Market Research Report
Global Corn Seeds Market - 2022-2029
|Global Corn Seeds Market - 2022-2029|
Published: May 7, 2022
Content info: 190 Pages
Delivery time: 2 business days
The global corn seeds market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Corn seed is the seed of corn, which is one of the world's most frequently cultivated and consumed cereal crops. There are two common sources of corn seed: one is harvested corn that is selected and kept by farmers, and the other is bred and produced by commercial organizations. After wheat and rice, maize is the third most often grown crop. Although the crop is mostly used and traded as a feed crop, it is also a significant food crop. Corn is a flexible cereal crop that may be produced in tropical, subtropical, or temperate climates. The increased need for superior quality seeds to feed the growing population can be attributed to the corn seeds market growth rate.
Corn seed consumption has increased as a result of the growing demand for animal feed
The amount of maize harvested on a global scale has been steadily increasing. The United States has the most maize-growing land, followed by Brazil, China, Mexico, and India. The corn seed industry is expanding in tandem with the overall increase in corn consumption in the industrial sector. Consumption is predicted to increase owing to increased demand for animal feed. The change in worldwide grain demand toward maize is due to rising affluence in many emerging nations, which has resulted in increased meat consumption, which promotes demand for maize as poultry and swine feed. As a result of all of these factors, corn cultivation has risen. Despite rising areas, biotic and abiotic stressors caused by pests are significantly limiting production in developing countries. As a result, increased area combined with the need to overcome biotic and environmental difficulties will result in a huge need for high-quality seeds. Because of rising demand, economic expansion, rising income, and rising demand for livestock and consumer preferences, the need for animal feed is likely to pick up in the future.
Genetically modified corn has dominated the category
The corn seeds market is dominated by GM corn seeds, which account for more than XX% of the market in the year 2021. Rain, drought, pests, diseases, and other environmental stresses are important targets for genetically engineered seeds. For example, a bacterial toxin is grown inside each corn kernel in genetically engineered corn. GM corn features are created for several reasons, but they all aim to achieve a specific purpose. Some GM corn qualities, for example, could be for insect resistance to specific target pests, herbicide resistance to specific herbicides, or even characteristics for specific forms of production, such as ethanol production. Corn has roughly 50,000 genes, and corn breeders have used traditional breeding to develop combinations of these genes to create an extremely beneficial crop in agricultural systems. Genetic engineering tools have enabled the addition of specific genes for new traits that are difficult to develop through conventional breeding, such as season-long protection from insect pest feeding and high levels of herbicide tolerance. Insecticidal proteins including Cry1F and Cry34/35Ab1 have been introduced using genes from Bacillus thuringiensis, a common soil bacterium. Genes from other microorganisms provide tolerance to herbicides like 2,4-D and glufosinate. Corn's high yield potential can be protected by including these genes. Farmers can choose from various combinations of these genes in corn seeds based on their specific demands. Choices range from the single gene product CP4 for glyphosate tolerance in Roundup Ready ® products to products with seven genes: two genes for herbicide tolerance (CP4 for glyphosate and PAT for glufosinate) and multiple insecticidal proteins. After realizing maize's global relevance, seed corporations like Monsanto and Syngenta developed many GM crops for it. Multinational corporations are devoting significant resources and time to developing GM maize that is resistant to a variety of pests.
Maize is an important component of animal feed. Maize products have grown in importance as feed ingredients over the last two decades, owing to increased demand from the livestock sector, which has undergone major structural changes, gaining efficiency through vertical integration, with feeding becoming increasingly concentrated and feedlots largely controlled by the commercial sector rather than the farm. Improvements and developments in the maize milling process have aided in meeting the growing demand for more nutritious feed components in the sector.
North-America is the dominating region during the forecast period
North America is the most important region in the worldwide maize seed market. Over the last century, the seed market in the United States has changed dramatically, as more farmers have purchased seeds and small seed businesses have given way to larger enterprises that combine plant breeding, production, conditioning, and marketing functions. The region's corn seed business is dominated by GM corn seeds, which account for more than XX% of the market. The United States leads the pack in commercialized biotech crop acreage. Major biotech crops, including maize, were planted on 72.92 million hectares in 2016. Brazil, South Africa, and Central Africa contribute significantly to the market's demand in the rest of the world. Corn is used as a feedstock for starches and sugars, which have a variety of uses in industry. In both developed and developing markets, the crop has a high penetration of commercial hybrid seeds, including genetically modified seeds, and farmers use modern farming technologies for maize cultivation. The demand for maize seed is expected to rise throughout the forecast period, owing to the increased use of maize in various applications in the rest of the globe.
The global corn seeds industry is fragmented. Because the industry is fragmented, local enterprises dominate inside each country's domestic marketplace. Seed companies are investing more resources into R&D to strengthen their progress in the major markets. DowDuPont, Advanta Seeds, Limagrain's, Syngenta AG, and Bayer CropScience AG are some of the main global players in the market studied. Bayer recently purchased Monsanto for USD 66 billion in 2017. As a result of the merger, the world's largest seed and agriculture company emerged. Furthermore, in August 2020, the government of Azerbaijan began creating hybrid corn using haploid corn seeds from Turkey. Adasa 16 is the new product's name, which will be grown in the Agjabdi province. Harvesting is a decision made to increase productivity and improve the country's economic situation.
Negative impact on the global corn seeds market
Because of the recent COVID-19 pandemic, hybrid seed is in shorter supply than open-pollinated cultivars (OPVs). This was owing to restrictions on transportation throughout the maize-planting season, and as a result, farmers had a difficult time getting maize seeds because the majority of agrovets were closed. Falling commodity prices has hit farmers and ranchers hard, even as prices surge further downstream. This is being caused by critical bottlenecks in the supply chain. Distiller's dried grains with soluble (DDGS), corn, ethanol, and meat exports have all been impacted. For perspective, about 40% of Kansas corn left the state last year. Ethanol demand usually consumes about 38-39% of the corn crop, just behind demand for corn fed to livestock.
Understand the current market scenario and viability of global corn seeds market over the forecast period
Visualize the composition of the global corn seeds market in terms of type, and application to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global corn seeds market - Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global corn seeds market report would provide an access to approximately 55 market data tables, 45 figures and 190 pages
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