New York, USA, June 08, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global seeds market. According to the report, the global market is projected to surpass $106,179.0 million and grow at a CAGR of 4.6% in the estimated period, 2022-2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the seeds market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Seeds Market
The outburst of the COVID-19 pandemic in 2020 has had a moderate impact on the growth of the global seeds market. The outbreak halted supply chains, caused labor shortages, and laid out logistical issues for seed manufacturers, distributors, and retailers. However, due to the pandemic, demand for seeds increased as more individuals started home farming and gardening during lockdowns. These factors had a significant impact on the market growth amidst the pandemic.
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Factors Impacting the Seeds Market Growth
The key factor boosting the growth of the global seeds market is a significant rise in the need for seeds owing to the growing popularity of organic and sustainable farming methods, which has increased the demand for non-GMO and organic seeds. Furthermore, technological developments in the seed industry, such as the production of genetically modified seeds are estimated to unlock lucrative opportunities for market growth in the forecast period. However, the expenses and regulatory issues over seeds are anticipated to deter the market’s growth.
The report segments the global seeds market into seeds type, crop type, traits, and region.
Genetically Modified Sub-Segment to Grab a Foremost Share of the Market
The genetically modified sub-segment of the seeds type segment is foreseen to observe leading growth in the forecast period. This growth is mainly because genetically modified seeds can help farmers save money by lowering the need for pesticides and other inputs and enhancing yields and quality.
Fruits and Vegetables Sub-Segment to Witness Rapid Growth
The fruits and vegetables sub-segment of the crop type segment is predicted to grow enormously in the forecast period. This growth is mainly owed to the growing consumer demand for healthy, fresh fruits and vegetables.
Herbicide Tolerant Sub-Segment to Witness Rapid Growth
The herbicide tolerant sub-segment of the traits segment is predicted to grow enormously in the forecast period. This growth is mainly due to the rise in demand for more productive farming methods and larger crop yields.
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North America Seeds Market to Perceive Maximum Growth
The report analyzes the global seeds market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth in the estimated period. This growth is mostly due to the growing need for food products, the adoption of modern agricultural practices, and the increasing population in this region.
Key Players of the Global Seeds Market
The report states some of the foremost players operating in the global market including
- Corteva
- Syngenta AG
- BASF
- Bayer Crop Science AG
- Limagrain
- Sakata Seed Corporation
- KWS SAAT SE
- AgReliant Genetics LLC
- Yuan Longping High-tech Agriculture Co. Ltd.
- DLF Seeds A/S
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
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For instance, in May 2022, Syngenta Canada, a prominent agricultural company enhancing global food security, launched an innovative Pelta seed pelleting technique for canola. Innovative Pelta technique optimizes seed size and uniformity, resulting in increased singulation planter performance.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
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Seeds Market Size Projected To Generate A Revenue Of $106,179.0 Million By 2031
