The global hybrid seeds market to reach $99 million by 2023

Date:08-14-2017

According to a new report published by Allied Market Research, the hybrid seeds market was valued at $52,114 million in 2016, and is projected to reach at $99,854 million by 2023, growing at a CAGR of 9.7% from 2017 to 2023. The field crops segment was dominant in 2016, accounting for more than half of the market share, in terms of volume.

In 2016, fruit & vegetable crops segment accounted for more than half of the market, in terms of revenue, due to shift in food usage from cereal consumption to vegetables in the emerging economies, such as India, and increase in consumer migration to different countries with varying food habits.

Treated seeds accounted for the maximum share, in terms of both volume and revenue, in 2016 as these seeds save post sowing cost of spraying and make crops tolerant to various soil born and other diseases. Furthermore, treated hybrid seeds assist to increase the productivity and provide benefits to farmers in terms of cost.

Indoor farms grow at the highest rate in hybrid seeds market as indoor farming offers ability to produce more with utilization of less resources. Indoor horticulture is 4,000x more productive as compared to conventional outdoor commodity farming.

In geography, South Africa accounted for 4.12% share, in terms of volume, in the LAMEA hybrid seeds market in 2016. UK accounts for 7.63% share, in terms of revenue, in the European hybrid seeds market, in 2016. India is expected to grow at the highest CAGR of 10.3%. Asia-Pacific and LAMEA collectively accounted for more than half of the share to the global hybrid seeds market revenue, in 2016. In the same year, Asia-Pacific dominated the market, owing to the increase in demand of enhanced agricultural products.

The prominent market players profiled in the report include Advanta Limited (India), Biostadt India Limited (India), DOW Agrosciences LLC (U.S.), E.I Du Pont De Nemours and Company (U.S.), Emerald Seed, Inc.(U.S.), KWS AG (Germany), Kaveri Seed Company (India), Monsanto Company (U.S.), Mahyco Seeds Ltd. (India), and Syngenta AG (Switzerland).