Summary
Major players in the commercial seeds market are Syngenta International AG, Bayer AG, Corteva Inc., Vilmorin & Cie SA, Land O’Lakes Inc., Sakata Seed, Rijk Zwaan Zaadteelt en Zaadhandel B.V., Hyland Seeds, MTI, Triumph Seed, Neseed, Limagrain, KWS, DLF, and Takii Seed.
The global commercial seeds market grew from $69.04 billion in 2022 to $75.27 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial seeds market is expected to grow to $107.46 billion in 2027 at a CAGR of 9.3%.
The commercial seed market consists of sales of canola, pumpkin gladiator, and cucumber burpless.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A commercial seed refers to a seed that is marketed for uses other than seed production may be Registered Seed, Certified Seed, Non-certified Seed, or Seed generated directly from Foundation Seed. Basically, commercial seeds relate to any type of seed purchased and utilised by farmers to grow their crops.
North America was the largest region in the commercial seeds market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the commercial seeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The various products of commercial seeds are maize (corn), soybeans, vegetables, cereals, cotton, rice, canola (rapeseed), and other products.The maize market consists of sales of commercial maize seeds by entities (organizations, sole traders, and partnerships) that refer to commercial seeds used for the production of maize or corn.
They are categorised based on their type into organic, inorganic, and genetically modified, and they have different traits, which include herbicide-tolerance, insect tolerance, and others.
The growing demand for bio-fuels is expected to propel the growth of the commercial seed market.Biofuel is a renewable, non-toxic, environmentally beneficial, and economically viable alternative to fossil fuels, which are rapidly decreasing and have a significant environmental impact.
Commercial seeds are extensively used in the production of agricultural products, which are further used in the processing of biofuels.Vegetable oil methyl esters, produced by transesterification of high-quality vegetable oil by methanol, are currently the most widely used type of bio-fuel.
According to the US Energy Information Administration (EIA), an agency of the U.S. Federal Statistical System, biofuel output in the United States would expand until 2050. The amount of biofuel generated in 2050 would be 18% higher than the 6.5 billion litres produced in 2019. Therefore, escalating demand for biodiesel fuels is driving the growth of commercial seeds.
Strategic collaborations between companies are a key trend gaining popularity in the commercial seed market.Companies producing commercial seeds are undergoing partnerships and collaboration to expand their business reach in fast-growing regions or countries in the commercial seed sector.
For instance, in November 2020, Bayer CropScience Limited, a Germany-based chemical company, collaborated with BigHaat, an India-based agriculture digital platform, to make it possible to deliver Bayer’s seeds and crop protection goods to farmers’ front doors at the last mile. Farmers can access BigHaat’s Agristore digital portal for crop-specific agronomic advice in addition to the full range of Bayer’s agri-solutions from seed to harvest.
In August 2020, Syngenta seeds, a Switzerland-based company that provides seeds and crop protection products, acquired Sensako for an undisclosed amount.The acquisition will enable Syngenta Seeds to enter into the South African wheat, corn, and sunflower seed markets, which will establish the groundwork for future growth.
Sensako is a South African-based breeder of seeds.
The countries covered in the commercial seeds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The commercial seeds market research report is one of a series of new reports that provides commercial seeds market statistics, including commercial seeds industry global market size, regional shares, competitors with a commercial seeds market share, detailed commercial seeds market segments, market trends and opportunities, and any further data you may need to thrive in the commercial seeds industry. This commercial seeds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
