The global seed market is valued at USD 58.8 billion in 2023. It is projected to reach USD 83.3 billion by 2028, recording a CAGR of 7.2% during the forecast period. Advances in biotechnology, genetics, and seed breeding techniques have revolutionized the seed industry. Genetic engineering, marker-assisted selection, and other technologies enable the development of seeds with desired traits, such as disease resistance, drought tolerance, or enhanced nutritional content. Genetically modified (GM) crops have gained adoption in several countries, particularly in major commodity crops like corn, soybeans, and cotton. The demand for GM seeds is driven by factors such as pest resistance, herbicide tolerance, and increased crop productivity. These are the factors that are propelling the growth of the seed market.
A few leading players operating in the seed market are BASF SE (Germany), Bayer AG (Germany), Syngenta Crop Protection AG (Switzerland), KWS SAAT SE & Co. KGaA (Germany), Corteva (US), Limagrain (France), Advanta Seeds (UPL) (India), SAKATA SEED CORPORATION (Japan), DLF Seed A/S (Denmark), Enza Zaden Beheer B.V. (Netherlands), Ralis India Limited (India), FMC Corporation (US), TAKII & CO., LTD. (Japan), Royal Barenbrug Group (Netherlands), and Longping High-Tech (China), among others. The companies are launching different kinds of products into the market. The expansion of product portfolios offered by the companies is strengthening their presence around the globe. Companies are manufacturing different kinds of seeds required for different types of crops. This is resulting in their increased market penetration. Similarly, partnerships are also fostering the expansion of the companies and helping to create synergy and; obtain a competitive advantage in the industry.
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BASF SE is a world-class chemical company. Chemicals, plastics, performance materials, agricultural solutions, and industrial solutions are just a few of the fields in which the firm has made a name for itself. The organization is dedicated to finding long-term solutions to global concerns such as climate change, resource scarcity, and population growth. BASF plans to integrate sustainability into all aspects of its operations, from raw material sourcing to production procedures and product development. Through its agricultural solutions business area, the firm provides cereal, grain, oilseed, fruit, and vegetable seeds. Aside from that, the market provides crop protection and digital agriculture solutions. BASF SE has a presence in 91 countries and 239 manufacturing facilities globally. In June 2021, BASF SE introduced the new Ideltis seed brand for hybrid wheat. This hybrid wheat is intended to provide farmers with higher yields and more consistent quality performance.
Bayer AG is a multinational corporation that specializes in medicines, consumer health, and crop sciences. Crop Science, the company's agricultural branch, specializes in delivering solutions for farmers to increase crop yields and defend against pests, diseases, and weeds. Through its crop science business area, the firm produces and distributes seeds, crop protection products, and digital farming technology. Bayer AG aspires to contribute to sustainable agriculture and meet the global problem of feeding a rising population via continual innovation and collaboration. The corporation has a presence in 83 countries, including North America. Europe, the Middle East and Africa, Asia, the Pacific, and Latin America are all represented. In August 2022, Bayer AG, Bunge, and Chevron U.S.A. Inc. (Chevron), a subsidiary of Chevron Corporation, signed a shareholders' agreement to support Bayer's acquisition of a 65 percent stake in winter oilseed producer CoverCress, Inc. (CCI). Bunge and Chevron will retain control of the remaining 35% of CCI.
Seeds Market by Type (Genetically Modified, Conventional), Trait (Herbicide Tolerance, Insect Resistance), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Treatment (Treated and Un-treated) and Region - Global Forecast to 2028
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