HYDERABAD, India, August 23, 2017 /PRNewswire/ --
The global seed market is projected to reach USD 78,219.35 million by 2022, with a CAGR of 6.8% over the forecast period of 2017-2022.
The seed industry has witnessed substantial changes in the last century as farmers purchased seeds with better traits from the market, rather than relying on seeds from the previous season's harvest. Developments in seed technology have increased the momentum of the industry's growth. Moreover, the introduction of genetically modified crops has further boosted the seed market. The value of the global seed market has tripled since 2000, and it reached approximately USD 50 billion in 2014. On a global scale, North America occupies the largest market share, and together with Europe, the country contributes over 50% to the global seed market.
The report provides a detailed analysis of the global seed market, broadly segmented based on product type (non-GMO/hybrid seed, and GMO seed) and crop type (grain and cereal, oilseed, vegetable, and others).
The key driving factors in the global seed market include an expanding population, a rising worldwide adoption of biotech crops, increase in the usage of biofuels and animal feed, and growing land reclamation for agricultural purposes. On the other hand, lower adoption rate of GMO crops in various countries, the need for prolonged approval time, and the extensive research and time required to stabilize and introduce new seed varieties with novel traits (and to consolidate the seed market) are the major constraints for this industry.
In order to obtain a generation of new varieties of seeds with desirable traits, the seed industry is investing heavily on R&D. The leading global players are trying to include these traits (and certain combinations of the same) in their products to sustain high levels of competition and to maintain their market shares. Technological innovations and growing demand in the developing countries are the major areas of opportunities in the seed market.
Browse Full Report with TOC: https://www.mordorintelligence.com/industry-reports/seeds-industry
The report will answer the following key questions:
- Who are the major players in the global seed market?
- What is the basis of segmentation of the global seed market? What are the market shares of various segments and sub-segments?
- What are the technological advancements in the global seed industry and their future prospects?
- What are the key market trends driving the growth of the global seed market?
- What are the factors constraining the growth of the global seed market?
- What are the opportunities and threats faced by the players in the global seed market?
Objectives of the Study:
- To provide detailed analysis of the market structure, along with forecast of the various segments and sub-segments of the global seed market
- To provide insights about factors affecting the market's growth. To analyze the global seed market based on various factors, such as, competitive analysis, Porter's five forces analysis, etc.
- To provide geographical revenues of the market segments and sub-segments with respect to regions - North America, Europe, Asia-Pacific, South America, and Africa
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies and drawing a competitive landscape for the market
- To track and analyze competitive developments, such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and R&D activities in the global seed market
About Mordor Intelligence
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SOURCE Mordor Intelligence