Growing at a CAGR of 4.0% over 2022-2028, the Global Grain Seed Market to push innovations in new traits for abiotic and biotic stress tolerance in major crops, predicts Mordor Intelligence

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Hyderabad, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Across major cereal crops, increasing the yield remains a focus for product development. However, the route to achieving increased yield has changed over the last five years, with tolerance to biotic and abiotic stresses being the most sought-after traits by farmers worldwide. Herbicide-tolerant traits are also expected to be a dominant product development direction over the next five years, with up to 35% of new product launches incorporating this trait.  This trend will continue to drive the growth of the grain seed market at CAGR of 4.0% during 2022-2028. 

In 2021, Asia-Pacific was the largest market and accounted for 44% of the global grain seed market. The United States, China, India, Brazil, Russia, Mexico, and Canada constitute the largest grain seed markets. However, increased export-oriented cultivation of cereals and increased penetration of hybrid seeds countries such as Argentina, Vietnam, Myanmar, Thailand, and the Philippines provide exciting opportunities for companies active in the market, says Avinash Desamangalam, Research Manager at Mordor Intelligence. 

“In the long-term, adapting to climate change, while not compromising on yield would be a significant challenge to all industry stakeholders, with several product launches aiming at imparting drought tolerance to seeds. However, for the short term, insect resistance has made a comeback of sorts as a key trait to watch out for, especially with the widespread infestation of Fall Amyworm in corn over the last two years.” 

Avinash says that seed companies are starting to focus on creating ecosystem effects with their products at all stages of the crop life cycle. In traits, this is evident whereby global agribusiness majors are tagging along herbicides with their seed traits. For instance, in March 2022, Corteva Agriscience, under the Pioneer brand introduced Inzen sorghum hybrids tolerant to its herbicide, Zest WDG. Partnering and investing in ag-tech start-ups to complement traits and inbuilt capabilities of hybrids has also taken root over the last five years.  
  

There is a high potential for inorganic growth in the row crops segment with more GMO approvals. While company product pipelines are ready with a go-to-market strategy for transgenic seeds in crops such as rice and corn, delays in approval by governments in key growth markets such as India and Thailand are restraining the explosive growth. In newer GMO-approved areas, yield enhancement remains the key objective of product launches. 

Increased export-oriented cultivation in crops and geographies such as corn in Argentina and rice in Thailand, coupled with the need for self-sufficiency in most emerging markets are driving new product development in these crops. 

Over the last five years, Corteva Agriscience launched 87 new corn and soybean varieties in the United States, including Pioneer brands A-Series with the Enlist E3 trait. The Enlist E3 technology in A-Series soybeans combines a superior weed control system with exclusive Pioneer genetics and is expected to maximize yield potential and profitability. 

 

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