PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378058
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378058
The main factor of market expansion is the potential of commercial seeds to increase agricultural production while using less arable land. Additionally, increasing per capita disposable income is projected to lead to widespread and ineffective resource usage.
Plant genetic codes can now be mapped more quickly and cheaply due to recent developments in molecular biology. By expanding their output with Genetically Modified (GM) seeds, farmers can effectively deal with key agricultural difficulties including increased demand.
Global concerns related to food security are developing as a result of the expanding world population and the resulting reduction of arable land. This is one of the main drivers boosting the need for commercial seeds to increase agricultural productivity. Moreover, governments in multiple nations are encouraging the use of sustainable agricultural methods through a variety of incentives, which is raising the demand for commercial organic seeds, and non-genetically modified organisms (GMO) seeds.
In addition, several suppliers are providing hybrid seeds with excellent vigor, uniformity, and yield potential. Moreover, the advent of government programs to guarantee that crops cultivated through genetic engineering are safe for people, animals, and the environment is also assisting in the growth of the commercial seed industry.
Commercial seeds can be used to grow either crops for research purposes or crops that are sold on the open market. Depending on the crop, it is estimated that high-quality seed directly contributes between 15 and 20 percent to the total production. With careful management of supplemental inputs, this contribution can rise to approximately 45%. As a result of this expanding significance of commercial seeds being more productive than conventional seeds, the market is anticipated to develop over the projected timeframe.
Furthermore, commercial seeds are increasingly being used to make cereal fodders including maize, sorghum, pearl millet, and oats, among others. This is due to the rise in livestock feed demand for energy-dense foods. As people's awareness of the environment grows, there is a growing need for biofuel crops, which is further aiding market growth.
Syngenta International AG, Bayer AG, Monsanto Company, and DLF Seeds A/S are among the major commercial seed companies. The main techniques used by commercial seed suppliers to maintain competitiveness and enhance corporate performance are agreements and collaborations. For instance, top commercial seed suppliers, the Monsanto Company and Pairwise Plants collaborated to promote agricultural research and development via the use of gene-editing technologies.