Seeds Market Worth $86.8 Billion by 2026

Northbrook, IL -- (SBWire) -- 04/06/2021 --The report "Seeds Market by Type (Genetically Modified & Conventional), Trait (Herbicide Tolerance, Insect Resistance), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), and Region - Global Forecast to 2026" The global seeds market is estimated to be valued at USD 63.0 billion in 2021 and is expected to reach a value of USD 86.8 billion by 2026, growing at a CAGR of 6.6% during the forecast period. Factors such as increase in seed replacement rate, availability of hybrid seeds, advent of new breeding technologies and adoption of genetically modified crops are the main drivers of the seeds market.

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The genetically-modified segment is estimated to account for a larger market share, in terms of value, in 2020

Genetically-modified seeds are projected to account for the largest and fastest-growing segment. The market for genetically modified seeds is projected to grow robustly in the Americas, as the use of genetically modified seeds has allowed the practice of reduced or no-tillage production techniques in these regions. High adoption rates reflect farmer satisfaction with the genetically modified products that offer substantial benefits ranging from more convenient and flexible crop management, lower cost of production, higher productivity and net returns per hectare, and a cleaner environment through decreased use of conventional pesticides, which collectively contribute to a more sustainable agriculture.

The other traits segment is estimated to hold the largest market in the seeds industry, in terms of value, in 2020

The trend for increased use of other traits is expected to continue as more stacks are offered for farmer's use in the market such as the BolgardIII/RRFlex cotton. The deployment of other traits of different Bt and HT genes is becoming increasingly important and is most prevalent in the US, Argentina, and Brazil. Stacked traits help the farmer overcome issues such as pests, environmental stresses, diseases, and resistance to weeds. The stacking of genes helps improve and simplify the process of pest management.

The fruits & vegetables segment, by crop type, is projected to grow at the highest CAGR during forecast period.

Fruits & vegetables segment is projected to grow at the highest CAGR during the forecast period due to the growing demand for vegetables such as tomatoes and eggplants. Tomatoes are among the most used ingredients in the preparation of salads; the adoption of a healthy diet among consumers, alongside growing demand for these vegetables in the food processing and fast-food sectors, has been driving the growth of the market. According to International Service for the Acquisition of Agri-Biotech Applications (ISAAA), the approved list of GM fruit & vegetable seeds includes beans, eggplant, melons, potatoes, and tomatoes. Experts state that extensive research trials are being conducted for GM varieties of vegetable seeds which is driving the growth of the market.

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Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is the fastest-growing region in the seeds market owing to the presence of some of the major seed producers in the world such as China, Thailand and India. Countries such as China, which is among the largest players in the global market for seeds, have been focusing on the adoption of hybrid crop varieties to attain yield improvement and disease resistance without using GM technology. Even though GM technology is restricted to few crops such as cotton, Southeast and East Asian countries have been slowly relaxing the restriction and extended the approval to GM events for few more crops such as corn, soybean, potato, canola, and sugar beet. India has witnessed an influx in the adoption of Bt cotton in the last decade. Simultaneously, there has also been a growing demand from the export sector for cotton and soybean, which has supported the growth in the cultivation area and had an impact on the commercial seeds market.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the seeds market. It includes the profiles of leading companies such as 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),and Barenbrug Holding B.V (Netherlands).

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