This trend is also propelled by concerns over environmental degradation, soil health, and pesticide residues. As a result, seed companies are expanding their offerings of organic and non-GMO seeds to cater to this growing market segment.
Global Commercial Seeds Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global commercial seeds market analysis, the market is undergoing comprehensive analysis as it responds to the increasing demand for food security, sustainable agriculture, and advanced crop traits. Commercial seeds form the foundation of modern agriculture, catering to diverse crops with traits such as improved yield, disease resistance, and tolerance to environmental stressors. The market is driven by the growing global population, changing dietary preferences, and the need for enhanced crop productivity. Biotechnology innovations, including genetically modified (GM) and gene-edited seeds, are reshaping the industry by offering tailored solutions to agricultural challenges. Additionally, the emphasis on organic farming and environmentally friendly practices is influencing seed choices. The market's dynamics are influenced by regulatory frameworks, patent issues, and the geopolitical landscape. As farmers seek seeds that optimize resource utilization and mitigate climate impacts, traits like drought resistance and increased nutrient content are gaining significance. The global commercial seeds market is evolving due to population growth, agricultural sustainability goals, and technological advancements. The analysis highlights a market shaped by the pursuit of improved crop traits, regulatory considerations, and the imperative to address global food needs in a changing climate scenario.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 61.06 billion |
| Market size value in 2031 | USD 126.71 billion |
| Growth Rate | 8.45% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Commercial Seeds Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Commercial Seeds Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Commercial Seeds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Commercial Seeds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Commercial Seeds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Commercial Seeds Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Commercial Seeds Market Report Snapshots
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