Global Seed Market Size, Share, Growth Analysis, By Type(Genetically Modified Seed, Conventional Seed), By Crop, By Seed Treatment, By Seed Trait - Industry Forecast 2024-2031

Global Seed Market size was valued at USD 53.95 Billion in 2022 and is poised to grow from USD 57.08 Billion in 2023 to USD 89.61 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

India's expanding population and plethora of rich, arable land across several agroclimatic zones are important drivers that are favorably influencing the market environment. These favorable conditions are just one of the factors driving the nation's thriving seed industry; other factors include the commercialization of agriculture and the joint efforts of the public and private sectors. Prominent seed breeders are leading the way in incorporating cutting edge digital technologies to enable farmers to overcome obstacles caused by pests, weather patterns, and other environmental issues. The deliberate integration of digital technologies boosts agricultural resilience and production, which in turn accelerates the market's growth trajectory.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Seed Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Seed Market Segmental Analysis

Six categories comprise the worldwide seed market: crop, availability, kind, seed treatment, seed trait, and region. The market is divided into two categories based on type: conventional seed and genetically modified (GM) seed. The market is divided into the following segments based on crop: Fruit & Vegetable Crops, Tomato, Okra, Chili, Melon, Gourds, Cabbage, Cauliflower, Cucumber, Others (Eggplant, Pumpkin, Radish and Carrot), Field Crops, Cotton, Corn, Rice, Wheat, Millet, Sunflower, Sorghum. The market is divided into two segments based on availability: commercial seeds and saved seeds. The market is divided into two segments based on seed treatment: treated and untreated. The market is divided into three segments based on seed trait: herbicide-tolerant, insecticide-resistant, and other stacked traits. North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, and the rest of Europe are the geographically divided markets. Asia-Pacific is further divided into China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific, Latin America and the Middle East (LAMEA), Brazil, South Africa, Saudi Arabia, Turkey, and the rest of LAMEA.

Drivers of the Global Seed Market

An increasing number of farmers are becoming aware of the benefits that hybrid and biotech crops offer, which is expected to drive the global seed business. New developments in seed technology, exhibiting a host of beneficial characteristics like higher yields, improved quality, pest resistance, abiotic stress tolerance, and animal feed compatibility, are contributing to a discernible change in farmer preferences. With their many advantageous qualities, these cutting-edge seed varieties are drawing more and more farmers to select them for crop production over conventional farm-saved seeds.

Restraints in the Global Seed Market

The market for seeds is significantly hampered by the complex approval processes and strict regulatory environments that surround genetically modified organisms (GMOs) and biotech seeds. New seed varieties are sometimes delayed from reaching the market due to these strict standards. Furthermore, worries about intellectual property rights, especially when it comes to genetically modified seeds, lead to legal complications and disputes that pose serious obstacles to market growth.

Market Trends of the Global Seed Market

One major factor driving the growth of the seed business is the increasing use of biotech crops. This remarkable increase can be attributed to advances in biotechnology, which have made it possible to produce crops with superior qualities that improve their resilience, yield, and general quality. Technological developments in biotechnology have facilitated the creation of crops that are more resilient to a range of stressors, satisfying the changing requirements of farming methods. The market's growth trajectory is further amplified by the growing demand from the biofuel industry and the increasing utilization of oil seeds by animal feed makers.