Global Seed Market

Seed Market Size, Share, Growth Analysis, By Type(Genetically Modified (GM) Seed, Conventional Seed), By Crop(Field Crops, Cotton, Corn, Rice), By Seed Treatment(Commercial Seeds, and Saved Seeds), By Seed Trait(Treated, and Untreated), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15A2379 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 131 |Figures: 73

Seed Market Insights

Global Seed Market size was valued at USD 53.95 Billion in 2022 and is poised to grow from USD 56.9 Billion in 2023 to USD 82.04 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

India's growing population and its abundance of fertile arable lands across diverse agro-climatic zones stand as pivotal factors positively shaping the market landscape. The country's robust seed industry is propelled not only by these favorable conditions but also by the commercialization of agriculture and the collaborative efforts between the private and public sectors.

Notably, leading seed breeders are at the forefront of integrating advanced digital technologies to empower farmers in combating challenges posed by pests, climatic variations, and other environmental factors. This strategic adoption of digital solutions significantly contributes to the market's growth trajectory by enhancing agricultural productivity and resilience.

Market Snapshot - 2024-2031

Global Market Size

USD 53.95 Billion

Largest Segment

Conventional Seed

Fastest Growth

Growth Rate

5.8% CAGR

Global Seed Market ($ Bn)
Country Share for North America Region (%)

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Seed Market Segmental Analysis

The global Seed market is segmented into Six segments i.e. by Crop, Availability, Type, Seed Treatment, Seed Trait and Region. Based on Type the market is segmented as, Genetically Modified (GM) Seed, Conventional Seed. Based on Crop the market is segmented as, Field Crops, Cotton, Corn, Rice, Wheat, Millet, Sunflower, Sorghum, Fruit & Vegetable Crops, Tomato, Okra, Chili, Melon, Gourds, Cabbage, Cauliflower, Cucumber, Others (Eggplant, Pumpkin, Radish and Carrot). Based on Availability the market is segmented as, Commercial Seeds, Saved Seeds. Based on Seed Treatment the market is segmented as, Treated, Untreated. Based on Seed Trait the market is segmented as, Herbicide Tolerant, Insecticide Resistant, Other Stacked Traits. Based on Geography the market is segmented as, North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia-Pacific, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, LAMEA, Brazil, South Africa, Saudi Arabia, Turkey, Rest of LAMEA.

Analysis by Type

The genetically modified (GM) seed segment stands as a keystone within the seed market, playing a pivotal role in revolutionizing modern agricultural practices. Engineered with precise traits such as resistance to pests, tolerance to herbicides, or fortified nutritional content, GM seeds have reshaped farming methodologies. Their introduction has ushered in a wave of advantages, significantly impacting agricultural productivity. GM seeds offer a myriad of benefits, notably including amplified crop yields, a reduction in reliance on chemical pesticides, and enhanced resilience in the face of environmental stresses.

The conventional seed segment stands as a foundational pillar within the expansive seed market, relying on traditional breeding techniques without genetic modification to cater to a substantial share of global agricultural practices. These seeds are the result of meticulous and time-tested breeding methods, offering a wide array of crop varieties tailored for diverse agricultural needs.

Analysis by Crop

The field crops segment stands as a pivotal keystone within the seed market, housing a diverse array of crops cultivated extensively for food, feed, and industrial applications. This segment features key staples such as corn, wheat, soybeans, rice, barley, sorghum, and more, forming the bedrock of global agricultural practices. These crops serve as indispensable components in the world's agriculture, fulfilling multifaceted needs across a spectrum of sectors.

The cotton segment stands as a pivotal and indispensable component in the seed market owing to the unparalleled importance of cotton as a crucial cash crop on a global scale. Cotton seeds stand as the essential foundation for cultivating one of the most extensively grown crops globally, valued primarily for its fibers crucial in textile manufacturing. Serving as the cornerstone of cotton cultivation, these seeds are pivotal in meeting the unrelenting demand for raw materials within the textile industry. The fibers derived from these seeds are integral in the creation of a myriad of clothing and textile products, playing a central role in the production of fabrics that are integral to numerous aspects of everyday life.

Global Seed Market By Type, 2023 (%)

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Seed Market Regional Insights

Asia-Pacific emerged dominance in the global seed market as of 2022 and is further projected to continue dominating the market in the coming years. This region holds a formidable agricultural landscape, characterized by diverse agro-climatic conditions and expansive arable lands, facilitating robust agricultural practices. The dominance of this region also stems from multiple factors, such as the presence of a large population that automatically augments heightened food production, coupled with an evolving agricultural sector that embraces technological advancements. This, coupled with the rise in governmental initiatives that fosters agricultural innovation and modernization is also projected to aid in regional market expansion.

North America emerged as the largest market for seed, a trend projected to persist significantly throughout the forecast period. North America's stronghold in this domain reflects its advanced agricultural practices, technological innovations, and a robust economy supporting extensive seed utilization. The region's focus on high-yielding crops, coupled with a strong emphasis on research and development, positions it as a pivotal player in the global seed market.

Global Seed Market By Region, 2024-2031
  • Largest
  • Fastest

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Seed Market Dynamics

Drivers

Rise in Awareness among Farmers

  • A prevailing surge in farmers' awareness regarding the advantages of hybrids and biotech crops is anticipated to significantly propel the global seed market. Recent advancements in seed technologies, showcasing an array of advantageous traits such as heightened yields, enhanced quality, resistance to pests, tolerance to abiotic stresses, and suitability for animal feed, are driving a notable shift in farmer preferences. These innovative seed varieties, with their diverse beneficial attributes, are increasingly enticing farmers to choose them over traditional farm-saved seeds for crop cultivation.

Restraints

Stringent Regulatory Frameworks to Impede Market Growth

  • The seed market faces notable constraints attributed to stringent regulatory frameworks and intricate approval procedures surrounding genetically modified organisms (GMOs) and biotech seeds. These stringent regulations often present challenges, creating delays in introducing new seed varieties to the market. Moreover, concerns regarding intellectual property rights, particularly in the realm of genetically modified seeds, spark legal complexities and controversies, acting as significant hurdles to market expansion.

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Seed Market Competitive Landscape

The competitive environment of the global Seed Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.

Top Player’s Company Profiles

  • Ajeet Seeds Private Limited
  • S&W Seed Company
  • Ankur Seeds Pvt. Ltd.
  • Beijing Dabeinong Technology Group Co., Ltd.
  • Rasi Seeds (P) Ltd.
  • China National Seed Group Corp.
  • Emerald Seed, Inc.
  • Gansu Dunhuang Seed Co., Ltd.
  • Henan Goldoctor Seeds Co., Ltd.
  • Jiangsu Dahua Seed Group Co., Ltd.
  • Kaveri Seed Company
  • Nuziveedu Seeds Ltd.
  • Nunhems Seeds Private Ltd.
  • Rallis India Limited
  • Shriram Bioseed Genetics India Limited Company
  • Takii & Co. Ltd.

Recent Developments

  • In July 2022 marked a significant milestone as Cortiva Agriscience, BASF, and MS Technologies joined forces in a collaborative endeavor aimed at advancing the next iteration of Enlist E3 soybeans. Through a strategic agreement, their collective focus revolved around integrating the nematode resistant soybean (NRS) trait into this innovative soybean variety, specifically tailored to benefit farmers in the United States and Canada. This collaboration aimed to introduce soybean varieties fortified with enhanced resistance against nematodes, addressing a critical concern for farmers and fortifying crop resilience.
  • In June 2022, a noteworthy event unfolded with the launch of Arunas RZ, a novel tropicalized lettuce variety. This introduction is poised to carve a significant path in bolstering the company's market presence. The debut of Arunas RZ represents an innovative addition to the company's product portfolio, anticipated to garner attention and market traction due to its distinctive traits. Positioned to meet the evolving demands of consumers and the agriculture industry, this lettuce variety is poised to make substantial strides and contribute to the company's growth.

Seed Key Market Trends

  • The growing adoption of biotech crops stands as a pivotal force propelling the expansion of the seed market. This notable surge finds its roots in the strides made within biotechnology, enabling the creation of crops imbued with superior traits that enhance their resilience, yield, and overall quality. Advancements in biotech have fostered the development of crops better equipped to withstand various challenges, meeting the evolving needs of agricultural practices. The increasing utilization of oil seeds by animal feed manufacturers, coupled with the growing demand from the biofuel industry, further amplifies the market's growth trajectory.

Seed Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

The global Seed market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. Seed industry is experiencing positive growth due to several key factors. The country's expanding population and its abundance of fertile arable lands across diverse agro-climatic zones play a pivotal role in shaping the market landscape. Additionally, the commercialization of agriculture and the collaborative efforts between the private and public sectors are driving the seed industry's advancement in India. Notably, leading seed breeders are actively integrating advanced digital technologies into farming practices to assist farmers in addressing challenges posed by pests, climate variations, and other environmental factors. This strategic adoption of digital solutions contributes significantly to market growth by empowering farmers with tools to enhance agricultural productivity and resilience.

Report Metric Details
Market size value in 2023 USD 53.95 Billion
Market size value in 2031 USD 82.04 Billion
Growth Rate 5.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Genetically Modified (GM) Seed, Conventional Seed
  • Crop
    • Field Crops, Cotton, Corn, Rice, Wheat, Millet, Sunflower, Sorghum, Fruit & Vegetable Crops, Tomato, Okra, Chili, Melon, Gourds, Cabbage, Cauliflower, Cucumber, and Others (Eggplant, Pumpkin, Radish and Carrot)SegmentAvailability
  • Seed Treatment
    • Commercial Seeds, and Saved Seeds
  • Seed Trait
    • Treated, and Untreated
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
  • Ajeet Seeds Private Limited
  • S&W Seed Company
  • Ankur Seeds Pvt. Ltd.
  • Beijing Dabeinong Technology Group Co., Ltd.
  • Rasi Seeds (P) Ltd.
  • China National Seed Group Corp.
  • Emerald Seed, Inc.
  • Gansu Dunhuang Seed Co., Ltd.
  • Henan Goldoctor Seeds Co., Ltd.
  • Jiangsu Dahua Seed Group Co., Ltd.
  • Kaveri Seed Company
  • Nuziveedu Seeds Ltd.
  • Nunhems Seeds Private Ltd.
  • Rallis India Limited
  • Shriram Bioseed Genetics India Limited Company
  • Takii & Co. Ltd.
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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 Seed 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
  • 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 Seed 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
  • 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
  • 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(%)

Methodology

For the Seed 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 Seed 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 Seed Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Seed 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.

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FAQs

Seed Market size was valued at USD 53.95 Billion in 2022 and is poised to grow from USD 56.9 Billion in 2023 to USD 82.04 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The competitive environment of the Seed Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Ajeet Seeds Private Limited', 'S&W Seed Company', 'Ankur Seeds Pvt. Ltd.', 'Beijing Dabeinong Technology Group Co., Ltd.', 'Rasi Seeds (P) Ltd.', 'China National Seed Group Corp.', 'Emerald Seed, Inc.', 'Gansu Dunhuang Seed Co., Ltd.', 'Henan Goldoctor Seeds Co., Ltd.', 'Jiangsu Dahua Seed Group Co., Ltd.', 'Kaveri Seed Company', 'Nuziveedu Seeds Ltd.', 'Nunhems Seeds Private Ltd.', 'Rallis India Limited', 'Shriram Bioseed Genetics India Limited Company', 'Takii & Co. Ltd.'

A prevailing surge in farmers' awareness regarding the advantages of hybrids and biotech crops is anticipated to significantly propel the seed market. Recent advancements in seed technologies, showcasing an array of advantageous traits such as heightened yields, enhanced quality, resistance to pests, tolerance to abiotic stresses, and suitability for animal feed, are driving a notable shift in farmer preferences. These innovative seed varieties, with their diverse beneficial attributes, are increasingly enticing farmers to choose them over traditional farm-saved seeds for crop cultivation.

The growing adoption of biotech crops stands as a pivotal force propelling the expansion of the seed market. This notable surge finds its roots in the strides made within biotechnology, enabling the creation of crops imbued with superior traits that enhance their resilience, yield, and overall quality. Advancements in biotech have fostered the development of crops better equipped to withstand various challenges, meeting the evolving needs of agricultural practices. The increasing utilization of oil seeds by animal feed manufacturers, coupled with the growing demand from the biofuel industry, further amplifies the market's growth trajectory.

Asia-Pacific emerged dominance in the seed market as of 2022 and is further projected to continue dominating the market in the coming years. This region holds a formidable agricultural landscape, characterized by diverse agro-climatic conditions and expansive arable lands, facilitating robust agricultural practices. The dominance of this region also stems from multiple factors, such as the presence of a large population that automatically augments heightened food production, coupled with an evolving agricultural sector that embraces technological advancements. This, coupled with the rise in governmental initiatives that fosters agricultural innovation and modernization is also projected to aid in regional market expansion.

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Global Seed Market

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