Seeds Market projected To Grow With Significant CAGR Over The Forecast Period
Seeds Market Overview
Seeds are formed through reproduction in seed bearing plants. Seeds are result of the reproduction of ripen ovule after the fertilization by the pollen grains. The embryo develops from zygote and seed coat from ovule’s integuments. Seed formation can be considered as a very important advancement in reproduction process in angiosperms and gymnosperms over other primitive plants.
Seeds Market – Constraints Vs Drivers
Modernization of agricultural practices and product innovations are the most important factors driving growth to the seeds market. Other than this, factors like availability of improved hybrid seeds, increase in usage of hybrid seeds, diversification of diets, increasing concern for plant health and initiatives taken by the governments are further fuelling the growth in the seeds market.
Otherwise, quick spoilage of seeds, adulterated seeds, high cost of the seeds and less productivity of the seeds still continue to act as constraints to the growth of seeds market.
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Seeds Market – Classification
Seeds market can be broadly be classified on the basis of type, crop type, treatment and geography.
On the basis of type, the seeds market can be classified into the following categories:-
- GM seed
- Conventional seed
On the basis of crop type, the seeds market can be classified into the following categories:-
- Fruits & vegetables
- Cereals & Grains
- Oilseeds
On the basis of seed treatment, the seeds market can be classified into the following categories:-
- Non-treated
- Treated
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Seeds Market – A Global Scenario
At present all the companies in this industry are focusing towards development of new technologies in seeds. For example, one of such company from Africa has come up with a new variety of maize seeds of which are coated with herbicide. Presence of herbicide coating will help seeds to get resistant to Striga, a parasitic weed. Most of the global players are adopting cross-licensing agreement to expand their market. This is turn likely to improve traits, products for crop protection, and seed treatments. Majority of these players have their own seed technologies and protected trademarks to have monopoly in the market.
On the basis of geography, the seeds market can be divided into following regions:-
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
- North America
North America is seen as the most dominant region with rapid innovations in crop seeds and technologies. Also, increased demand and penetration of seeds with improved features is likely to contribute towards the growth of the seeds market in this region. Disposable income, growing awareness towards health and favorable government policies are making Asia-Pacific the fastest growing region. Growth in Europe is mainly due to presence of countries like France, Italy, and UK. Advancement in farming technologies, better supply chain management and supportive government policies are the factors that will work in favor of the seeds market.
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Seeds Market – Recent Developments
- December 2016 – Monsanto along with Novozymes Launched Acceleron B-300 SAT in order to develop and commercialize innovative microbial solutions to farmers through BioAg Alliance.
- December 2015 – Launch of a breakthrough seed coating system which enables seed brands for better differentiation by Sensient Colors LLC.
- September 2016 – Bayer CropScience Launched of Raxil Easy, a fungicide which is used to treat seeds.
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