Global commercial seeds market expected to reach $52 billion
According to a new market report published by Transparency Market Research, "Commercial (Conventional and Biotech/GM) Seeds Market for Soybean, Corn, Cotton and Others - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global commercial seeds market was valued at $34.50 billion in 2011 and is expected to reach $53.32 billion in 2018, growing at a CAGR of 6.5 percent from 2012 to 2018.
The bioseeds market was valued at $15.60 billion in 2011 and is expected to reach $30.21 billion in 2018, growing at a CAGR of 9.9 percent from 2012 to 2018.
Browse the full report here.
Rapid development of bioseeds, also known as Genetically Modified (GM) seeds is one of the primary factors affecting the growth of the commercial seeds market.
The growing population coupled with decreasing arable land is a key driver influencing the acceptance of GM seeds in the world.
In spite of all the mentioned advantages of GM seeds, there is strong resistance to the development of this market due to the safety hazards associated with bioseeds. Certain varieties of GM seeds are said to be harmful to the ecological system and can lead to depleted soil in terms of its nutritional value.
Corn was the largest seed grown commercially, and accounted for over 40 percent of the global seed consumption in 2011. Growth in this market is primarily fuelled by the use of corn in the manufacturing of ethanol which is an alternate fuel type. The commercial corn market is expected to reach $24.26 billion in 2018.
Soybean, vegetable and cereals are the other largely consumed seeds and accounted for over 35 percent of the global consumption in 2011.
North America was the largest market for commercial seeds accounting for over 30 percent of the total market in 2011. Asia Pacific and Latin America are expected to show the fastest growth over the forecast period owing to the evolving methods of farming in these regions.
Soybean was the largest consumed bioseed and generated revenue of $6.71 billion in 2011. The use of soybean as animal feed is the major reason for growth in this market. Maize (corn), canola and cotton are the other commercially produced bioseeds. In the GM seeds category, corn is expected to dominate the market over the forecast period growing at a CAGR of 10.6 percent from 2012 to 2018. North America dominated the bioseeds market in 2011, accounting for over 30 percent of the global consumption. Bioseed demand is expected to grow significantly in emerging nations of Asia Pacific and Latin America from 2012 to 2018 due to increasing crop consumption and the absence of uniform regulatory guidelines for GM use.
Key participants in the seeds market include Monsanto, DuPont, Syngenta, Vilmorin and KWS among others. The report profiles the above mentioned companies along with a detailed market share analysis of the companies.
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