Source: The Context Network
The global proprietary seed market grew by more than 10 percent in 2009 despite a challenging financial year. The value rose to $32 billion, according to The Context Network's multi-client study, 2010 Global Seed Market Database, which shows that since its 2001 estimate, the value of the global seed market has expanded by roughly $18 billion.
Context Senior Associate and chief analyst on the report, Mark Nelson said, "2009 was a year of resetting in the seed industry. Commodity prices settled down from the previous year's highs. Growers paid much more attention to expenditures. That, in combination with a competitive seed environment, resulted in flat or no growth in many seed segments. However, the rapid adoption or use of trait technology, especially in the Americas, drove growth in broad acre crops such as corn and soybeans."