PUBLISHER: The Business Research Company | PRODUCT CODE: 1436699
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436699
Sorghum seed serves as an alternative to wheat, rye, and barley, used for making both leavened and unleavened bread. This warm-season annual grass produces tall stems and large seed heads, resembling maize leaves but smaller in size.
Sorghum seed encompasses several primary product types: grain sorghum, sweet sorghum, forage sorghum, and biomass sorghum. Forage sorghum, specifically, represents a sizable warm-season annual grass cultivated primarily for silage production. These seeds find application in sorghum planting and breeding, serving multiple sectors including animal feed, the food industry, winemaking, biofuel production, chemical manufacturing, and various other industries.
The sorghum seed market research report is one of a series of new reports from The Business Research Company that provides sorghum seed market statistics, including sorghum seed industry global market size, regional shares, competitors with a sorghum seed market share, detailed sorghum seed market segments, market trends and opportunities, and any further data you may need to thrive in the sorghum seed industry. This sorghum seed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The sorghum seed market size has grown strongly in recent years. It will grow from $1.96 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The observed growth in the historic period can be attributed to several contributing factors. These include the consistent consumption of staple foods, the development of crops with drought tolerance capabilities, increased demand from the food and beverage industry, the utilization of certain crops for biofuel production, efforts to enhance resilience against pests and diseases in crops, and the cultural and traditional uses associated with specific crops. Each of these elements played a significant role in driving growth and development within the agricultural sector during that period.
The sorghum seed market size is expected to see strong growth in the next few years. It will grow to $2.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period is expected to be driven by several key factors. These include a heightened focus on climate change adaptation strategies within agriculture, increasing awareness and emphasis on nutritional value in crops, the adoption of alternative crop rotation methods, growing demand for gluten-free products, and the emergence of international trade opportunities for specific crops. Additionally, major trends projected for this period encompass the development and adoption of hybrid sorghum varieties, the incorporation of genetically modified (GM) traits in sorghum, the rise of organic sorghum seed production methods, the cultivation of high-value sorghum for specialty markets, and the integration of precision agriculture technologies for optimized crop management. These trends are likely to shape the trajectory of agricultural practices and contribute to growth in the forecast period.
Heightened awareness of healthy living and the trend towards healthier diets are fostering growth within the sorghum seed market. The evolving consumer inclination towards health-conscious dietary choices has significantly shifted, with a focus on nutrient-rich options such as sorghum. Rich in essential vitamins, minerals, antioxidants, and fibre, sorghum seeds align with the growing emphasis on health and wellness. As noted in a 2021 survey by The Hindu, 70% of participants aimed to enhance overall health and immunity, emphasizing dietary modifications. This trend is expected to steer the growth trajectory of the sorghum seed market.
The escalating demand for animal feed is expected to drive the growth of the sorghum seed market. Sorghum seeds, prized for their nutritional value, serve as a vital component in animal feed, offering essential nutrients for livestock. According to the Agriculture and Horticulture Development Board's August 2022 report, full-season animal feed production in Great Britain totaled 13,991 kt in 2021 and 2022. This burgeoning demand underscores the pivotal role of sorghum seeds in the animal feed market's expansion.
Collaborations and partnerships emerge as a prevailing trend in the sorghum seed market, enabling major players to meet market demand and fortify their position. A notable example is the partnership between National Sorghum Producers (NSP), a US-based commodity organization, and Advanta Seeds, a farming solutions and technology company. Initiated in January 2021, this collaboration prioritizes grower success, amplifying support for NSP's advocacy initiatives while emphasizing grower productivity, profitability, and education. Advanta Seeds' research and development efforts ensure the provision of high-yielding, superior-quality seeds, further bolstering NSP and sorghum farmers.
Major entities in the sorghum seed market are prioritizing the development of advanced, non-transgenic solutions to enhance crop yields and resilience. In March 2021, Corteva Agriscience launched the Inzen trait, exclusive to Pioneer brand sorghum, allowing postemergence application of Zest WDG herbicide for controlling annual grasses. This innovative trait aims to improve yields and manage yield-depleting grasses without introducing foreign genetic material.
In October 2021, Crystal Crop Protection Ltd., an Indian crop solutions company, finalized an agreement to acquire Cotton, Mustard, Pearl Millet, and Grain Sorghum hybrids from Bayer CropScience in India. This strategic acquisition enhances Crystal's field crops seed business, enriching its portfolio with robust brands and strengthened research and development capabilities.
Major companies operating in the sorghum seed market report are Monsanto Company, UPL Limited, DuPont Pioneer, Nufarm Limited, Limagrain Group, Euralis Semences, LongPing High-Tech Agriculture Co. Ltd., Advanta Limited, Kaveri Seed Company Pvt. Ltd., Chromatin Inc., Seed Co Limited, S&W Seed Company, Shri Lal Mahal Group of Companies, La Crosse Seed LLC, Pacific Seeds Pty. Ltd., Terral Seed Inc., Wadsworth Seed Company Inc., Allied Seed LLC, Heritage Seeds Inc., Dyna-Gro Seed Inc., Hancock Farm and Seed Company, Sustainable Seed Company, Proline Seed Company, Blue River Hybrids LLC, Safal Seeds & Biotech Ltd., Alta Seeds Inc., Mabele Fuels Inc., National Sweet Sorghum Producers & Processors Association, Richardson Seeds, Sorghum Forum, Nuseed Global, NexSteppe Inc.
North America was the largest region in the sorghum seed market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sorghum seed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sorghum seed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sorghum seed market consists of sales of testa, embryo and endosperm. 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.
Sorghum Seed 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 sorghum seed 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.
Where is the largest and fastest growing market for sorghum seed ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sorghum seed 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 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.