DUBLIN, May 17, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Sorghum Seed Market (Seed for Sowing) - Global Trends, Sector Analysis and Forecasts (2017 - 2022)" report to their offering.
The sorghum seeds for sowing market has witnessed an unprecedented vertical growth in the recent years. The market value is projected to grow from USD 2657.24 million in the year 2017 at a CAGR of 4.39% by 2022.
Significant demand from the pet food industries and other consumers is creating unique marketing opportunities for the sorghum seed growers. The increasing sorghum seed demand in the Chinese market has changed the entire demand and supply scenario for the sorghum market, owing to a huge difference between the import prices versus the local price. This huge demand added great value to the sorghum seed farmers and the American economy. The non-traditional markets have found sorghum seed market attractive owing to better price opportunities and the availability and knowledge of its use. Dominated by traditional markets, such as Mexico, Japan, China and Korea, increasing commitments have been observed from markets of Columbia, South Africa, Indonesia, Haiti, Pakistan, and Venezuela.
The factors that are driving the sorghum seed market are its increasing use in the feed (due to lesser costs compared to other crops), its use as a biofuel and lastly due to advantages associated with its use in alcoholic beverages with its gluten-free nature possessing extensive health benefits. Small land holding, high-cost of labor, the presence of weeds, variable rainfall in major countries and inadequate government regulations are hindering the growth of the sorghum seed market. The governments of most nations are focusing to regulate the sorghum market to bring in favorable policies for the growers. The development of hybrid sorghum varieties with excellent traits is expected to drive the future demand of the sorghum seed market.
Major companies in the sector include:
- Dupont (Pioneer)
- Dow Agrochemicals
- Pannar Seeds
Key Topics Covered:
2. Market Overview
3. Market Dynamics
4. Supply Chain Analysis
5. Industrial Policies and Government Regulations
6. Competitive Environment
7. Market Segmentation by Region
For more information about this report visit http://www.researchandmarkets.com/research/k2xzln/sorghum_seed
Laura Wood, Senior Manager
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SOURCE Research and Markets