Seeds Global Market Report 2024

A seed refers to the matured ovules of plants used for sowing or the grains in the embryonic stage of the plant life cycle. Typically, it denotes a root, stem, and one or more leaves present on the embryo, representing a miniature plant. These seeds contain significant reserves of protein, carbohydrates, and oil that support the early growth and development of a plant.

The seeds market encompasses both genetically modified and conventional seeds. Genetically modified seeds are those that have undergone genetic engineering to acquire specific traits, such as herbicide resistance. The market is further categorized based on treatment methods, including treated and non-treated, and is segmented into crop types such as cereals and grains, fruits and vegetables, oilseeds and pulses, among others. Additionally, the seed market is classified by traits, including herbicide-tolerant, insecticide-resistant, and other stacked traits.

The seeds market research report is one of a series of new reports from The Business Research Company that provides seeds market statistics, including seeds industry global market size, regional shares, competitors with a seeds market share, detailed seeds market segments, market trends and opportunities, and any further data you may need to thrive in the seeds industry. This seeds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The seeds market size has grown strongly in recent years. It will grow from $62.69 billion in 2023 to $66.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The expansion observed in the historical period can be ascribed to the growth in the world population, government initiatives, the reduction of farmland areas, and an increased demand for animal feed.

The seeds market size is expected to see strong growth in the next few years. It will grow to $87.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to global population growth, initiatives aimed at ensuring food security, an increased demand for biofuels, and a shift towards vegan eating. Key trends expected during this period involve the utilization of artificial intelligence to drive innovations, a focus on biological seed treatments, an emphasis on partnerships and collaborations to bolster market position, and investments in novel seed treatment technologies aimed at achieving higher yields and improved productivity.

The seeds market is anticipated to receive substantial support from the increasing demand for biofuels derived from genetically modified (GM) crops in the coming years. Genetically modified plants are being promoted as a viable option for biofuel production due to their potential for higher yields and improved feedstock quality. As countries gradually transition from fossil fuels to more environmentally friendly transportation options, the popularity of biofuels is expected to rise, thereby boosting the demand for GM crops in the forecast period. An example of such support is evident in the revised Renewable Energy Directive (REDII) in Europe, implemented in 2021, outlining the EU policy framework until 2030. This directive is poised to bolster the biofuels market, consequently driving growth in the seeds market.

The seeds market is also poised for expansion due to the increasing adoption of plant-based diets in the forecast period. The shift towards plant-based diets is driven by the perceived health benefits associated with vegetarianism, including lower cholesterol levels, blood pressure, and rates of hypertension. Vegetarians are often linked to lower body mass indexes, reduced cancer risks, and lower incidences of chronic diseases such as diabetes. Additionally, growing awareness of animal cruelty is prompting more individuals to embrace a vegan lifestyle. In 2022, around 5% to 6% of Americans not consuming meat or fish identified themselves as vegetarians, as reported by Cook Unity, a US-based meal delivery company. Furthermore, plant-based food sales, according to the Plant Based Foods Association in December 2021, saw a 6.2% expansion in 2021, following a record-breaking growth year in 2020. This surge in veganism is expected to drive demand for various products such as healthy cereals, superfoods, and fruits, thereby contributing to the growth of the seeds market.

Product launches stand out as a notable trend gaining momentum in the seeds market. Major companies in the industry are focusing on innovation and introducing new products to solidify their market positions. For instance, Kannar Earth Science Ltd., a US-based company specializing in high-quality seed coating products, launched KAN7 in October 2021. KAN7, a unique combination of amino acids and a critical micronutrient, is designed to promote crop establishment and vigor efficiently at modest treatment rates. The product leverages carbohydrates to encourage the colonization and proliferation of seed-applied microorganisms.

Strategic partnerships and collaborations are becoming prominent trends in the seeds market. Leading companies are engaging in partnerships to enhance their market positions. In May 2022, Seed-X, an Israel-based AI-driven Agtech company, collaborated with Advanta Seeds, a UAE-based farming solutions company, aiming to revolutionize seed processing methods and redefine seed lot quality. Similarly, in March 2021, UK-based telecom company BT partnered with Syngenta, a Switzerland-based agricultural science and technology provider, to provide adaptable and flexible service consumption, including networking, connectivity, and security solutions. This partnership aims to foster collaborative innovation and expand prospects for both companies.

In December 2021, Crystal Crop Protection Ltd., an India-based crop solutions company, acquired Bayer's seeds business for an undisclosed amount. This acquisition, covering Cotton, Mustard, Pearl Millet, and Grain Sorghum hybrids, is geared towards strengthening Crystal Crop Protection's seed portfolio in the Indian market. Bayer AG, a Germany-based multinational pharmaceutical and biotechnology company, was the selling entity in this strategic move.

Major companies operating in the seeds market report are Corteva Inc., Bayer AG, KWS SAAT SE & Co. KGaA, BASF SE, Syngenta AG, Groupe Limagrain Holding SA, DLF Seeds A/S, UPL Limited, Sakata Seed Corporation, Land O'Lakes Inc., Abundant Seeds, Advanta Seed International, Clause Pacific, Heritage Seeds Pty Ltd., Magnus Kahl Seeds, Queensland Agricultural Seeds Pty Ltd., South Pacific Seeds Pty Ltd., Terranova Seeds Pty Ltd., Beijing Dayi Seed Co Ltd., Beijing Mantian Seeds Co Ltd., Beijing TopGreen Turf & Forage Co Ltd., East-West Seed International Ltd., Green Seeds China, Henan Know-How Seed Co Ltd., Jiuquan Changqing Seeds Co Ltd., Liaoning Dongya International Seed Co Ltd., RichPro Seed Co Ltd., Techspark Seed Co Ltd., Wenzhou Shenlu Seed Co Ltd., Vilmorin, Syngenta Seeds, Limagrain, BASF SE, Bayer Crop Science AG, CN Seeds Ltd., Hazera Seeds, Plant Seeds Ltd., Tozer Seeds, Roussineau SA, Gautier Semences, Panam Semences, Semences de l'Est, Technisem, ROLIMPEX SA, Danko, PHU Karo, TORSEED, Grupo Sakata Seed de Mexico SA de CV, Top Seeds Inc., Reimer seeds, West Coast Seeds, Richters Herbs, KWS AG, Monsanto, DuPont Pioneer, Syngenta, Agridera Seeds & Agriculture Ltd., BreedIT Ltd., Genesis Seeds Ltd., Hazera Seeds Ltd., Nirit Seeds Ltd., Monsanto South Africa (Pty) Ltd., Corteva Agriscience, Capstone Seeds, Syngenta Seed S.A. (Pvt.) Ltd., African Seeds Group

North America was the largest region in the seeds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the seeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the seeds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The seed market consists of sales of roasted embryo, endosperm, and seed coats. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Seeds Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on seeds market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for seeds? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The seeds market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Genetically Modified; Conventional
• 2) By Seed Treatment: Treated; Non-Treated
• 3) By Crop Type: Cereals And Grains; Fruits And Vegetables; Oilseeds And Pulses; Other Crop Types
• 4) By Traits: Herbicide-Tolerant; Insecticide-Resistant; Other Traits
• Companies Mentioned: Corteva Inc; Bayer AG; KWS SAAT SE & Co. KGaA; BASF SE; Syngenta AG
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.